Review&Earn: All You Need to Know About the Hottest Crypto Market Trend of 2024

2024 is already shaping up to be a successful year for the cryptocurrency market. Bitcoin and other fundamental coins have reached new ATHs, regulatory dynamics have improved, and major investors have entered the market, partly due to the launch of Bitcoin ETFs. Several vibrant trends have already emerged in the industry this year. The first trend is built around Telegram Mini Apps, with Hamster Combat and Notcoin standing out the most. The trend of Telegram web3 applications has taken off, driven by the messenger’s nearly 900 million user base, which is almost double the number of global crypto users.

Simple and fun apps that can potentially earn you a buck and are conveniently available inside Telegram’s interface attract a lot of new people to crypto. Notcoin and Hamster Combat’s insane popularity helped crypto topics pop up all over traditional media, helping to popularize the industry even more. The second trend is the rise of meme coins, fueled by the success of tokens like DogwifHat. This token, which features a dog wearing a hat, gained massive popularity since its late 2023 launch, yielding early investors a return of nearly 15x by the end of Q1 2024. Meme tokens like BOME and BRETT reached a capitalization level of $1 billion, which is a significant number even for fundamental and popular DeFi projects. The whole buzz around meme coins is due to the fact that these tokens can massively grow in price in a short period of time. Memes are also heavily endorsed and promoted by the blockchains they’re based on because they benefit from extra traffic and transaction commissions. “Meme-vestors” are a lot like gamblers: they are constantly investing in new memes in hopes of finding a gem that will blow up in price. Although memes originated as a random narrative, they are now a stable crypto industry trend, which will remain at least until the end of this cycle.

In early June, a new movement started gaining popularity in the crypto industry – the Review&Earn mechanic. Based on the Post&Earn mechanic, this new win-win concept could significantly impact the online reviews sector and the development vector of Do-to-Earn projects. The core principle of Review&Earn is that users leave reviews or share recommendations about products and services while people reward the most helpful ones with tokens. This financial incentive encourages people to write detailed and thoughtful reviews that are genuinely useful to others. This also helps decrease the impact of fake reviews, making them less prevalent and easier to spot. The Review&Earn concept uses DAO mechanics, where users directly influence the formation and development of their community. Users can vote with tokens to reward honest and helpful reviews, while fake information will be ignored and hidden. Popularizing the R&E concept could revitalize the review industry and the movement can become a socially significant phenomenon. Unlike the popular Tap2Earn format, the Review&Earn concept offers greater value as it rewards socially beneficial actions. This sets it apart from other Do-to-Earn projects, where rewards are given for simple tasks or, at most, physical activities, as seen in move-to-earn projects. Rewarding useful public information seems logical and sustainable, but successful R&E projects will need to address the issue of moderation and information verification carefully. Why Review&Earn Is Gaining Popularity and Which Industries Can Benefit from the tech According to multiple surveys, 4 out of 5 people check user reviews before visiting a new restaurant, booking a hotel, or buying a product. Online reviews carry much more weight than commonly believed, which unscrupulous marketers exploit.

Remember a time when you read glowing reviews and decided to visit a restaurant, only to have a disappointing experience? You may have fallen victim to fake reviews, which businesses can easily manipulate. Freelance platforms are filled with offers to write fake reviews, which can be found within minutes. Given this and the fierce competition for customers, finding genuine reviews is becoming increasingly challenging. The problem of review authenticity is compounded by the fact that people are not inclined to write reviews for no reason. Most people only write reviews when something goes wrong or if they get something in return. In the latter case, review quality and variance is close to zero, since businesses prefer to reward only positive reviews. Popularization of the Review&Earn concept could shake things up and bring back honest and useful reviews. The best application of this mechanism is found in the Hotels, Restaurants & Leisure sectors.

daGama is a post-and-earn RW-map ecosystem where users earn by writing honest and helpful reviews. The app encourages sharing experiences from visiting restaurants, hotels, and entertainment venues, rewarding users who provide valuable information. daGama specifically developed the Review&Earn solution for the travel, entertainment, and restaurant industries, where the problem of fake reviews is most acute. daGama helps to massively decrease the number of fake reviews using a complex system that combines community voting with AI-powered content filtration. daGama ecosystem is built on the “Gama-protocol” that compiles recommendations from a global community of discoverers. With daGama, user reviews help create an interactive “people’s choice” map, highlighting the highest-rated places. The app also encourages users to share information about obscure, but interesting locations, adding exclusive spots to the map and earning users additional rewards. To top thigs off, daGama uses a personalized AI “Vasco” tech to recommend the best locations for each user based on their preferences. daGama app is currently available in a closed beta format and will be publicly available to download on IOS and Android by the second half of the year. The R&E tech pioneer plans to steadily conquer the global market by targeting popular tourist destinations such as London, Rome, Dubai, and Singapore. If the industry appreciates the concept, Review2Earn could become the leading trend of 2024. The Future of the Review&Earn Trend The potential of the R&E mechanism is immense, but for it to become a widespread trend, the market must be ready. Each year, trust in online reviews diminishes due to the difficulty of moderating an ever-increasing amount of content. The reimagining of the review sector presented by the Review&Earn concept is timely and needed by the market. We believe that R&E will irreversibly become a popular and sustainable mechanic due to mass crypto adoption, and the fact that popular mechanics from the web2-world, like product and service reviews, are re-imagined in the web3-world. The tempo is just building up, and we will see the full potential of the Reviwe&Earn technology unfold after the upcoming daGama app and token launch in the second quarter of 2024. The trend is only beginning, so we expect many new Review&Earn project launches very soon.