How to reach 1 million users fast
With NeuCoin, consumers can earn NeuCoins by investing their time and attention. It’s analogous to proof-of-work miners earning Bitcoin by investing computing power - only regular consumers can participate and earn rewards for doing something they enjoy. That’s NeuCoin’s path to millions of users!
NeuCoin’s radical idea - distribution as a tool for mass adoption
NeuCoin’s vision is distribution to ALL who create value and utility - to massive numbers of end users, to service providers like exchanges and payment processors, and to content creators who accept NeuCoin as a means of micropayment, like game developers, musicians, photographers, writers, etc - along with the miners who secure the virtual currency.
This distribution approach offers a tremendous competitive advantage over virtual currencies like Bitcoin that are distributed only to miners, which are unable to encourage consumer adoption by giving users small numbers of tokens to easily try out.
How NOT to distribute a virtual currency - for free, in exchange for nothing
Simply handing out free tokens, aka “airdrops,” whether to all the citizens in a country or the whole world, or to all Facebook or Twitter accounts, or to all holders of other cryptocurrencies - doesn’t work. It just leads to the new recipients selling, exchanging or forgetting their new tokens, which are nothing more than funny money. Also, this kind of distribution leads to fraud and abuse from users creating multiple accounts to obtain more tokens in order to dump them.
The right way to distribute a virtual currency - users have to EARN it
Bitcoin miners earn tokens for securing the Bitcoin network by investing computing power and electricity, ie proof-of-work mining. With NeuCoin, the majority of the token supply will also be earned by miners who secure the NeuCoin network through proof-of-stake mining (see NeuCoin’s white paper for an explanation of how this differs from Bitcoin’s method).
However, in the case of NeuCoin, a pre-mined supply of NeuCoins are also given to consumers through “freemium” marketing programs, so that they can try NeuCoins out without any cost or hurdles. But crucially, the NeuCoins are never simply handed out for free - consumers have to earn them by investing time and attention.
The best way to distribute a virtual currency - rewarding users for USING the tokens
Investing time and attention doesn’t mean a few quick clicks to collect a freebie. Rather, users may spend hours trying to win a game to get 5 cents worth of NeuCoins to spend on power-ups. Or log in weekly to Jango.com in order to refill his balance of free NeuCoins to tip musicians with. It’s similar to mining Bitcoin in the early days, except the consumers are spending their time on something that they consider fun - and they’re earning tokens that they have an immediate use for.
This type of EARNING by USING won’t only prevent fraud, it also rewards people for doing something that they already like doing and gives them an even better experience with no change in behavior. You wouldn’t play the NeuCoin-integrated game just to earn the coins because the payouts are too small to be worth your time. But if you like the game anyway, you might play the NeuCoin version of Solitaire or Name-that-Tune instead of another one so you can earn some extra NeuCoins. Plus you might challenge your friend to a game, where the winner gets a couple more coins.
This also makes it attractive for service providers to integrate NeuCoin. They can use NeuCoin distribution as an added value and retention tool to reward their users for certain behaviors - logging in more often, inviting more players, watching more videos, reading more articles, tweeting about or liking the service provider on Facebook, leaving comments, tipping content creators, etc.
Real engagement, real use, real value. Giving massive numbers of consumers their first crypto experience, earning and using “freemium” NeuCoins in a way that improves their online experience and makes them want to come back for more.