Can CoinMarketCap Earn Program Help Crypto-Adoption?

December 14th 2020 new story

CoinMarketCap, one of the leading information and price tracking tools used by cryptocurrency enthusiasts from all over the world, is actively promoting crypto education with its rapidly developing platform CoinMarketCap Earn.

An innovative way to increase the cryptocurrency adoption levels, CoinMarketCap Earn is a platform that allows users to not only expand their knowledge in crypto but also to acquire crypto assets in a low-risk way.

A similar platform by Coinbase was launched back in June 2019. The project was a huge success and attracted a lot of users, encouraging them to engage in learning about various cryptocurrency projects.

CoinMarketCap Earn Rewards Users for Learning About Crypto

CoinMarketCap was acquired by Binance earlier this April. At that time, Binance CEO Changpeng “CZ” Zhao mentioned that he thought of purchasing CMC with the expectation of improved growth, stating: “CoinMarketCap has more users than any other product in the crypto space.”

Since the acquisition, the platform has undergone a number of changes. Thanks to one of those successful developments, cryptocurrency fans now have a chance to learn all about crypto and earn money while doing that.

CoinMarketCap Earn is a special platform created by CoinMarketCap that allows users to earn cryptocurrency while learning about a particular crypto project. The principle is simple: anyone who watches a series of educational videos about a certain cryptocurrency project and then successfully passes the quiz will receive a fixed amount of tokens related to that project as a reward.

So far, the platform has partnered with six different cryptocurrency projects: The Band Protocol, Kava.io, Terra, Helium, Orchid, and The Sandbox. 

The Sequoia-backed cross-chain data oracle Band Protocol was chosen as the first project to be launched on CoinMarketCap Earn. The campaign was aimed at promoting cryptocurrency education and giving users a chance to test their knowledge as well as get some crypto assets.

Each CoinMarketCap Earn campaign lasts eight days. The latest campaign that was launched on CoinMarketCap Earn is The Sandbox education campaign.

The Sandbox is the First NFT Gaming Project on CoinMarketCap Earn

The Sandbox is the first NFT gaming platform that made it to CoinMarketCap Earn program. Users are now able to learn about The Sandbox and get SAND tokens as a reward. The SAND reward pool stands at around $400,00 worth of SAND, which is approximately 10,000,000 SAND tokens. CoinMarketCap Earn plans to reward 40,000 crypto fans with 250 SAND per user until the funds run out.

Another update that came along with the latest CoinMarketCap Earn campaign is the upgraded token distribution process. Now, thanks to an improved process, only CMC users with Binance KYC-verified accounts will be eligible to take part in the Earn campaigns.  

Can CMC Earn Program Approach Fuel Wider Crypto Adoption?

While the CMC Earn program is definitely a great step in the right direction toward improving crypto education levels, we are still at the very beginning of a journey toward a wide-level adoption and understanding of cryptocurrencies.

There are numerous free and paid courses about Blockchain and cryptocurrencies that are available online to users. The fact that there is a lot of material that is easily accessible online is great. However, it is not certain that all of the published material online is accurate. In addition, despite the theoretical knowledge of blockchain, many still lack the understanding of how exactly cryptocurrencies are used in real-life and what are their values and benefits.

This gap is what the CoinMarketCap Earn program is trying to fill at the moment – the project is educating people on specific real-life projects and shows how exactly those can be utilized. 

It is very possible that such an approach with incentivized learning will result in better cryptocurrency adoption levels in the long term, as CMC Earn expands the portfolio of its projects.