Author: @!0xWang1| @RealResearchDAO

Foreword

The development of technology has brought about changes in the way people entertain. In addition to work and study, the way people spend their time is also constantly shifting. In an orderly and hurried life, all kinds of entertainment, variety shows, and short videos are flooding into people's daily lives. Various entertainment methods enhance people's sense of happiness in their spare time. Under such a huge market, Web2's big companies are gradually focusing on how to capture more users' time. When users enjoy the pleasure brought by short videos, although the purpose is to "enjoy", at the same time, the objective behavior of "killing time" continues. These bits and pieces of time that are not concerned by individual users are real gold for Web2 giants who rely on data traffic and advertising push for a living.

Web2 giant companies rely on the accumulation of small and large pieces of time to make profits. This profit model seems to be healthy and normal. Both the company and users get what they want, but in fact, these are mostly obtained by consuming users' time and energy. Advertising profits are ultimately not divided with the real labor value provider, namely users. Web2 companies completely monopolize all profits by taking ownership of user data as their own. At the same time, they will continue milking users for further profits in the sacrifice of user experience.

How to generate corresponding value to your spare time, and successfully capture the value of your fragmented labor? With the advent of the Web3 era, more and more interesting projects have given their own answers. As a Web3 task distribution platform, Quest3 aims to fully realize the value of each person's labor, so that the fragmented time and labor of individuals can also be realized in time.

What is Quest3?

Quest3 is a Web3 quest and activity platform incubated by Hogwarts Labs. Users can get tokens and NFT badge rewards by participating in tasks published by the task parties and official events. Quest3 is committed to providing a variety of permissionless on-chain and off-chain tasks for GameFi, DAOs, communities, and other projects, bringing continuous benefits to users as well as the Web3 ecosystem and its native value.

Simply put, Quest3 can be regarded as a subcontracting platform similar to "Yelp", except that the tasks assigned to users are to guide the project party, participate in the project experience or watch specific advertisements, etc.

How does Quest3 work?

Quest3 provides an exclusive platform for project parties and users, so how does it work?

Diverse and flexible "Bounty Guilds"

On the Quest3 platform, the tedious process of watching commercials has also turned into a fun and challenging project. Advertisers will watch advertisements as a task and publish them on the Quest3 platform. Watching the corresponding advertisements can get rewards provided by the task publishers (advertisers), which may be an on-chain token or a delicate and unique NFT badge. Anyone with a linked identity on the platform can post and complete tasks without permission from any part. The tasks released are not limited to the simple type of watching commercials. Quest3 supports both on-chain and off-chain task types. The platform is equipped with a corresponding task review mechanism, and users will be automatically reviewed and rewards will be issued after completing the corresponding tasks.

Quest3 integrates the characteristics of Web3.0 projects to capture users. Users can actively receive the specific content of the project while completing tasks and obtaining rewards, which provides the project with the opportunity to convert potential users, and also provides secondary dissemination of the project on social media, to achieve a win-win situation for advertisers (project parties) and users. At the same time, Quest3 will accumulate a large number of users and traffic through the flywheel effect generated by the value dissemination between projects and users, and further, promote the transformation of users from Web2.0 to Web3.0.

Quest3 released a beta version in July with support for Ethereum, BNB Chain, Avalanche, and Polygon. It is worth mentioning that the mobile APP released by Quest3 not only allows people to do tasks anytime, anywhere but also provides a uniquely customized API service for businesses, allowing potential partners who want to integrate Quest3 into their DApp to add and provide more functions.

Returning the chain of profit generation to the users

As a16z partner Chris Dixon says, Web2 is built on advertising. Web2 giants such as Facebook and Google make most of their money through advertising, and many Web2 startups also use advertising to aggregate their user bases.

According to a statistical report released by Statista in December 2021, the annual revenue of the global advertising industry has reached 800 billion US dollars and is expected to reach one trillion in 2026.

In this huge profit market, how much of the profit belongs to users? The answer is almost 0. This is due to the monopolistic positioning of Web2 giants and the hegemony of discourse power. Any user data registered on the Web2 platform and the resulting profits do not belong to the user himself. Even user preferences are controlled by these big platforms. These monopolies impose advertisements on users, consuming users' time and energy while taking away the rewards that users should get. However, in the Web3 world, the platform, as a medium between businesses and clients, has adopted different methods in terms of advertising profit, allowing users and platform builders to benefit from the cooperation between the platform and merchants, and participate in the network development as the real masters.

In the future Web3 world, Quest3 provides a platform for everyone to earn cryptocurrencies by completing tasks and watching ads. Personal time should be rewarded. Anyone can join the event, and after completing the task, they can get a bound NFT as an on-chain achievement, and this on-chain data can be indexed by others after permission.

Let’s dive in!

1. Discover

Shows recommended tasks and activities

2. Communities

In collaborative project partition, users can find their favorite projects, and follow and complete related tasks.

3. QuesterCamp

User's personal profile page, where you can find your ongoing tasks, tasks that can be rewarded, completed tasks, etc.

4. Quests

Click on a specific task to display detailed task descriptions, requirements and rewards on the page.

Changes in Marketing Methods for Different Web Generations

Web 1

In the Web1 era, there were very few content creators and most internet users were consumers. Personal web pages are common, and they include static pages hosted by a paid web server (through an internet service provider) or by a free web hosting service. Online advertising was banned, and marketers had to rely on collecting emails for email marketing and simply using online information to enhance traditional advertising via TV, radio, and print. SEO is still in its infancy, and SEO marketing is rough.

