CoinMarketCap Launches Earn Program with Band

CoinMarketCap has launched an educational program very similar to Coinbase Earn. The campaign will last for eight days, with $160,000 worth of BAND tokens evenly distributed to each eligible qualified user who successfully completes the quiz after watching a short series of engaging and educational videos.

During an On The Brink podcast in February 2020, Founder of Coinbase Earn, Balaji Srinivasan reported that the Earn program contributed to hundreds of millions of dollars in sales. Further, Srinivasan stated that a large majority of Coinbase Earn users purchase more cryptoassets after viewing the educational videos.

Why it matters:

• With the crypto bull market picking up, exchanges are on a race for customers again. To date, the Coinbase Earn program has arguably been one of the most effective customer acquisition tools in crypto. Binance – who recently acquired CoinMarketCap – is looking to copy this widely successful marketing strategy. More exchanges will likely partner with tokens to offer similar marketing partnerships in the near future.
• New projects will once again seek to maximize their marketing funnel and user base through token distributions, airdrops, and other incentives. Education rewards are better than airdrops because they require a user to perform a small amount of work.