In a recent conversation at Cointelegraph X Spaces, Kenneth Michael, business development and blockchain growth lead at E-Magine Ventures, emphasized the importance of nurturing community engagement in Web3 projects. He noted that while supporting communities is essential, it’s equally crucial to ensure their needs are met and they feel heard.
The Rise of Task-to-Earn Platforms
Michael’s comments resonate particularly with Gen Z and digital natives, who value flexibility and autonomy in their work arrangements. This demographic is increasingly seeking platforms that offer a sense of purpose and fair compensation for their efforts. A prime example of this trend is the task-to-earn platform, Rewardable.
Rewardable: Bridging Web2 and Web3
Launched in November 2024, Rewardable has gained significant traction with over 10,000 users signing up within its first week. This platform connects real users with brands seeking genuine engagement, rewarding them fairly for their efforts. As Michael explained:
"Our goal is to bridge Web2 and Web3 together, with transparency and trust built into everything."
Key Features of Rewardable
- Built-in ID Score System: This feature evaluates user performance, KYC verification, wallet activity, and social media engagement to identify trustworthy users.
- Mandatory KYC (Know Your Customer): To ensure the authenticity of users and prevent fake engagement.
- Task Templates: Beyond standard social media likes and comments, Rewardable offers a range of task templates, including bug bounty contests, content creation, referrals, and more.
- Transaction Option for Tasks: Allows users to set up templates for people to engage with the contract and test its deposit and withdrawal features.
The Importance of KYC in Web3
Michael acknowledged the stigma surrounding KYC but emphasized its necessity:
"There’s a lot of stigma around it, which I completely understand. But when it comes to trust, there’s no way around it. We want people to trust us and know that they are rewarding real people, not people who are trying to game the system."
Rewarding Users Fairly
The platform ensures that users receive their benefits in $REWARD tokens, which can be staked, traded, or held. These tokens are also used to create tasks on the platform.
Michael highlighted the significance of a robust ID score system:
"It’s the robust, data-driven reputation system that evaluates user performance, KYC verification, wallet activity, and social media engagement. If users don’t complete the task properly according to a brand’s instructions, we simply reject their submissions, which impacts their ID score."
A Platform for All
Michael concluded by expressing his hope that Rewardable can be used by other companies, businesses, and projects in both Web3 and Web2:
"We hope that our product can be used by other companies, businesses and projects, not only in Web3 but also in Web2."
Learn More About Rewardable
For those interested in learning more about Rewardable and its innovative approach to community engagement and trust, visit their website or explore the platform’s features.
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