Everyone is aware of the popularity of play-to-earn platforms. Another buzzword in the tech world is the “Watch-To-Earn” platform. The platform combined DeFi, NFT, and crypto social verse over the Web3 network and was designed on blockchain technology to create win-win situations for content creators and viewers. Wondering how? Unlike traditional platforms, watch-to-earn platforms provide benefits to creators and users.
Read In Detail: X to Earn – Most Profitable Revenue Model
Watch To Earn Platform: Next Big Thing In Tech World After Play To Earn
Creators can enjoy royalty or unique content creation rewards, whereas users can get cash back, points, gift vouchers, subscriptions on any platform, and more. The best thing about the watch-to-earn platform is that duplicate content creators could be penalized.
If you plan to build a watch to earn a platform and grow your business, we are the leading business in the IT industry. So far, we have designed and developed various Blockchain Technology based projects for Gaming, NFT, Crypto, and other industries that help them to enjoy market opportunities.
Now, time to know more about the Watch-to earn platform. Here you will find out.
- Various watch to earn use cases
- Watch to earn a business model
- How much money can you offer for Watching Ads?
- Watch to earn platform features
- How to build a watch to earn a platform?
- Watch to earn platform costing, and
- A few glimpses about us
Various Watch To Earn Use Cases
Here we have listed a few cases that choose watches to earn a solution to engage the audience for a longer duration and appreciate their users’ time investment on the platform.
1. Videos Watching
A great option to fascinate users with your platform by offering them rewards for watching videos from home. These videos could involve celebrity gossip, trailers, movie previews, web videos, cooking tips, health and fitness activities, and the list continues. There are a plethora of options on the internet that you can offer to your users and grab their attention. Some of the platforms are also offering TV shows to earn money.
2. Online Surveys
Conducting online surveys is one of the significant steps for businesses to find their product or business progress. But, only a few people participate in these surveys. The most common reason is people did not get anything from these surveys in exchange. However, offering online surveys with the power of watch to earn platform serves dual benefits for users and businesses as users take more interest in participating in surveys and earn handsome rewards.
3. Playing Games
Other than play-to-earn platforms, many watch-to-earn platforms conduct surveys to understand users’ interests. These offer users to earn points by participating in games and quizzes available. Earning specific points, users can convert digital money into native currency or buy something from NFT marketplaces in exchange.
4. Read Emails
Reading Emails will no longer be a daunting task for readers, especially when an industry is offering something in exchange for reading a particular email. The platform helps to uplift users’ interest and let them find out interest offers and what’s newly offered by businesses.
5. Ads Websites
Another prominent industry is planning to grab customers’ attention by offering them to watch ads through smartphones. Users get paid for watching videos or ads without setting up a special setup. These platforms also allow you to run ads on your phone background or through your phone’s lock screen.
6. Online Shopping
Online shopping platforms provide award-winning opportunities for shoppers. Users can shop as well as watch ads that offer point-earning options. On reaching a specific set of points, users can redeem them in exchange for a discount. The platform is also categorized as a watch and earn platform where users watch videos and earn points.
7. Streaming Platforms
Streaming platforms like Hulu, Netflix, and more are powerful options. You can integrate a similar platform with the power of blockchain technology and cryptocurrency to provide an option of offering points or tokens for watching videos. These platforms can also arrange quizzes to offer reward points to users.
Watch-To-Earn Business Model
Watch to earn platform turns around 4 basic criteria where users can collect, buy, sell and exchange digital assets. Obtaining or conducting these platforms’ transactions are completely secured means as the platform is backed by blockchain technology. Let’s understand more about the Watch to Earn platform business model.
The platform allows users to collect points from any platform. Users can watch games, ads, and videos more to collect points. The target audiences can also participate in quizzes to enhance their points collections.
In exchange for collected points or crypto tokens, users can utilize them to purchase anything from a platform or defined shopping networks. Many businesses collaborating with ecommerce or NFT marketplaces provide an opportunity to buy trending stuff like bored apes, gaming accessories, etc.
Blockchain-based Watch to earn platform offers not only buying options but also provides selling opportunities. Users can sell their digital tokens or digital assets to others. This could become a revenue-generating option for businesses too.
Exchange allows users to share their digital tokens with others to buy or acquire something else. For instance, if the user does not want to redeem points for similar options, exchange helps others to buy certain items and keeps others engaged with your platform.
