What is a Web3 reward platform?
Reward platforms offer some form of reward (often monetary) for taking a specific action.
The actions are most often linked to some form of promotion, engagement, or are commission based.
You see this a lot in the marketing world. There are platforms that allow people to earn access, money, or prestige by doing things like sharing a Tweet, referring a friend, or simply being a heavy user of a platform.
Web3 rewards programs offer the same functionality as other rewards platforms, however, they're built specifically for Web3.
By that we mean that they'll integrate with platforms most popular with Web3 like Discord, and the payouts/rewards can be crypto based.
Why do you need a Web3 reward program?
Growing a business is hard.
And a good rewards program has long been proven one of the most effective ways of securing better reach and more users.
Since Dropbox used a simple referral system to help them explode their growth, they've been a staple in modern marketing.
After all, when you have a good rewards program each and every user of your product becomes a potential salesperson.
With the heavy focus on communities in Web3, a good referral program can turn the beneficial relationships you're building with users into truly valuable partnerships.
How to choose the right Web3 reward program
Choosing a reward program shouldn't be too difficult.
First you need to identify what kind of reward program you want o establish. What is it you're going to reward?
- Engagement
- Sales referrals
- Shares on other platforms
Once you know what you want to reward, you need to identify what the reward will be...
- Fiat payment
- Crypto payments
- Access to higher tiers
When you know both of these things, it's simply a case of finding the best fit platform for those needs, and looking at reviews from current users to see if it's something you could get on with.
