In recent years, the web3 space has seen a surge in innovation and growth, with numerous projects emerging to address various needs and problems. However, one crucial aspect that often gets overlooked is community building and nurturing. Kenneth Michael, business development and blockchain growth lead at E-Magine Ventures, recently emphasized the significance of this aspect during an interview at Cointelegraph X Spaces.
The Need for Community Nurturing in Web3
As Michael aptly put it, "I would like to see more Web3 projects actually spend time nurturing their community. Not just supporting them, but making sure they feel heard, satisfied, and that their needs are being met." This principle is particularly appealing to Gen Z and digital natives, who value authenticity, transparency, and fair treatment.
Rewardable: A Task-to-Earn Platform Bridging Web2 and Web3
Michael introduced Rewardable, a task-to-earn platform that connects real users with brands looking for genuine engagement. Launched in November 2024, the platform has already garnered over 10,000 users within its first week of operation.
The Benefits of Transparency and Trust in Web3
Rewardable’s built-in ID score system and mandatory KYC (Know Your Customer) verification ensure that only trustworthy users are rewarded. Michael explained the importance of these measures: "Our goal is to bridge Web2 and Web3 together, with transparency and trust built into everything. Considering how fast AI algorithms and social media are changing, it’s very important now to weed out fake engagement."
The Role of KYC in Web3
Michael advocated for the need for KYC in Web3: "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." He emphasized that trust is crucial in building a reliable community.
Task Templates and User Experience
Rewardable offers a variety of task templates beyond standard social media likes and comments. These include bug bounty contests, content creation, referrals, and more. The platform’s transaction option for tasks allows users to set up a template for people to engage with the contract and test its deposit and withdrawal features.
Near-Instantaneous Task Completion
The platform’s task completion time has reached near-instantaneous levels, greatly improving the user experience and allowing users to be rewarded quickly. Payouts are distributed for completed tasks, ensuring that users receive their benefits promptly.
ID Score System: Evaluating User Performance
Rewardable’s ID score system evaluates user performance based on KYC verification, wallet activity, social media engagement, and task completion. Users with a higher ID score are more likely to be rewarded by brands. Michael explained the robust data-driven reputation system: "If users don’t complete the task properly according to a brand’s instructions, we simply reject their submissions, which impacts their ID score."
Conclusion
Michael concluded by expressing hope that Rewardable’s product can be used by other companies, businesses, and projects in both Web3 and Web2. He emphasized the importance of community building and nurturing in creating a reliable and trustworthy ecosystem.
The Future of Task-to-Earn Platforms
As the web3 space continues to evolve, task-to-earn platforms like Rewardable are likely to play a significant role in shaping its future. By providing a platform for real users to engage with brands and receive fair rewards, these platforms can help bridge the gap between Web2 and Web3.
The Benefits of Task-to-Earn Platforms
Task-to-earn platforms offer several benefits, including:
- Real engagement: Brands can connect with genuine users who are interested in their products or services.
- Fair rewards: Users receive fair rewards for their efforts, which encourages them to continue engaging with the platform.
- Transparency and trust: Built-in ID score systems and KYC verification ensure that only trustworthy users are rewarded.
The Importance of Community Nurturing
Community building and nurturing is essential in creating a reliable and trustworthy ecosystem. By listening to user needs and addressing their concerns, Web3 projects can build strong relationships with their communities.
Recommendations for Web3 Projects
- Nurture your community: Listen to user needs and address their concerns.
- Use task-to-earn platforms: Platforms like Rewardable can help bridge the gap between Web2 and Web3.
- Implement KYC verification: Ensure that only trustworthy users are rewarded.
By following these recommendations, Web3 projects can create a reliable and trustworthy ecosystem that benefits both users and brands.
