Friend.tech tide ebbs, Tip Coin rises

Author: bayemon.eth, ChainCatcher

According to the DataReportal report, there are 4.8 billion active social media digital identities worldwide, which is close to 60% of the world's population. Based on historical growth rate data, the number of social media users in the world will jump to 5.85 billion by 2027. From a market share perspective, the social media application market will be worth US$49.09 billion in 2022, and the compound annual growth rate from 2023 to 2030 is expected to reach 26.2%. In addition, GWI data shows that the average time the global population uses social media is about 6 hours and 37 minutes. Based on the average age of 73, a person spends about 11 years of his life entirely on social media.

Regardless of the Web2 or Web3 world, social networking has already become a rigid demand of users. The huge market share and bottomless demand black hole have sufficient reasons to attract more and more projects to take a bite of the "social" pie. Recently, after Friend.tech attracted the attention of the Web3 world to the social field, another social project called Tip Coin began to hit the screen.

Tip Coin is a new social project based on X (formerly Twitter) and combined with cryptocurrency. It aims to allow users to earn points by participating in content creation through "tweet mining" (which may later be turned into project tokens).

Users only need to bind an account on the Tip Coin official website, and when creating, retweeting, and commenting on content on Earn points through dimensions such as number and citation forwarding.

Because it is at a very early stage and the threshold for participation is low, Tip Coin has attracted about 100,000 users to participate in tweeting and commenting in just four days after its launch (officially launched on September 1).

However, for the current Web3 social network, whether it is Friend.tech, which quickly "rised high" but eventually became a "dog gambling paradise", or Lens Protocol, which has been busy but still has not made a splash, it seems that no one can really put it into perspective. Controlling the outlet of Web3 social networking has become an "enduring" application.

At present, except for the simple interactive form of earning points, Tip Coin has not yet announced the real operating model. It is still unknown how it will develop in the future and how Tip Coin will be empowered. The official said that the contract will be released soon, and the subsequent gameplay and development model can be said to whet the appetite of users.

How can current users participate? Can Tip coin, which "stands on the shoulders of Web2 giants", survive in the highly competitive social field? This article will briefly analyze Tip Coin’s current marketing strategy and discuss the challenges it faces.

Tip Coin Rules and Strategies

To put it simply, the current gameplay of Tip Coin can be summed up as "Web2 giant drainage + Web3 token airdrop", that is, through the existing X (former Twitter) relationship network as a traffic entrance, the future token airdrop of the Web3 world is expected to attract early users .

basic rules

Step1: Enter the official website, click Login in the upper right corner, and choose to connect to Twitter account.

Step2: Follow the official website prompts to activate the account. You need to send a verification tweet with $tip@Tip Coineth and rt Tip Coin official tweet, and then click "check status" to complete the account activation.

After successful activation, the account has gained 10000 points.

In addition to earning 10,000 points for posting a tweet with @Tip Coineth $tip for the first time, Tip Coin "Daily Tasks" can be rewarded in the following three ways:

— Original Tweet: Publish an original tweet with @Tip Coineth $tip, the point multiplier is 25, the initial points (you get it once you send it) 10,000, and then you will get corresponding points according to tweet reading, likes, replies, quotes and RT addition. Points can be earned by posting 5 original posts every day.

— Tipped Reply: Post a reply with @Tip Coineth $tip under other people's tweets, the point multiplier is 1, and the daily limit is 50 replies that can earn points. At the same time, although Tipple Reply will also get additional bonuses based on the reading volume, likes and other measures, there is a maximum limit of 25,000 points.

— Replied Kickbacks: When you receive replies from others, you can also get points, with a multiplier of 1/10, and no upper limit per day.

Tweet reading, likes, replies, citations, retweets, and citation reference bonus points are as follows:

PS: For specific points calculation, please refer to the official website Expected Point Calculator

Step3: Repeat the above "Daily Tasks" every week (Tip Coin Epoch is in units of weeks), become the king of social papers, and have the opportunity to be listed on the Social Cow Honor Roll.

