The First Days of a New Economy
The idea behind the Effort Token economy was conceived in 2019. The inspiration came to me as I observed two things: students were using their free time unproductively and brands were giving out discounts and promos like candy to attract customers. I saw an opportunity here to bridge the gap and help the students earn with their free time and help brands connect to their market effortlessly. This is where the play-to-earn app Bengga and the Effort Token come in.
To try out the idea, we went very quiet and private to build a minimum viable product. We did some initial market research and testing and found that the product fit the market. Even though we tried to be quiet with Bengga, we made over 1 million+ impressions for earned media on different channels. For a market test, this was great news.
To recap, here are the accomplishments made during the first 15 days of the economy:
1. Bengga and Effort Wallet v1
Bengga was introduced as the first app to be part of the Effort Economy, which was followed immediately by the Effort Wallet v1 as the second app. The testing of $EEFT utility inside Bengga and the testing of sending and receiving EFFT in Effort Wallet are also ongoing smoothly.
2. Website and Litepaper Update
We were able to launch the second version of the website. The litepaper was also released for public review to show that the Effort Economy goes beyond gaming, eSports, DeFi and NFTs. It connects all those categories and goes beyond by connecting industries and ecosystems as well.
3. Upgrade Bengga and Effort Wallet v2
Bengga currently has more than 10,000 users and more than 200 Effort Wallets have been created in the past week alone. Bugs and glitches were identified by the players and resolved by the Effort Team. Currently, Bengga has a rating of 4.1/5 which is way above industry average and 5/5 rating for the Effort Wallet.
4. Update Inventory of Games for Bengga
The current number of games in Bengga is now 200+
5. Increase in Players
Every person, community member, follower, advocate and believer of the Effort Economy is called a PLAYER. Everyone has a role to play and that requires EFFORT. Currently, we have 800 community members, 700 followers on Twitter and more than 1,000,000 impressions for Bengga in different social channels.