Nurturing Web3 Communities: The Importance of Transparency and Trust
Kenneth Michael’s Vision for a Better Future in Blockchain
At the recent Cointelegraph X Spaces event, Kenneth Michael, business development and blockchain growth lead at E-Magine Ventures, shared his insightful thoughts on the importance of nurturing Web3 communities. He emphasized that it is not enough to just support these communities; they need to feel heard, satisfied, and have their needs met. This sentiment resonated with many attendees, particularly those from Gen Z and digital natives who are increasingly demanding more transparency and trust in online interactions.
The Rise of Task-to-Earn Platforms: Rewardable’s Innovative Approach
Michael introduced the concept of task-to-earn platforms, which connect real users with brands seeking genuine engagement. One such platform is Rewardable, launched in November 2024, that has already gained over 10,000 users within its first week. This platform aims to bridge the gap between Web2 and Web3 by incorporating transparency and trust into every aspect of user interactions.
The Role of KYC in Web3: Separating Reality from Fiction
Michael highlighted the significance of Know-Your-Customer (KYC) verification in Web3, often misunderstood as a cumbersome process. He explained that KYC is essential to build trust between users and platforms, ensuring that rewards are given to real individuals rather than those trying to exploit the system. The ID score system on Rewardable takes this concept further by evaluating user performance, wallet activity, social media engagement, and KYC verification to identify trustworthy users.
Rewardable’s Features: A Game-Changer for Web3
Michael showcased some of the innovative features that set Rewardable apart from other task-to-earn platforms:
- Task templates: Beyond standard social media likes and comments, users can engage in bug bounty contests, content creation, referrals, and more.
- Transaction option: A template allows people to test contract deposit and withdrawal features, promoting token usage and volume.
- Near-instantaneous task completion: Users receive rewards quickly, with payouts distributed upon task completion.
Users’ Benefits: The Power of $REWARD Tokens
Task Ninjas on Rewardable receive their benefits in $REWARD tokens, which can be staked, traded, or held. These tokens are also used to create tasks on the platform, creating a self-sustaining ecosystem.
Rewardable’s ID Score System: A Data-Driven Reputation System
Michael explained how the ID score system works:
- Evaluates user performance
- Verifies KYC
- Monitors wallet activity and social media engagement
- Rejects submissions from users who don’t meet instructions, impacting their ID score
A Bright Future Ahead: Rewardable’s Potential Impact on Web2 and Web3
Michael concluded by expressing his hope that Rewardable can be used by other companies, businesses, and projects across both Web2 and Web3. This would not only promote transparency and trust but also contribute to a more sustainable and inclusive online environment.
Sources: Cointelegraph (@Cointelegraph) December 9, 2024
