ThunderCore Masters Ecosystem Retention in Mass Adoption Quest
Crypto has been in the trenches for most of 2022, fighting off the naysayers and a dismal global bear market fueled by efforts to contain rampant inflation.
First, there was the collapse of the Terra LUNA ecosystem and the related contagion effect. Now, the industry is dealing with the FTX collapse and all the fallout left in its wake, which could take many crypto custodians and projects down in the process. In times of turmoil, it’s important to stay focused and fall back on trusted and proven growth strategies.
As CZ from Binance said recently, let’s keep building — steadily and consistently.
As a growing layer-1 blockchain, ThunderCore shares the same sentiments. That’s why we continue to build a stable ecosystem and strictly monitor the liquidity of DApps to protect the safety of the ThunderCore community’s assets.
The results speak for themselves. Our daily-active-user count (DAU) is consistently in the Top 5 on DappRadar. Meanwhile, our monthly-active-user count (MAU) remains above 400,000.
We have figured out how to hold on to our users: by keeping them engaged and loyal. This puts us in a rare position among our peers. Our facility with user retention will be key to taking things to the next level.
How ThunderCore builds user retention through engagement
My experience with user-retention strategies goes back to my early days in the business world. At that time, I pursued a similar approach when I developed my social gaming company Playdom, which I later sold to Disney for $563M. When I founded Playdom, Facebook was opening up its API to third-party developers. I was able to take advantage of this and build games on a platform that I knew would retain users despite the fate of any individual applications.
Let’s take Netflix as another example of user retention. Say someone gets a Netflix subscription because they want to watch a popular show like Squid Game. When they’ve seen all the episodes, they’re probably not going to watch them again. So how does Netflix keep the new user on the platform? Through a recommendation algorithm that serves them up more content they might like. And this is precisely what we do at ThunderCore.
Through our recommendation system, DApps are promoted on our bogo page so that users can browse them with the incentive of daily mission rewards. That way, even if they came for one GameFi game or non-fungible token (NFT) platform, they will be incentivized to encounter more DApps that are right up their alley. Meanwhile, we airdrop to users by monitoring their user activities. If users have transactions or interactions with any smart contract on ThunderCore, user data will be recorded on-chain. The airdrop mechanism will work if they interact with the same category of Dapp.
We also can pursue an optimized discovery experience through data we obtain through smart-contract transactions, which can then be paired with an artificial intelligence (AI) algorithm. This mechanism can be used to monitor user behavior and help them get rewards. That’s how we retain people and keep them interested in all the DApps in our ecosystem.
How ThunderCore is boosting user acquisition with Web2.5
As it stands, most of the blockchains out there focus on capturing more market share with the Web3 audience. This seems like a flawed strategy to me, as the Web3 audience is currently tiny compared to Web2.
That’s why we’ve been focused on shoring up partnerships with multinationals like FICO Corporation, which allows us to hone in on the long list of legacy partners built by these Web2 companies and convert them to the blockchain.
By targeting established brands, celebrities, and other businesses, we are seeking to onboard the next billion users with a Web2.5 strategy; as in, we are outfitting Web2 brands with Web3 tools to bring an even wider user base to the blockchain world.
We’re already seeing the fruits of this strategy pay off, with projects such as the metaverse pre-show for a concert by the Kakkars, one of India’s leading musical acts (over 4.2B YouTube views). Projects like this allow us to introduce ThunderCore to a massive new community of regular people.
The Kakkars concert project arrived at ThunderCore via KK Venture, the Web3 venture capital arm of FICO. KK Venture has spawned dozens of blockchain projects, such as Thailand’s leading NFT ecosystem E-Verse and a collaboration with Unicef Thailand.
We’re also teaming up with e-commerce giant 91APP to roll out another Web2.5 use-case called PointSwap, a loyalty rewards points exchange that will launch at the end of the year. PointSwap will use an automated market maker (AMM) to price brand loyalty points in relation to one another. The points can then be bought, sold, or traded, letting people get more value out of their everyday brand purchases.
Yet another Web2.5 use-case we’ve developed is our project with Goer Tech Inc, which is developing an online board game/educational platform that provides NFTs for VIP-membership certification, which in turn boosts customer loyalty.
By targeting Web2 users with these projects, we believe we can bring Web3 to a massive new audience.
Final thoughts
ThunderCore is serious about bringing blockchain to the masses. We believe in the power of this technology and the ideal of a decentralized future for the web. In order to reach it, we will need to get to a point where people are interacting with blockchains without even realizing it. This could be for NFT ticketing, owning digital collectibles, trading loyalty points on an exchange, or many other use cases.
Currently, our team is working to help Web2 companies roll out all of these features and more for their customers. And we have the solid technological foundation and ecosystem-retention skills to take them to Web3 and beyond and keep them there.
