Quest Love: A First Look at Blockchain LoyaltyPrograms
AI summary of the linked articleJoseph Al-Chami and Jeremy Clark analyze a proprietary dataset from one deployed blockchain quest system, which offers small rewarded tasks that ecosystems use to engage users. The dataset covers 43 unique quests offered over 10 months, with 80M completions. The authors identify amount of reward, monetary value of reward, difficulty, and cost as factors that correlate with task completion, and they also discuss farming and bots and the difficulty of distinguishing real users from automated scripts. |
2 comments mishaSubmitter In early 2024, a new blockchain launched their quest system. 1.2M users showed up. 80M quests were completed. It looked successful... Until 93.5% of users vanished after the airdrop with a negative retention rate: -0.183% But after adding token rewards, RR rose slightly to 0.59% (still very low). What’s behind this user behaviour? TLDR version of the research paper here: https://xcancel.com/JosephALChami/status/1904558501378048248#m There's literally a whole Quest Industrial Complex where you raise money, build a product, pay quest platform for some fake traffic to raise another bigger round, and you can keep going to sleep in 5 star hotels in Cannes and give talks on being an Ethereum builder. |