Revamping The Future Of Engage-to-Earn Platform For Simplified Earning
The evolution of blockchain and the latest advancements have led to numerous gaming models. Every now and then, we witness that there are announcements followed by the launch of the latest gaming module. Such games have multiplied the figure of game lovers tremendously. Game lovers constantly wait for the latest updates to have an amazing experience.
We have witnessed fantastic gaming models like play-to-earn, pay-to-earn, and free-to-play. When these games were launched, there was less enthusiasm among the players. This was due to the non-availability of resources or lack of promotion. But now, having social media around us 24*7, the updates related to the upcoming game type have become more convenient.
Popular Gaming Models
- Play to earn
This category has captivated the players' attention for a longer period. It was the first time when the players were allowed to earn money in the form of cryptocurrency. All this was done while playing their favorite games. Some famous play-to-earn games are Axie Infinity, Gods Unchained, splinterlands, decentraland, the sandbox, and so on.
- Pay to Play
This was one of the first prevalent gaming models until the early 2000s. The players had to pay some subscription fees to play the games. It was a win-win situation for the creators and a loss for the players. The game studios used to gain revenue from the early game sales. So, essentially, the players had no opportunity to get back what they had invested. The only thing that they gained was the playing experience.
- Free to play
This bracket of games came just after pay-to-earn. The idea behind launching them was not to force the users to make an initial investment in their platform. It is also true that, in the beginning, free-to-play was considered to be a debacle, but eventually, it proved everyone wrong. These games were relevant for almost 10 years. The key thing was only the elite players were rewarded.
The above three are the most important virtual gaming models known by most audiences. The engage-to-earn model is the newest model that has created a sensation in the gaming market.
What is Engage-to-Earn?
The most popular form of gaming model that has successfully captivated the user’s attention is engage-to-earn. Here, social media users have the
potential to engage with other users. This is possible due to the “Taki.” This is a token-enabled social network that helps users in owning and managing their income. All this is done by letting the users participate in community interactions.
This form of gaming model is focused on transforming the creator’s economy, whose majority audience and users are social media influencers. Engage-to-Earn is a brand new concept that is based on Taki. Taki is nothing but an emerging social media network that allows users to create their own content. The users can earn crypto just by appearing on the platform or making new friends.
Workflow Of Taki Platform
Firstly one needs to see about the types of tokens, i.e., $TAKI (primary token) and gold taki(supportive token); all these form a part of the environment that manages the wholesome payment and value exchange. The basic use of $TAKI token is to forward the gold taki tips. Create and trade the user coins and reward the content creators.
The user coins are personalized coins that are helpful in dispensing off the gold taki rewards. There is substantial trading between the Taki tokens and the user coin. The user coins are completely built on the taki sidechain and are systematically migrated to the Solana blockchain to enable trading across other chains.
There are certain rules that can handle transaction fees. Such fees are linked with the trading of user coins and the taki token's withdrawal. The taki tokens are listed on the exchanges and decentralized liquidity pools that bring immense liquidity to the platforms.
Various Engage-to-Earn Games
Chingari
This is one of the most admired social media apps for video sharing that is used to add voice-overs, visual effects, and lip sync to the videos. This has become the most popular way of earning money via uploading videos. Then depending upon the attention it can gain, the users are paid accordingly. There is a huge calculation based on the audience, i.e., the number of views. The users earn points in the form of a GARI token. One point is earned for a single view; eventually, these points can be exchanged for real money.
Taki
This social media platform in India is known worldwide for sharing content. It is finally launched and is an open platform with more than half a million to join the platform and gain early access. Taki is a unique engagement platform that allows creators, users, and crypto enthusiasts to engage with each other. The platform allows users to earn TAKI tokens by creating content enjoyed by others or simply by engaging with the content, such as liking and commenting on posts. Taki allows users to create $USERCOIN on their Taki platform to help build their business. Taki's primary goal is to reward people who spend their time on social media daily to engage with others and get entertained. Soon, the $TAKI coin will be listed on Indian cryptocurrency exchanges as a stablecoin.
BOMB Crypto
This engage-to-earn platform allows the players to own a group of BOMB heroes that NFTs can represent. These heroes are programmed to find BCOIN, i.e., the native token. This gaming platform consists of various missions that need to be completed by the players. The player needs to defeat the monsters to reach the final stage successfully. A place for trade in the market allows users to participate in the auction. The tokens are constantly traded and exchanged in the gaming environment. This token also allows players to access special events in the game.
Brave Browser
This open-source web browser is based on Chromium, developed by Brave Software, Inc. In this Brave browser, the users can earn BAT (Basic Attention Token) by selecting the option to view ads. The Brave's native cryptocurrency is BAT. The users can earn it by opting to view anonymous, privacy-preserving advertisements. The ads are then delivered to users via push notifications. The earned BAT tokens are then stored in the browser's wallet and traded for crypto or fiat currency.
