What We’ve Learned From Two Years Of WOM Protocol Being Integrated Into YEAY
One of the advantages of being a living, breathing web3 project is that you actually have the benefit of hindsight. Thanks to the early decision to integrate the WOM Token into the YEAY app as a first adopter, we have now amassed two years of testing time to see what happens when you introduce a native cryptocurrency to a community of non-crypto natives. In the case of YEAY, the WOM Token was integrated as a mechanism for earning rewards for recommending products using short-form video, and as a means of supplying brands with scalable user-generated marketing campaigns.
At the same time we wanted to see what would happen when we integrated the WOM Token into platforms targeted more directly at the crypto crowd, which is why we launched the WOM Authenticator — an app built for anyone looking to earn incremental amounts of tokens by peer-reviewing recommendation content — as well as the BULLZ product range, giving a more crypto-savvy audience the chance to create-to-earn by recommending their favorite web3 projects.
Having multiple apps in the wild has helped us observe how two different segments, web2 creators and web3 create-to-earners, react to participating in the WOM Ecosystem and ultimately which direction to take to keep driving network growth and token adoption.
We’re excited to say that in terms of user adoption and strength of use case there is one segment that stands out as the clear winner — the web3 create-to-earners on BULLZ. This is a crowd that genuinely gets a kick out of recommending the web3 projects they love, not only because they want to help the web3 ecosystem grow, but because they want to prove the crypto skeptics wrong.
Truth be told, we were just a little bit too early for YEAY. There’s no doubt that deep-rooted beliefs in the long-term benefits and viability of cryptocurrencies and web3 technologies are growing among web2 creators, but right here and now earning fiat is still a welcome way for many influencers and creators to create a sustainable career path. The challenge really lies in finding better and more efficient ways to collaborate with brands. We will therefore soon be ending our integration with YEAY, ahead of a major revamp and relaunch of the YEAY app. We’ll be ready and waiting to re-integrate WOM into YEAY as soon as the timing is right.
This means that anyone who has previously earned WOM Tokens through the YEAY app can now choose one of the following options before March 1st 2023:
- Withdraw their WOM Tokens to another wallet (*minimum withdrawal limits apply).
- Sign up for the WOM Authenticator app on the App Store or Google Play Store, then fill out the linked form including their WOM Authenticator username. We will then transfer any remaining WOM Tokens from the YEAY app over to the WOM Authenticator app, where they can continue to hold the WOM Tokens in their wallet, redeem the tokens, or earn further tokens by becoming a WOM Authenticator.
The revamped YEAY will be the heartbeat of brand collaborations, providing everyone from established influencers, through to amateur creators who are just getting started, with a level playing field for finding brand partnerships and earning rewards through creating short form video content. Brands, meanwhile, benefit from scalable influencer campaigns and highly cost-effective user-generated marketing.
As we outlined in our whitepaper, our goal has always been to continue expanding the WOM Ecosystem and integrating the WOM Token into multiple platforms, which is why this year we will be extending our ecosystem of web3-based apps.
We designed the WOM Protocol to not only pay out to creators and authenticators, but also to the apps that integrate the WOM Token. In other words by integrating WOM, web3 apps have an opportunity to create a new revenue stream and replace outdated advertising monetization models with more authentic UGC recommendation content for a better user experience.
Armed with two amazing years of WOM integration insights, we are excited to see how our ecosystem of web3 platforms will continue to grow in 2023 and look forward to bringing you up-to-date news as the story unfolds.
