Pinterest for Web3
With a play-to-win (P2E) game rising in 2021 via Axie Infinity (AXS) and a branch called move-to-win (M2E) gaining fame via STEPN (GMT), another variation of the “to win” model has been launched with the aim of bringing Web3 elements into existing Web2 frameworks.
The CurateDAO team announced to Cointelegraph that they have launched a Pinterest-like database platform on the Avalanche (AVAX) blockchain. Similar to other “to-win” models, users can be rewarded with crypto tokens for completing tasks. In this case, the task given to participants is to add lists of their choice to the project’s database.
There are different roles in the project’s ecosystem. These roles include curators who will set rules for a database, a scout who will find and contribute content that complies with the database rules, and viewers who participate by looking at the content.
The curator can be an individual, a decentralized autonomous organization (DAO), or an artificial intelligence (AI) program such as GPT-3. They will earn along with the viewers as content is purchased by the viewers or accessed by watching ads.
The team believes that incentivizing curation will lead to the collection of high-quality data. Michael Fischer, founder of CurateDAO, said that the project will be useful in capturing user-generated content in the form of a familiar Web2 application.
At Korea Blockchain Week, Anthony Yoon, a manager at investment firm ROK Capital, told Cointelegraph that blockchain games are a good fit for the Korean gaming ecosystem. According to Yoon, some Web2 gaming companies are looking at ways to enter the blockchain, and one approach is to develop first and then launch a token, while another is to prioritize the token and then launch the token later.
At the same event, Axie Infinity executive Jeffrey Zirlin told Cointelegraph that his team is looking to increase its efforts to penetrate the gaming community in South Korea. Although P2E games are banned in the country, Zirlin said they are looking for ways to adapt the game to the region.