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Home»Web 3»How beautiful are coordinated stimuli?
Web 3

How beautiful are coordinated stimuli?

2024-03-07No Comments2 Mins Read
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TL; DR

Full story

To get their first million users, PayPal used a very simple, but still terribly effective tactics:

They paid them!

PayPal literally paid new customers $10 to use their product.

(Which led to millions of people using it for eBay purchases, and then a $1.5 billion acquisition of eBay itself).

While this tactic has been used extensively since (think credit card companies or banks paying you a “sign-up bonus”), Web3 is uniquely positioned to take advantage of it.

For example, Magic Square – who call themselves ‘the first Web3 app store’ – just announced that they would be committing $66 million of their own $66 million SQR token to grants to projects listed on their platform.

Here’s why this is cool:

First, providing subsidies to projects that plan to be listed on the Magic Square platform is a huge incentive for developers to start building.

At the same time, it makes Magic Square less of a ghost town, and more of a ‘the place to go’ for anyone looking to explore Web3 apps.

But the most important part of this is the coordinated stimuli.

If a developer makes a great app, and the only place to find it is through Magic Square, you would expect millions of people to visit Magic Square.

The more hype around the platform → the higher the SQR token is likely to grow → the higher the value of SQR, the greater the benefit for the companies that received subsidies.

That’s all a long way of saying:

Everything attracts more builders, where the builders themselves can be rewarded – we are all for it.

(If only we could code).

See also  Consider yourself blocked. Everywhere. | Web3 daily

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Beautiful coordinated stimuli
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