Learn-to-Earn (L2E): Why Is It Popular In The Crypto Industry?

Learn-to-earn and its importance in the cryptocurrency industry explained

Crypto moves non-stop. And with such activity comes a lot of noise. To be heard in such an overcrowded space, companies need to keep looking for innovative ways to stand out – and what better way to do so than in “dollar dollar bills y’all?” 

“It’s all about MONEY, not FREEDOM. You think you are free? Try going somewhere without money.” 

– Bill Hicks

Yes, capitalism at its finest – yet it is true. Money does drive everything. And what’s even better than money? Easy money. 

Thousands of projects in crypto are scouring for a chance to be discovered by the small community of active users in the space. Others are trying to transform speculators into actual users. One of the ways that companies have been successful in doing so, is through offering a “two-birds-one-stone” situation: learn-to-earn. 

How learn-to-earn came to life

It all started with the concept of play-to-earn, popularized by the GameFi platform Axie Infinity. This model completely broke the Web3 space, and continues to play a large part in sustaining the digital asset economy. Then came move-to-earn and learn-to-earn, the true testimonies of how the crypto space expands its scope by the day. 

What is learn-to-earn? 

Learn-to-earn is really a win-win. In exchange for learning about a project or a token – through watching videos, reading articles, and taking quizzes, you’re rewarded with tokens. As a user, you get to learn new concepts to better navigate this hectic space but also be monetarily rewarded for it. 

But it’s not just beneficial for you – it’s also pretty cool for the platform/company. Through the learn-to-earn mechanism, users learn about their project and their token, helping them reach more people and gain higher exposure. They get to interact with a knowledgeable community and investors of the project.

Knowledge is purchasing power

This model has already been tapped into by some of the world’s largest crypto exchanges like Binance, which launched its Binance Learn & Earn initiative in March earlier this year. Binance users are able to gain blockchain knowledge and complete quizzes for a chance to win rewards. 

Binance Learn & Earn is a side initiative of the overall exchange itself, but there are also companies dedicated to serving this learn-to-earn model, like Rabbithole. The platform offers rewards to users who interact with decentralized applications and well-known blockchain protocols. The best part is that Rabbithole breaks down each protocol into gamified tasks for users to understand the application’s core functions, making it easy for newer crypto players to navigate. The protocol in return also gains exposure and more users bootstrapping its network operations. 

Learn-to-earn paves the way for mass retail adoption

Despite the number of projects, companies, and initiatives flooding into the crypto space, mainstream adoption still seems out of reach for the time being. The list can go on and on when discussing why this is so, but projects like Rabbithole are taking pretty good steps at making mass adoption a reality. It’s changing the game for crypto, serving as a filtered portal to the crypto world by solving some of crypto’s largest pain points. 

It’s pretty difficult for new projects to find users to bootstrap their networks and properly test their functionality to ensure performance – with Rabbithole, proper legitimate incentives are offered to users to do so. There’s also the fact that crypto can be extremely overwhelming. 

New projects pop up left and right, with the number of platforms and tokens growing day by day. Where do you look and how do you know you’re heading the right way? Rabbithole can be your guide by breaking down various protocols and requiring users to actually use the network. By gamifying learning, new users automatically have an easier transition to experiencing the decentralized world and are gaining critical skills needed for the Web3 economy. 

But will these companies survive? Are they sustainable? It’s hard to tell. Only the future holds the answer. One thing is for sure though: learn-to-earn could change the game for crypto in the long run, giving crypto newbies and amateurs an easy tool to become properly equipped for further exploration. Perhaps mainstream adoption is closer than we think. We’ll find out soon enough when the next bull cycle kicks in. 

Tags

Choose a language