CoinMarketCap (CMC) has just announced the launch of CoinMarketCap Earn, an initiative that pays crypto enthusiasts to educate themselves about crypto assets.
Band Protocol, a cross-chain data oracle that enables the connection between real-world data and smart contracts, will be the first to feature on the platform.
A post on the Coinmarketcap blog elaborated on the rationale behind the launch,
“by providing a platform to educate CoinMarketCap users about crypto assets, CoinMarketCap can increase the breadth of knowledge about the crypto industry — which supports the goal of showcasing the crypto revolution at every step of the way.”
Incentivizing crypto-asset education is not without precedent. In 2019 industry giant Coinbase launched Coinbase Earn, with essentially the same idea: to pay users in crypto to engage in educational content.
CoinMarketCap: Following in Coinbase’s Footsteps
CMC is following in Coinbase’s footsteps, and as the most popular crypto data site, has perhaps even bigger potential. The Earn platform could be welcome news to anyone interested in getting more people involved in the crypto space.
None the least of which is Band CEO, Soravis Srinawakoon, who tweeted:
Educating new users will be key to taking #DeFi and crypto to mass adoption
— Soravis Srinawakoon | BAND (🅑) (@SSrinawakoon) August 12, 2020
In an effort to help educate users about emerging projects, the CMC Earn platform is designed to be simple and user-friendly. Each campaign is set to last for eight days, and a CoinMarketCap account is the only prerequisite for participation.
In the future, CoinMarketCap will be adding more crypto project campaigns with even more educational elements. CMC has some work to do to restore its reputation following several incidents involving biased index rankings.