Sick of seeing colored squares getting posted on social media and wondering what the hell is going on? It’s called Wordle if you’ve missed it. Try it out before reading on, it’s fun.
How’d that go? Welcome to the first trending game of 2022 that The New York Times recently bought “in the low seven figures” only a few months into its existence. It is especially popular on Twitter and has inspired a flurry of insipid articles and parodies. For fear of adding to the chaos, I’m going to take another approach.
Here are 5 things I’d do to take Wordle into the world of Web3; Wordle3, if you don’t mind the cheesiness.
Let’s start with the basics and add ENS identities so users can log-in from any device and win POAPs (basically participation trophies) and streak trophies.
Imagine a NYT arcade where $TIMES coins can be earned and gambled across all their word games – including the famous crossword puzzle! You could wager $TIMES against your success and those who lost would have their wagered coins distributed to the winners.
We can expand on this and host pay-to-enter tournaments, providing huge prizes and aspirations for the entrants. Some of these funds could be bookmarked for charity and/or other future events.
You could facilitate the ecosystem growth by allowing these coins to pay for subscriptions, special events, and any extras you can think up.
If we really want to scale up our word-nerd universe, there could be celebrity hosted vlogs where they combat challengers, speed competitions could be hosted on Twitch, or a user-generated game platform could be developed. This is a thought experiment, so we don’t have a budget, but I think you get my point.
Web3 allows companies to build hyper-specific communities with unique value propositions. Brands need to engage customers in a way that fits their identity. For example, Time Magazine launched TimePieces and has trading volume already over $30 million. If the NYT tried to curate artists and sell them as NFTs as Time did, it would be a dumb move, it’s not who they are.
Using Web3 as a PR stunt might make a quick buck, but it will be seen through and may even turn people against you. Web3 isn’t about MAKING money, it’s about delivering value. If done right, that will expand your market, deepen brand equity, and EARN money later. The key here is focus on identity, understand where value can be added and how engaging experiences can bring customers to you. If this is done right, customers will feel connected to the brand, have a stake in your growth (becoming super promoters), and connect with each other in a world where that seems to be getting harder and harder. If this seems like it could apply to you or your company, dig in and do some research. Don’t worry, WAGMI*.