Step 4: Redeem: Starting from September 1st, every week will be an "Epoch". The points obtained from all social activities in the previous cycle will be calculated and converted into the project token $tip during this cycle.

Score-boosting strategy

1. Do your daily tasks well and tweet diligently: This strategy is more suitable for Twitter influencers or KOLs who have their own traffic. This may be one of the reasons why Tip Coin chose to associate directly with the X account, that is, to attract a new wave of traffic through the appeal of traffic and give full play to the role of the "fan economy". The top two users in the current rankings, @Smartecio and @ix_wilson, both take the traffic monetization route.

2. Use "money power": Since there is still some time before the end of Tip Coin Epoch 1, and Tip Coin has not officially announced the token economics model, for most people, Tip Coin can bring " "Profit" and the value of tip tokens are unknown. So for Twitter users without a fan base, in addition to the fixed income from daily tasks, the traffic attraction part must show some "sincerity" and exchange "real money" for comments, likes and retweets. This is also the strategy adopted by @CryptoYjj, who is currently third on the list - selecting 5 lucky viewers in the comment area every 24 hours to send 50 USDT. We must know that the number of fans of the first two users is 19,000 and 39,000 respectively, and the number of fans of the third user is only 1,353. With a difference of dozens of times in number of fans, the points can be kept at almost the same level. It can be seen that "there are You can really do whatever you want with money.”

3. Technology and ruthless work: When the official only checks the "quantitative standards" such as posts, likes, and reads, for Twitter (X), which is currently rampant with fake accounts, directly letting the robots go out and brush the volume is a problem for those who just want to collect data at zero cost. Perfect for wool users. In addition, users can also consider adding some tags such as #Vitalik when tweeting to trigger the "passive technique" of automatic comments by the robot to complete the traffic drainage. However, officials seem to have noticed this and stated that the impact of robot intervention may be gradually eliminated in subsequent version iterations and network upgrades.

Tip Coin Challenges

As far as the Tip Coin project itself is concerned, since the project has just been launched on September 1, the first Epoch will have to wait until the 8th to enter the points liquidation and currency exchange stage. Therefore, from the perspective of the development cycle, current users are still unable to identify the project’s profit model. At the same time, Tip Coin has not announced a token economics model and has never conducted a token airdrop. Therefore, as mentioned above, the value of the project token tip Not yet known. Then, for the vast majority of users who come for airdrops, if the initial value does not meet expectations, Tip Coin may suffer serious backlash. In addition, Tip Coin, as a social product, has not yet deployed a contract. Now it only relies on fixed items such as Twitter posts, retweets, and likes to mechanically obtain points. Even if it is built on a Web2 social giant like Twitter, the gameplay is still too much. Monotonous, the long-term appeal to users is really limited.

By analogy, Mask Network, which is also aimed at social giants and is committed to lowering user thresholds and becoming a bridge from Web2 to Web3, has also led the way by virtue of functions such as sending encrypted currency red envelopes, encrypted payments, and sending encrypted messages without converting current social media. Introduced a new paradigm of Web3 social networking, in addition to simple social functions, Mask Network also integrates a variety of rich functions such as NFT transactions, ITO, public welfare fundraising, digital identity and even voting and DAO community governance.

However, even though Mask Network has considered "laying out the social ecosystem", it still cannot stop people's "three-minute enthusiasm" for the SocialFi project. Therefore, for the current Tip Coin, if the goal is to become a sustainable social platform, then the functionality and practicality really need to be enhanced in the next stage.

Finally, back to social interaction itself, the definition given by sociology is "under certain historical conditions, social activities in which individuals interact with each other and engage in material and spiritual exchanges. Along with the transmission of information elements, they share opinions, emotions, and experiences." waiting process". Tip Coin The current form of "social networks are assets and daily sharing is regarded as KPI" seems to pay more attention to the results of social behaviors and ignores the emotional communication and value sharing that should occur in the "normal" social process. When participants become popular after three minutes and the airdrop expectation fails to arouse the enthusiasm for tweeting, the follow-up answer sheet handed over by Tip Coin may be used as a true measure of its "sustainability".