For many blockchain-enabled services and products, reaching mainstream adoption has been a virtually not possible objective. Even essentially the most celebrated initiatives within the crypto ecosystem battle to broaden their neighborhood past blockchain-savvy customers. Augur, the well-known betting protocol whose REP token peaked with a market cap of greater than $1 billion and was utilized by different revered initiatives comparable to Sequoia-backed Veil, is utilized by lower than 200 customers each day. Veil in the end shut down after 6 months of exercise as a result of “it tried to do an excessive amount of, didn’t supply a very good onboarding expertise, and existed in a netherworld between being decentralized and controlled,” in accordance to founder Paul Fletcher-Hill.
A number of months in the past, a couple of of us at Columbia College began engaged on a mission that might in the end turn into Yup.io. Our imaginative and prescient is to precisely replicate and attribute on-line social capital by empowering individuals’s opinions, in the end constructing a self-sovereign platform-agnostic id primarily based on social consensus. Our preliminary minimum-viable product is a browser extension that rewards customers in cash (through our YUPX token) and clout for score something on the net. It really works on each website on the web, however has overlaid options for social websites like Twitter, Reddit, Google, and YouTube permitting customers to vote immediately on particular content material comparable to tweets or subreddits.
We decided that our campus and fellow college students can be the most effective target market for our first beta launch. However how may we get college students that know nothing about crypto/blockchain/dapps/wallets to use Yup? We’ll break down among the most vital selections we made to seize the eye of 18-year-olds and construct a product that was straightforward sufficient for them to use.
On-Campus Marketing campaign
On Yup, we use coloured underlines to replicate the agreed-upon social worth of content material in numerous classes: blue/inexperienced is highest, orange/crimson is lowest. On Thursday Sept 5, the day of our official beta launch, we lined Columbia’s campus in the identical color-coding scheme as Yup’s on-line overlays. Though this effort took ourselves and a dozen beneficiant mates all evening, we managed to tag buildings throughout campus and the encompassing neighborhood for a complete price range of $250. We used 500 ft of adhesive vinyl that we caught on buildings, awnings, menus, statues, workplace doorways, mailboxes, posters, and extra.
Moreover, we partnered with 16 bars, eating places, and retailers round Columbia’s campus for this marketing campaign. A few of these venues have been chains comparable to Famiglia Pizza and Junzi Kitchen, whereas others have been native hotspots comparable to 1020 Bar and Mel’s Burger Bar. We laid the groundwork with these companions over two weeks prior to the color-coding marketing campaign, however it was value it to have the involvement of a few of Columbia college students’ favourite haunts. Most of those venues have determined to hold their colours up for now, even one month later.
The response to this marketing campaign was constructive, with each mates and influencers sharing our content material on social media, talking extremely of the product. Bwog, the snarky Columbia information weblog, even wrote a bit about us. We realized that constructing a terrific product wouldn’t be sufficient, and that our skill to suppose outdoors the field in how we marketed our new product would make or break us.
Making it related to college students
Yup is supposed to be common, functioning as a social layer for the entire internet, however social networks like Twitter are so giant that “yupping” on them as we speak is sort of a tree falling in a forest — nobody hears it. We knew that the one approach to get faculty college students enthusiastic about Yup was to construct options that present utility for them as we speak and create school-wide consensus about one thing.
We concluded that one of the simplest ways to go about this is able to be to add distinctive Yup options comparable to the power to fee programs and professors. By overlaying Yup on prime of present Columbia web sites, it made Yup related to the every day lives of Columbia college students who’re already attempting to resolve which programs to join and professors to work with.
Yup isn’t attempting to be a device just for faculty college students. However it helped us to attain a essential mass with one area of interest viewers. I might think about that any new product attempting to attain mass adoption may begin with tailoring its service to one subset of its customers after which broaden from there.
Good is the enemy of adoption
As a result of we needed customers who’ve by no means owned or interacted with crypto earlier than to use Yup, we couldn’t count on them to purchase cryptocurrencies so as to pay for transactions. That lead to our resolution to construct our MVP on the EOS blockchain. Though we aren’t essentially followers of the centralization of the EOS chain, we had to make the most effective resolution for making adoption as straightforward as attainable. That meant that we couldn’t construct our decentralized software on Ethereum given all the intermediate steps concerned with Metamask and KYC.
On EOS, we are able to cowl transaction prices through proxy staking. This cuts down the person signup course of to simply two steps: downloading the Yup extension and utilizing it — similar to any conventional app or extension. So as to handle our spending, we restricted account creation to college students and transactions to 10 per day. We realized that if Yup is basically designed for all individuals, we should deal with good contract platforms as instruments that allow us to construct nice merchandise, not tribes that we want to stay loyal to.
Whereas most of us — myself included — working within the blockchain area favor pure decentralization, we went with a semi-decentralized distributed ledger to assist us scale back friction for brand new customers. If, as blockchain advocates and builders, we’re critical about reaching mass adoption, then we want to suppose extra concerning the wants of the individuals we’re hoping to persuade.