Network marketing was first discovered in the Web1 era, but due to technical limitations, network marketing did not really exert its potential at this time.

Web 2

We are in the Web2 era, people turn on their mobile phones, and various marketing advertisements are overwhelming in different APPs. The development of Web2 has given birth to the explosion of digital marketing. As the web evolves to become consumer-first, data-driven, and mobile-first, so too do the various potentials of digital marketing. The growth of social media platforms such as Facebook has paved the way for targeted advertising, and digital marketing has become performance and analytics oriented. Platforms collect data on users and provide this data to marketers through targeted advertising. As a result, brands are starting to understand their audience better and advertising is more targeted and more frequent.

Web 3

In Web2, data is collected and controlled by platforms and companies. Web2 giants hold all the data of users and package and sell these user data to different advertisers through different pricing and methods. Marketers, only need to cooperate with data platforms to communicate with the packaged user data to formulate corresponding marketing strategies to improve user attraction and user retention.

However, in Web3, personal data will be controlled by individual users rather than centralized entities, and no entity company or individual will own a large amount of other people's data. Data will be stored in a distributed network that is not exclusive to anyone.

For individual users, control over their own data is more flexible, and users can decide where and how to share data. At the same time, for marketers, with more accurate user personal information data, more product audience users can be found during marketing, including but not limited to individual users, developers and the communities they participate in. As stakeholders expand, marketers must invest time and resources to understand what customers care about and build strategies around users.

Web3 Marketing is more than just websites and Search Engine Optimization (SEO), the Web3 environment enhances the user experience by providing more actionable and interactive advertising. It's a good thing for marketers because they can now deliver more targeted advertising to consumers. Web2 channels like content marketing and SEO will continue to exist, but these must be used in parallel with Web3 developments like NFTs and tokens.

Tokennomics empowered marketing

Web3 introduces a powerful new tool for marketing campaigns: token incentives. Its basic idea is when it’s early in the marketing phase when network effects have not yet kicked in, provide users with the economic utility through token rewards to compensate for the lack of local utility.

While there are many types of incentive types, they all have a common goal of pushing someone's motivational button and making them willing to do something with the highest level of self-dedication. Therefore, incentives are tightly coupled with motivation.

An ideal motivational design is one that fully integrates intrinsic and extrinsic motivators.

Incentives can only have a positive impact when they are properly designed and executed by a professional and trusted team. Now let's assume everything is in place. In this case, the way of token incentives is particularly excellent. These tools will be integral to solving at least two key tasks: the launch of a new network and the alignment of its participants so that they work together to grow the network and increase the value of the token. More importantly, they may be more efficient and fairer than their traditional counterparts, namely cash and ESOPs (employee stock ownership plans).

Token represents the overall value of a network, just like everyone eating a big cake together. Its value is determined by the efforts of its participants in many aspects. The greater the contribution of everyone, the higher the price of the token may be. So another advantage of tokens is that they can be used for more promotion strategies. As the cryptocurrency environment develops and matures, we will see more revenue-generating options that can be implemented with tokens.

People can trade and exchange their cryptocurrency for another, deposit it, lend it out, provide it as collateral to liquidity pools, stake it, build yield farming strategies, and more. In other words, even now, the possibilities and potential benefits of making money through cryptocurrencies are wider than through cash.

Rather than blindly throwing money at advertising experiments with unpredictable outcomes, token incentives can make things more flexible and economical. Unlike advertising, token incentives are not directly sold. Instead, they provide potential users with the potential benefits of ownership and participation in the development of the network.

Conclusion

The feature of Quest3 is that the incentive model is simple and intuitive, and user incentives can be cashed in time. This short and fast feature gives users a smooth and silky experience, allowing users to intuitively receive the concept that their time is also valuable. But at the moment, Quest3 still has corresponding shortcomings:

The demands of advertisers for user traffic have not been fully developed

The task distributors currently stationed in Quest3 are all well-known Web3 project parties, and there are fewer tasks that can be completed on the Quest3 platform. For such a new mode of getting along with the platform, many project parties with advertising needs may still lack users’ preferences. From intuitively sending orders to users, more advertisers are willing to choose a one-time payment to find KOLs or directly cooperate with large platforms. Not only is it responsible for the retail users, but how to attract the businesses more so that advertisers are willing to settle in such a fair incentive platform is a question worthy of consideration for Quest3.

A lack of grasping users

As a project that is still in the beta version, the upsurge of Quest3 is more about on-chain users entering the platform for a product experience or a novel experience. For most users, this simple way of sending orders to provide incentives, in the end, is still a bit immature. Maybe when the beta phase subsides, there may not be many users who are really willing to continue using Quest3 as a utility platform. How to formulate a more attractive incentive model, such as introducing its own unique token system, accessing staking incentives, or in-depth cooperation with more excellent project parties, etc. are worthy questions for Quest3. There is still a very broad room for development.

Gather the scattered resources of individual users and guide them to achieve the desired goals. This ingenious method is also widely used by various projects in the Web3 world. In the DeFi world, the famous on-chain war for the liquidity of tokens "Curve Wars" has also spawned an on-chain election bribery platform. The principle is to use various incentives to integrate scattered tokens of retail investors to master on-chain voting rights. In the Web3 learning section, learning platforms such as Learnovers also integrated token incentives to encourage users to learn and made full use of personal spare time to contribute to the construction of Web3.

No matter what form of incentives the platform provides, the key point is to make full use of the resources of each individual to realize the characteristics of independent nodes integrating with each other to achieve efficient work. This perfectly matches the requirements for the combination of decentralization and high efficiency in the Web3 era.

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