Tweet mining, the future is boundless? Understand the marketing strategy of Tip Coin in one article

Original author: bayemon.eth, ChainCatcher

According to a report from DataReportal, there are approximately 4.8 billion active social media users worldwide, accounting for nearly 60% of the global population. Based on historical growth data, it is projected that by 2027, the number of social media users in the world will reach 5.85 billion. From a market share perspective, the social media application market is valued at $49.09 billion in 2022, with a compound annual growth rate expected to reach 26.2% from 2023 to 2030. Furthermore, GWI data shows that the average time spent by people globally on social media is about 6 hours and 37 minutes, which translates to approximately 11 years of a person's lifetime spent on social media.

Whether in the Web2 or Web3 world, social interaction has become an essential need for users. The enormous market share and the bottomless pit of demand have provided sufficient reasons for more and more projects to enter the "social" arena. Recently, following Friend.tech's attraction of attention to the social field in the Web3 world, another social project called Tip Coin has started to gain attention.

Tip Coin is a new type of social project based on X (formerly Twitter) and combined with cryptocurrency. Its goal is to allow users to earn points (which may later become project tokens) by participating in content creation through "tweet mining."

Users only need to bind their accounts on the Tip Coin official website and when creating, retweeting, or commenting on content on X (formerly Twitter), mention @tipcoineth and add the $tip hashtag. They can earn points based on metrics such as page views, likes, replies, retweets, and quote tweets.

Due to its early stage and low entry barrier, Tip Coin attracted approximately 100,000 users to participate in tweeting and commenting in just four days since its launch on September 1st.

However, for the current Web3 social platforms, whether it's Friend.tech, which quickly "rose high but eventually became a gambling paradise," or Lens Protocol, which has been busy but still struggling to gain traction, it seems that no one can truly grasp the trend of Web3 social and become a long-lasting application.

Currently, besides the simple form of interaction of earning points, Tip Coin has not disclosed its actual operational model. The future development and empowerment of Tip Coin are still unknown. The official team stated that they will soon release the contract, which will further arouse the users' interest in the future gameplay and development mode.

How can users participate at this stage? Can Tip Coin, standing on the shoulders of the Web2 giant, survive in the fiercely competitive social media landscape? This article will briefly analyze Tip Coin's current marketing strategy and explore the challenges it faces.

Tip Coin Rules and Strategies

Simply put, the gameplay of Tip Coin can be summarized as "Web2 giants redirect + Web3 token airdrop". It leverages the existing X (formerly Twitter) relationship network as a traffic entry point to attract early users through the expected token airdrops in the Web3 world.

Basic Rules

Step 1: Visit the official website and click on "Login" in the top right corner, then choose to connect with your Twitter account.

Step 2: Follow the instructions on the official website to activate your account. You need to send a validation tweet with $tip@Tip Coineth and retweet the official tweet from Tip Coin. Then, click on "check status" to complete the account activation.

Once successfully activated, your account will receive 10,000 points.

In addition to earning 10,000 points for the initial tweet with @Tip Coineth $tip, Tip Coin "daily tasks" can be rewarded through the following three methods:

- Original Tweet: Publish original tweets with @Tip Coineth $tip. Points multiplier: 25. Initial points (given upon tweet): 10,000. Additional points will be given based on the tweet's readings, likes, replies, quotes, and retweets. You can earn points from 5 original tweets per day.

- Tipped Reply: Reply to other people's tweets with @Tip Coineth $tip. Points multiplier: 1. The maximum limit for earning points from replies is 50 per day. Although Tipple Reply can receive additional bonuses based on readings, likes, etc., there is a limit of 25,000 points.

- Replied Kickbacks: You can also earn points by receiving replies from others. Points multiplier: 1/10. There is no daily limit for earning points in this way.

Points bonuses for tweet readings, likes, replies, quotes, retweets, and references are as follows:

PS: The specific point calculation can refer to the official website Expected Point Calculator 

Step 3: Repeat the "daily tasks" mentioned above within each week (Tip Coin Epoch is in weeks), become the Social Token King, and have the opportunity to be listed on the Social Cow Honor Roll.