Let’s talk briefly about Taki;
Taki-Briefly Explained
Taki is similar to other social media platforms like Twitter and Facebook. Sakina Arsiwala is the co-founder of the same. It is known for allowing social enthusiasts to invest, transact and share token-based content portfolios. It is built on the Solana blockchain because it promotes faster and inexpensive transactions that are also energy efficient. The taki tokens can be successfully converted into real money.
Any social media content that the users on Taki like can be rewarded by the taki tokens. Some rewards are shared among taki users' followers, creating a positive feedback loop. An incredible tip-sharing mechanism, "Gold Taki," allows the user's coin holders to share revenue tips. Therefore, the taki users can buy the native token of their so-called favorite content creator. This leads to creating profit and generating revenue.
TAKI is built on the RLY protocol that is easily available via mobile app. There are daily tasks that are allotted and need to be completed. The usual commenting, liking, and sharing of the posts, whether images or videos, and even adding new friends, all correspond to receiving rewards in TAKI coins.
Engage-to-Earn Social Media Model
This model has the capability to overpower the basic play to earn ideas. The p2e model has produced billions of dollars. There was resistance faced by the larger section of people that thought that such games would not survive for that much time. Also, they are just to lure the audience, thereby deviating them from playing the game.
But the engage-to-earn game model has surprisingly impressed the gaming community. As far as the influencers are concerned, they have little liking for the platform. The social platforms grab massive revenue and offer less to the influencers. This is the case with all the major social media platforms like Instagram, FB, TikTok, etc.
Also, paid social media sponsorships to contact the content creators to produce real money. Talking about TAKI, the case is entirely different. Here, the creators are in complete control of the revenue generated.
The other significant thing is that this model is quite sustainable and can be made more tenable if it cuts down on the middlemen, and there will be a great deal for it to sustain in such an environment for the upcoming years.
Taki is supported by the decentralized system popularly known as DAO (decentralized autonomous organization). The user community takes all the decisions, whether minor or major, at a faster pace. The criteria for earning rewards is very instant, and in case of any donation, they are directly quickly sent to their wallets.
This also enables a straightforward social media platform without any complications. It also provides a smooth crypto experience that can create much better avenues for digital content creation.
NFT-Integrated Engage to Earn
The most interesting thing about the TAKI is that the crypto tokens built on the Solana blockchain offer affordable and swift transactions. The taki tokens are seamlessly converted into real currency when properly listed on the crypto exchanges. An additional advantage is allowing the users to create crypto tokens of their own.
It is denoted as the user economy, where the power is given to the content creators absent in the previous social media platforms. This is possible because of the fully owned crypto tokens.
When liked by their followers, the content posted by social media influencers also gets the chance to attain rewards. Reward sharing characteristic is the biggest plus point of the TAKI. This engage-to-earn in Crypto allows the creators to create engaging content for fetching rewards.
Launchpads play an essential role by enabling users to generate their own tokens. Such types of IDO launchpads provide rewards on every engagement taking place in its realm. The consensus protocols like proof of attention are implemented, creating opportunities to acquire allocations like creating content, referral, commenting, and even voting.
This NFT-integrated Engage to Earn model has motivated the creators and the audience to use this platform to post content daily to capture a much larger audience. There is an amazing partnership of a $2.5 million fund of TAKI with the Solana Blockchain for creating a wider pool of audiences.
How Has Engage-to-Earn Become The New version Of Play-to- Earn?
The Play-to-Earn model has grabbed ample attention in recent years. It is because the model before this was based on pay to win. The users had to invest money before enjoying the gaming experience.
But with the advent of the blockchain system, play-to-earn games have opened doors for games that allow daily completion of tasks while earning rewards. Play-to-earn games like axie infinity are a great example that allows the monsters to fight with each other and earn crypto rewards. In the same way, there are various fitness apps. One of them, "Sweat Coin," has also captivated people's attention by enabling them to earn while exercising.
But there is a limitation associated with the play-to-earn gaming models. People today are extremely busy and do not have time for playing video games or using fitness apps. Therefore, it's doubtful that this gaming model will gain maximum momentum in the near future.
To bring an alternate model, the audience's preference must be considered. People today spend a lot of time on social media platforms. They love to see the posted content and can create their own short videos showcasing their talent.
The engage-to-earn model is the perfect illustration that has the capability to uplift the creator's economy. There are massive influencers that now exist and create quality content. The majority of the people using the platform comprises the younger generation. So this makes it quite obvious that the economy will boost because of the pool of people involved in this platform.
One could say that the elevated version of P2E games honors the influencers to get what they deserve. Previously, they had to depend on paid sponsorships, but now they completely control what they create.
Also Read: Web3 Metaverse Development | What is the Web3 and Metaverse Exactly?
Bottom Line!!
In this fast-paced world, where users want easy access to everything. Web3 can resolve this issue. In addition, social media platforms like Taki have given users complete freedom to develop impressive engagement with the content. A lot more needs serious consideration around executing Web3 parameters to optimize social content, gaming, and much more. This engage-to-earn model has the capability to gain millions of users for a better product experience.