Watch-To-Earn Platform Features
Here we have listed the must-have features in your watches to earn platforms. Check out these, so you don’t miss anything while building platforms like watch-to-earn.
- Everything Managed From Dashboard
Your platform must be embedded with rich dashboard features. These will include;
- Watch All User: To understand the number of people using your platform and for how long. It helps you to create more precise business policies.
- See All Subscription: To know how many people are empowering your platform with a paid subscription and whether you need to amend your current subscription plan or not.
- Check All Pending Payment And Maintain: A one-tap click lets you find all the details of pending payments and how you can maintain them. You can clear users’ bills or ask them to renew their subscription plan.
- Added Watch Request Of Subscription: Gives an authority to the subscription manager to add a watch request to the subscription plan. It helps in making a personalized customer experience.
- Add And Send Notification In App: Admin has the authority to add and send notifications in the app with a single click. One tap click can help users to know what is new or trending on the platform.
- Sponsor Ads Create: Admin can create sponsor ads that let the business generate revenue. Admin can also set geofencing for viewers to check ads in particular areas.
- App Update Notification: Due to changes in technology, adding new features, or any other reason, the admin can instantly send app or platform information to all users.
- Reward System Added: Admin has all the credentials to add a reward system in the form of crypto tokens, points, cash back, or other options.
- Membership Added: Admin has the authority to add or remove members from the platform to eliminate fraudulent activities.
- API Support
Your platform must be integrated with a third-party API that helps your business to automate tasks, integrating programs and databases with current industry applications. These APIs ensure a smooth, continuous flow of information on the platform that enhances users’ experience to watch and earn on your platform.
- Quick Money Withdrawal
Another great feature that every user wants to experience is quick money withdrawal features. It helps users get instant money in their account, whether in the form of crypto tokens or native currency. The opportunity of immediate withdrawal can help the users to raise their experience.
- Dedicated Support System
A sophisticated system support option can let your users keep in contact with your platform anytime and anywhere. You can offer chatbot or customer care support that guides users about the best reward earning potential.
- Wallet System Added
Wallet systems on the platform keep users’ balances safe in secured wallets. You can approach experts to build customized crypto wallets that fit into your business and customer needs. Blockchain-based secured wallets help your customers to pay and receive money directly from the wallet.
- Login Signup System Added
Quick to signup and login information can be a matter of ease for customers to land on your platform instantly. The platform can be integrated with google accounting or other prominent accounts that allow users to register and start earning while watching creative content quickly.
How To Build A Watch To Earn A Platform?
To build a professional watch-to-earn platform, you will have two options.
- Building on your own
- Choosing a watch to earn development company
The first option always seems to be cost-effective; therefore, many people choose to go with it. But it should be only considered if you have knowledge and experience in the blockchain and crypto industry. You can build solutions around the modern technology that serves fruitful strategies.
On the other hand, choosing a watch to earn from a platform development company, Suffescom Solution, always becomes a trustworthy choice. You can get a design to develop services embedded from industry experts under one roof. As we have 150+ blockchain experts who have delivered top-notch solutions in the industry. Our experts focus on easy-to-navigate features and customer-centric designs to grab users’ attention.
Watch To Earn Platform Costing
There are a plethora of factors that define the platform development costing. So, when you are on the board of building watch to earn platform, you should focus on:
- Project type and platform complexity (like for Android, iOS, and web)
- Team size required to build platform
- Modern Design and UX
- Latest Technologies to be used in the platform
- Testing! Testing! Testing!
- Your target audience
- Maintenance costing
Discussing it with industry experts is the key to getting a precise project estimation. Marketing and business development experts can clearly estimate the project and how costing will impact your platform features.
A Few Glimpse About Us
Technology Knowledge: We pick the best industry experts with the ability of extensive industry and platform knowledge. We have delivered various industry-complex projects under a predefined timeline.
Smart Contract Integration: Our blockchain technology experts have in-depth knowledge about creating, auditing, and updating smart contracts.
Modern UI: We focus on designing and developing a modern user interface with the ability to catch users’ eye-balls. Give us a chance to build your system design too.
100% Secure platforms: We care about our customer and their business. Hence we aim to build a 100% secured system loaded with an array of features and functionalities.