Cryptocurrencies exist in a complex environment that can prove challenging for newcomers to navigate. However, Hooked Protocol is innovating on this educational landscape by combining gamified learning with blockchain technologies. The platform was introduced in late 2022 with a vision to bridge the gap between new users and the vivacious world of Web3.
Running on the BNB Smart Chain, Hooked Protocol is a gamified social learning platform that leverages the learn-and-earn mechanism to encourage widespread adoption of Web3 technologies. While the potential size of the global cryptocurrency market is predicted to grow at an exponential rate, reaching up to $13.18 billion by 2030, the implementation and full-scale adoption of blockchain technology into mainstream business models have been slow. This is where Hooked Protocol hopes to make a difference.
However, despite its promising approach, critics argue it’s not just about removing educational barriers; issues lie in actual infrastructure. It must be seamless and adaptable enough for businesses to adopt and integrate into their processes. Hooked Protocol also addresses this by offering a suite of tools and solutions. An integrated infrastructure for businesses is part of their model, offering solutions like a decentralized identity login process, a user growth engine, and a social network integrated interface.
To give users a hands-on experience with Web3 transactions, the platform grants users access to the Hooked Wallet. This tool allows interaction with functionalities like token transfers, swapping, and staking, an essential component of decentralized marketplaces.
On a more granular level, Hooked Protocol operates on a dual-token model. HOOK is the governance token used for voting on proposals, earning rewards, and accessing exclusives like NFTs and community event privileges in the Hooked Protocol environment. Additionally, they have the Hooked Gold Token (HGT), a utility token with an infinite supply that incentivizes community contribution.
Their first DApp (Decentralized Application), Wild Cash, introduces users to Web3 concepts via gamified learning while allowing them to earn GOLD tokens. Participants engage in quizzes, invite friends, mine tokens, watch ads, and practice staking and swapping.
While the Hooked Protocol’s encouraging push for education and adoption is commendable, success will rely on its ability to maintain user engagement, continuously innovate within a highly dynamic industry and build an ecosystem that supports businesses expanding into the Web3 world. Its strategy includes a comprehensive content-learning platform, forging economic partnerships, and working on a flywheel-based ecosystem for constant traffic and community growth. Only time will tell if this model can sustain the volatile crypto-sphere and encourage mass adoption of Web3 technologies.
Source: Cointelegraph
