We are happy to introduce the Realm Engagement Program, a unique way to drive engagement and growth in Realm’s mobile metaverse.
Why Web3 is perfect for Engagement
Realm’s main attraction to Web3 is the possibility of shared value creation and secure ownership of that value using blockchain technologies.
We’ve spent over 18 months designing a product that effectively aligns incentives, decentralises platform ownership and maximises value creation, while ensuring there are no short or long term growth limitations.
We think these models should be adopted by more web3 projects to grow our entire space, so over the next few months we will release a series of detailed articles and a Whitepaper V2, which encapsulates the sum of our knowledge and a detailed understanding of how metaverses should operate if they are looking for mainstream success.
For now let’s take a birds eye view of the problem/solution for maximising engagement & collective value creation in the metaverse.
PROBLEM: The cold start issue
Metaverses have a cold start program meaning they need players to engage in the metaverse but there aren’t many engaging things to do.
In existing metaverses players are asked to invest some $ value into the ecosystem in order to get access to rewards in the form of tokens, NFTs and land.
In essence existing metaverses turn players into investors that are speculating that the value of their investment will increase as more “players” join the ecosystem.
After some amount of time the new players slow down, the inflow of capital into the ecosystem reduces and the reward value starts heading towards zero.
SOLUTION: Create value for your players don’t extract it.
Realm enables all of our players to create and earn $ value from the start, without putting any $ value in, all they need to do is play.
We achieve this by running adverts in our apps and splitting the advertising revenue:
- 30% to players
- 30% to creators
- 30% to Realm
- 10% to impact causes (remove plastic, plant trees etc) 😊
The adverts come from digital ad exchanges like Google Admob and the advertisers pay in fiat money, which is used to buy $REALM that gets distributed to the above parties. The more people play the more adverts are sold and the more $REALM that gets purchased off the market. This approach bridges Fiat monies into the Realm ecosystem and never requires any players to invest money.
How does it work?
- 5% of the entire $REALM token supply will be allocated for phase 1 of the Player Engagement program.
- It will launch between the 20th — 30th of December.
- A similar program will be launched for creators who are building using the Realm Builder Tools in Q1 2023.
- $REALM rewards have an unlock period that solves key problems with rewards and inflation. This will be described in detail in a follow up article, so as to not overwhelm the reader.
The Player Engagement Program has 3 core engagement metrics that are used to calculate the $REALM rewards for each player each day.
- XP earned playing.
- XP earned each day by people you refer.
- Number of $REALM locked in your vault.
In order to earn more $REALM rewards a player can take the following actions that support the network:
- Play for longer to earn more XP.
- Refer Realm to new players.
- Lock $REALM in their vault stabilising reward value for all players.
Has this worked before?
Paypal had immense growth, how? They paid people to join and every time a person joined their payment network it made the network more valuable for everyone, as they could all send money to more people.
These network effects are found everywhere in Realm’s metaverse:
- More players = more people to compete with, meet and more value generated in the network via advertising.
- More players = more incentives for creators to build new experiences and earn through a similar engagement based system for creators.
- More experiences in the metaverse increases the chance that all players find something that interests them, which increases engagement again.
Over time as the network effects kick in, growth of the metaverse increases and people want to hang out there, because it’s really fun, not because they are being paid to be there.
Please follow our realm telegram channel to be alerted when it drops.
Check out this video of Elon explaining the power of network effects.
About REALM
Leading mobile Metaverse with a purpose. Empowering players, creators & brands to participate in generating the future of entertainment in a co-owned virtual universe.
REALM players and creators are rewarded as they engage with the platform. The native REALM builder tool allows anyone, with no coding experience, to build personalised microverses, tell their story, and trade NTFs on the REALM Marketplace. Creators and brands can bring to life unique music, art, games, and anything else they can imagine into their realms.
