CoinMarketCap Launches ‘Earn’ Initiative That Will Pay Users to Learn Crypto
Leading crypto metrics site, CoinMarketCap, has launched an initiative that will enable its account holders to earn tokens for learning about projects in the industry. Dubbed ‘CoinMarketCap Earn,’ this program intends to scale educational activity in the crypto space as opposed to providing investment or financial advice. Notably, a similar initiative was launched by Coinbase back in 2019, although it runs as an education rewards program.
The CoinMarketCap Earn program is an interesting prospect, given the platform’s cutting edge in crypto traffic. A good percentage of stakeholders in the industry, including newcomers, visit the site regularly for price updates alongside other market stats. With such an established audience, its Earn program could onboard millions into the crypto ecosystem.
According to the FAQs on CoinMarketCap Earn, the program will enable interested users to watch educational videos of featured crypto or blockchain projects, after which they will take quizzes. Should one be successful in answering all the quiz questions, they can earn up to $10 worth of the project’s underlying tokens.
A source from CoinMarketCap has since told The Block that the program will be featuring two projects every month with an 8-day campaign period for the token offers. While the news comes as a boost to the crypto community, markets including Mainland China and the U.S, have been excluded from the product. This is where Coinbase, which serves the American market, still beats CoinMarketCap despite a recent acquisition by Binance.
Band Protocol Debuts First
Following the progress made towards crypto education, Band protocol, which is a cross-chain focused on data oracles for the smart contract and DeFi space, will be first to launch an earning program. The Sequoia Capital-backed project has already allocated $160,000 worth of its native tokens ‘BAND’ to this course. Band Protocol CEO, Solaris Srinawakoon, emphasized on the value addition in scaling crypto education,
“Education is key to accelerating the use of crypto assets, and we are thrilled to be part of CoinMarketCap’s efforts to help users learn more about their underlying technology.”