Like with any other new technology, the blockchain and cryptocurrency industry has been trying to achieve mass adoption since the advent of bitcoin ten years ago.
However, at this point, it is obvious that the average Joe does not need to know the technicalities of blockchain to use cryptocurrencies. In fact, by simplifying the technology, crypto-related startups realize a much higher chance of attracting mass adoption of their killer apps.
With that in mind, different companies in this emerging industry have taken to gamification as a technique for engaging their audiences and customers.
Gamification is simply the use of incentives and rewards to attract and encourage engagement on a platform. As a reward and incentive system, gamification has proven to work in multiple industries apart from crypto.
1. HedgeTrade (HEDG)
HedgeTrade is a platform that uses blockchain technology to revolutionize social trading.
The platform is designed such that the world’s best traders get to profit from their wealth of trading knowledge by making trading predictions that can be purchased by novice traders. Once purchased, the novice traders can use the predictions to improve their outcomes.
The entire process in incentivized both for the sophisticated trader as well as the novice trader. Expert traders stake HEDG tokens to create a prediction on a smart contract called a blueprint’.
For every accurate prediction, the expert trader is compensated. Also, novice traders are reimbursed for inaccurate market predictions.
2. Basic Attention Token (BAT)
The Basic Attention Token is built around the idea of using gamification to improve the efficiency of digital advertising.
Built on Ethereum, the token introduces a blockchain-based digital advertising technique that incentivizes advertisers, users, and content publishers.
For using the brave browser, users not only get a fast and privacy-focused browser, but they also get paid for giving attention to adverts they allow on the browser.
Publishers are also rewarded for the users they bring to the platform and advertisers get a positive ROI on their campaigns without infringing on data privacy.
3. Metal (MTL)
The Metal (MTL) token is part of Metal Pay, which is a payment processing platform that is similar to a credit card payment system that uses cryptocurrency.
Apart from allowing its users to send and use cryptocurrency, the platform also incentivizes its users through a 5 percent bonus on payments made with the MTL token.
The MTL token runs on a proof-of-payment blockchain system that verifies every crypto to crypto transactions. With a simple and user-friendly interface, not to mention zero fees for each transaction, the Metal token aims to increase the adoption of cryptocurrencies.
4. Lukki Operating Token (LOT)
Another company using an innovative gamification process to accelerate crypto adoption is Lukki Exchange.
Their Lukki Operating Token is used in the Lukki ecosystem to make feeless transactions.
In addition to a convenient user-friendly platform, the Lukki ecosystem makes trading easy and comfortable by giving users access to the necessary tools. The platform owners also plan to further develop the ecosystem to include levels, rewards, and scores for users who achieve set goals.
5. Storm
The Storm token is used to reward users on Storm‘s gamified microtask platform.
Through Storm, users from any part of the globe can earn Storm tokens for simply finishing small tasks or trying out new products.
So far, the Storm Player platform has over 2.4 million users who have earned rewards with the platform.
Looking to the future
Ask anyone in the blockchain and cryptocurrency industry and they will tell you that blockchain and cryptocurrencies are perfectly suited for gamification. The reason is simple, gamification increases participation and engagement on any existing platform.
Companies like HedgeTrade, Storm, and Metal Pay are making mass adoption of this emerging technology possible by introducing different variations of gamification as a way of attracting a wider user base. With documented evidence of gamification techniques proving to work in other industries, it is only a matter of time before the crypto space experiences the same.