Step 4: Redemption: Starting from September 1st, each week is an "Epoch", the points obtained from all social activities in the previous cycle will be calculated and exchanged for project tokens $tip within this cycle.

Point accumulation strategy

1. Complete the daily tasks and tweet diligently: This strategy is more suitable for Twitter influencers or KOLs with their own fan base. This is also one of the reasons why Tip Coin chooses to directly associate with X accounts, attracting a wave of new traffic through the influence of their fan base and fully leveraging the "fan economy". The current top two users in the ranking, @Smartecio and @ix_wilson, both follow the route of monetizing their fan base.

2. Utilize "financial resources": As there is still some time before Tip Coin Epoch 1 ends and the token economic model of Tip Coin has not been officially announced yet, for the majority of Twitter users without a large fan base, besides the fixed income from daily tasks, attracting traffic requires some "sincerity" in the form of "real money" to exchange for comments, likes, and retweets. This is also the strategy used by the third-ranking user, @CryptoYjj - selecting 5 lucky viewers from the comment section every 24 hours and sending them 50 USDT. It should be noted that the first and second-ranking users have follower counts of 19,000 and 39,000 respectively, while the third-ranking user only has 1,353 followers. Despite the huge difference in follower count, they can maintain a nearly equal level of points, showing that "money really can do whatever it wants".

3. Technology and Ferociousness: When the official only inspects "quantity standards" such as publishing, liking, and reading, for Twitter (X) where the current water numbers are rampant, it is most appropriate to let the bots directly brush the numbers for users who only want to mooch with zero cost. In addition, users can also consider adding some tags like #Vitalik when tweeting, triggering the "passive skill" of the bots to automatically comment and carry out drainage. However, it seems that the authorities have already noticed this point and stated that the impact of bot intervention may be gradually eliminated in subsequent version iterations and network upgrades.

Challenges that Tip Coin faces

From the perspective of the Tip Coin project itself, since the project was launched on September 1st and the first Epoch will not conclude until the 8th and enter the clearing and currency exchange stage, users at the moment are unable to distinguish the project's profit model. At the same time, Tip Coin has not yet disclosed the token economic model and has never carried out token airdrops. Therefore, as mentioned above, the value of the project's token tips is still unknown. So for the majority of users who came for the airdrops, if the early value does not meet expectations, Tip Coin may suffer severe backlash. In addition, as a social product, Tip Coin has not yet deployed contracts and currently relies only on fixed project mechanics such as sending tweets, retweeting, and liking to obtain points. Even if it is built on top of a Web2 social giant like Twitter, the gameplay still appears to be too monotonous and has limited long-term appeal to users.

By comparison, Mask Network, targeting social giants and committed to lowering the barriers for users to become bridges from Web2 to Web3, once led a new paradigm of Web3 social interaction by enabling functionalities such as sending encrypted cryptocurrency red envelopes, encrypted payments, and sending encrypted messages without switching current social media. Apart from simple social functions, Mask Network also integrates various rich functionalities such as NFT transactions, ITO, public fundraising, digital identity, and even voting and DAO community governance.

However, even though Mask Network has considered "laying out social ecology," it still cannot prevent people's "three-minute enthusiasm" for SocialFi projects. Therefore, for the current Tip Coin, if the goal is to become a sustainable social platform, then functionality and practicality really need to be enhanced in the next stage.

Lastly, returning to social interactions themselves, the definition given by sociology is "social activities in which individuals interact with each other, engage in material and spiritual exchanges, and share opinions, emotions, experiences, etc. accompanied by the transfer of informational elements." The current form of Tip Coin, where "social networks are assets and daily sharing is treated as a KPI," seems to focus more on the results of social behavior while neglecting the emotional communication and value sharing that should be present in "normal" social processes. When participants have passed the three-minute enthusiasm and the airdrop expectations cannot reignite the passion for tweeting, the subsequent answers provided by Tip Coin may be the true measure of its "sustainability."