This ‘quiz-to-earn’ crypto app is taking Indonesia by storm

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For many in the crypto space, their first interaction with the “X-to-earn” model would likely have been through play-to-earn apps. The popularity and success of these blockchain games, such has Axie Infinity, has given credence to the concept and sparked an explosion in these offerings.

Hence, the birth of move to earn, create to earn, wear to earn, stake to earn, watch to earn, and so on. The theme here is quite clear: Essentially, these models try to engage users by enabling them to monetize a wide range of simple but common tasks.

However, given that blockchain-based virtual economies and resource ownership are key linchpins of the Web3 era, the greatest draw of the X-to-earn paradigm is perhaps the ease with which it is expected to penetrate virtual worlds. Here’s where the broader ambitions of X-to-earn firms begin to unveil themselves.

Take Hooked Protocol, the company behind Wild Cash, a hit “quiz-to-earn” crypto app. The secretive firm suggests that the game, which has over 3 million monthly active users in Indonesia, is just the initial expression of its bigger plans, as detailed in today’s featured piece.

The premium story also digs deeper into Hooked Protocol’s wider aspirations and uncovers how it intends to leverage Wild Cash to provide Web2 users an intuitive way to set up their virtual Web3 identity.

Today we look at:

• Hooked Protocol’s grand plans
• Joom, a Portugal-headquartered ecommerce marketplace, expanding into India
• Other newsy highlights such as Tencent creating its own generative AI chatbot and Cred’s BNPL ambitions

— Shravanth

P.S.: If you’re an entrepreneur looking for funding, fill out this form to get your company featured on our list of fundraising startups.

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Let’s get quizzical

Image credit: Timmy Loen

The premise of Wild Cash is straightforward: Users create an account, answer a series of questions, and get rewarded with tokens by the end of the day. They can then choose to withdraw or “stake” this currency, which involves locking the tokens for a period of time in order to earn interest.

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