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Li Jin
@li
In a world where most crypto projects have points programs, the core product will be what matters most. However, there are still best practices for points design. Outlining lessons from a recent discussion hosted by @variant: https://paragraph.xyz/@0x808a2adbd0a3fc679e3f7cd18d4f579bfcaaec9c/dissecting-the-points-meta
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Li Jin
@li
Points programs are the gamified manifestation of the first layer of Maslow's hierarchy of needs: physiological needs. They reward the customer with tangible benefits. True loyalty comes from upleveling users to higher tiers of Maslow's pyramid: self-actualization. The brand becomes intertwined with users' identity.
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TheModestThief🎩
@thief
great read - one thing I haven't quite seen in the web3 points meta is a points sink. e.g. using points to open loot boxes for skins/themes (any non-tradable "cosmetics"). clearly, it doesn't apply to the bulk of dapps (rainbow wallet, maybe?) and it opens some vector for legal issues too.
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KMac🍌 ⏩
@kmacb.eth
Enjoyed this thanks for sharing. How do you think it plays out? Will points become an historic artifact & look like anachronistic rent seeking in the years ahead? Seems like advantages of the points are for the producers & not necessarily for the participants. Participants become producers in internet native projects
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Matt 🎩
@malston
Re. redeemable vs. status-earning - many of the most successful web2 loyalty programs employ both (w/ status-earning needing renewal on some regular cadence), e.g airlines / hotels. You get the benefits of both with little downside as they're typically keyed on the same set of actions, so kind of best of both worlds!
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Coop
@coopahtroopa.eth
Collected! 50000 $DEGEN
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TheModestThief🎩
@thief
thank you this is a gem :-)
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Health XChange
@healthxchange
This is an awesome post! We are constantly iterating and redesigning our points / tokenomics as we go - holding off on a token launch has made user acquisition harder (since listings tend to attract more users) but gives us a lot more flexibility to adapt and learn from other projects
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Coop
@coopahtroopa.eth
Agreed on public blockchains solving the composability problem of most loyalty programs today. I view points that are clearly being used as pre-airdrop counters different from fully onchain points designed for consumer facing mobile apps. Airdrop points are almost always offchain. Fully onchain points are net new.
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tomu
@tomu.eth
Great piece Li! How do you envision composability functioning across various companies? Would Uber be comfortable with their users using accumulated points to book a hotel on Booking? From a technical perspective, it makes a lot of sense, but we also need to develop a universal solution that everyone wants to adopt.
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Shaya
@shaya
Love this article! Great insight 🤝🏼
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