The Future of Blogging: Exploring Read to Earn Opportunities
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The Rise of Read to Earn
Medium writers, I want to engage you in a conversation about a concept that could revolutionize blogging in the near future. After being involved in the cryptocurrency space for six years, I have observed various trends emerge. Recently, we’ve seen a shift from traditional gaming to Play2Earn models, where players can earn the game's native tokens or even other cryptocurrencies.
Notable examples of Play2Earn (P2E) games include Axie Infinity, The Sandbox, Aavegotchi, Splinterlands, and MOBOX. One game that will be part of upcoming discussions is Osimi City, a P2E game I co-founded that transforms the Grand Theft Auto gaming experience into a Play2Earn format.
So, you may wonder, what’s the connection between gaming and blogging? Let's get straight to the point!
The "Read to Earn" or "Learn to Earn" concept isn't entirely new. One of the earliest adopters of this model was Coinbase, which features a dedicated section known as Coinbase Earn. This platform offers short videos that explain various cryptocurrencies, concluding with a brief quiz. If viewers answer the questions correctly, they earn a reward, typically around $3 to $4, in the cryptocurrency they just learned about.
Coinbase Earn Overview
Binance's Initiative for Learning
Are these educational methods effective, and how does Medium compare? In Coinbase's model, participants take a quiz that ensures they have engaged with the material. This approach guarantees that readers have paid attention and grasped the key concepts.
In contrast, Binance's model relies solely on the time spent on the page and whether the article was fully viewed, which does not confirm that readers genuinely understood the material. This could lead to individuals skimming articles solely for the monetary incentive, lacking true interest in the subject matter.
Can a "Read to Earn" system also encourage learning on Medium? How can we refine it for maximum effectiveness?
Medium writers are well aware of the challenges in gaining visibility for our content. It requires persistence in both publishing and crafting engaging articles. By doing so, Medium begins to favor our work, enhancing its visibility and recommendations.
Given that Medium is the leading blogging platform globally, boasting over 54 million users, why not explore innovative strategies to attract even more readers?
Discussion Prompt for Medium Writers
I invite you, fellow writers and readers, to consider whether a gamified "Read to Earn" system could enhance reader engagement with the content here on Medium. What structure could this system take?
I have a proposal worth discussing: I suggest we consider slightly reducing the rewards for top-earning writers on Medium and reallocating some of those funds to readers participating in the Read to Earn program. This could allow readers to use these rewards as cash incentives or cover part (or all) of their membership fees.
I welcome your insights in the comments, especially from those of you who have extensive experience on this platform. Would such a system enhance the Medium ecosystem, or could it lead to unintended consequences?
Please share your thoughts and any other ideas you may have for this initiative. I look forward to a constructive conversation with the community!
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