A Dank Partnership
Meme-ing our way into mainstream adoption, distribution first
Last week, Abridged successfully onboarded over 18,000 users into crypto over a span of 48 hours. No, that is not a typo. And yes, we’re just getting started. 🌶️
Quick word on distribution
Distribution is a big challenge for blockchain projects. After working with a dozen dapp teams to improve their onboarding UX with our SDK, we saw something strange — despite significant increases in user conversions, top-of-the-funnel volume was still sorely lacking.
This observation led to a key insight: Our industry tries very hard to bring people to Web 3, and for good reason — we see the paradigm shift that Web 3 will bring. However, normies are entrenched in their Web 2 networks! Most of their entire online identities revolve around communities on Twitter, Instagram, and Facebook.
This means that to cross the chasm, we have to practice Incremental Decentralization and bring Web 3 to the people instead.
That’s where our partnership with Dank comes in.
Dank Memes
Dank Memes is one of the world’s largest online meme communities. Last month, we partnered with Pillar wallet to explore how we could onboard the Dank community to Web 3. We kicked off our first Dank experiment with a focus on one thing — how quickly can we convert mainstream users to crypto?
To execute the experiment on testnet, we decided to take advantage of Dank’s already-existing virtual currency, Dankcoin, and the vibrant community around it. Dankcoin’s mechanics are simple: it’s earned within Dank’s gaming properties and can be redeemed for prizes like Airpods or Nintendo Switch. The first thing we did was to convert Dankcoin into an ERC20 token with its redemption value intact.
Then using our no-code platform, we created a flow that goes through the following steps whenever a Dank user logs in through their Facebook account on the Dankcoin webpage:
- Generate a counterfactual account contract for the user
- Send Dankcoin to the user’s newly created account
- Convert Dankcoin to ETH
- Convert ETH to DAI
All by just logging in through their Facebook account and letting Abridged do the rest. That might sound heretical to decentralization maximalists, but we let our numbers speak for themselves.
Over 18,000 real users were able to onboard into crypto in under 30 seconds without having to download extra software, write down a seed phrase, get confused from reading Web 3 jargon, etc.
They simply wanted to earn some Dankcoin to redeem some Airpods, and that’s what they’re able to do.
Next steps
Now that we’ve proven that we have the ability to facilitate adoption numbers typically seen amongst Web 2 applications, we have many exciting things in store.
Through our partnership with Pillar Wallet, we will introduce a full-fledged web wallet experience for our users and take this experiment to mainnet. We will collaborate with Dank’s core community of creators and memelords — now well-versed in crypto — to get direct feedback on their needs/challenges and empower them as early evangelists. This allows us to reduce churn, lower CAC, and discover our 1000 true fans. We then plan to collaborate with the Pillar team to introduce all the cool things promised by Web 3 at a significant scale including NFTs, DAOs, DeFi, etc.
Our team at Abridged is incredibly excited to continue pushing the Web 3 UX envelope forward and we’ve seen the same excitement from our users who are experiencing crypto for the first time. With communities like MetaCartel 🌶️, MetaFactory 🤖, and MetaGame 🐙, we definitely have the meme power to demonstrate the value of Web 3 to the uninitiated at a large scale.
All that’s really left to do is to get the complicated tech stuff out of their way so they can be free to do what they want to do.
Want more of Dank?
Check them out at one of these channels:
Dankcoin website: https://dankcoin.net/
Dank Memes Facebook: https://www.facebook.com/DankMemesGang/
Want more of Abridged?
Want to use Abridged for your own project, DAO, and/or community? Have comments or questions? Reach out through one of these channels:
Abridged website: https://www.abridged.io
Abridged Twitter: https://twitter.com/abridged_io
Abridged Telegram community: https://t.me/joinchat/GzdYLUQYAN5ALnGTXmqUcgf
