Can the Hooked Protocol (HOOK) make money from Gamified Learning?

They built the Hooked Protocol (HOOK) to make money from gamefied learning.

The Hooked Protocol (HOOK) is a gamefied learning solution built to promote Immersive Learning and Inquisitive Learning. To elaborate, Hook builds quiz-to-earn products such as Wild Cash and Mine Town.

In essence, these products pay people to learn about Web3, DeFi, and cryptocurrency. For example, Mine Town rewards people who mine liquidity with the Gold Token. Similarly, Wild Cash is an all-in-one Learn-to-Earn decentralized app (DApp).

Wild Cash creates gamified learning experiences. They claim Wild Cash has attracted over two million members to the Hook Ecosystem.

Hooked’s Web3 Onboarding Combo includes a one and only digital identity based on Soulbound Tokens. It also contains a user’s first ever crypto wallet. Engagements include all protocol interactions on the chain.

The Hooked Ecosystem

There is also a Hooked Ecosystem that contains a self-evolving social network, a DApp Infrastructure that also serves as an onboarding infrastructure and a graph integrated interface, and a marketplace. They claim the Marketplace enables bilateral economic engagements.

There are three tokens on the Hooked Ecosystem. The Hook Protocol (HOOK) is Hook’s governance token. HGT is an in-system incentive built to generate liquidity. The Hooked Soulbound Token (Hooked SBT) that serves as a digital identity.

The Hooked Protocol itself functions as an on-ramp layer. An on-ramp layer converts one kind of currency, such as fiat currency, into cryptocurrency. Hence, the Hooked Protocol serves as an on-ramp for new crypto users.

What is Gamified Learning?

Gamified learning uses games to teach people about the blockchain and cryptocurrency.

For example, Quiz-To-Earn games use simple quizes to teach people how to use decentralized finance (DeFi). Quiz-to-Earn games such as Wild Cash are DeFi DApps they disguise as games.

Proof-of-Work and Time (POWT) and mining games reward users who contribute to a platform through liquidity mining. They base such games on a Proof-of-Work mechanism.

Social Referral rewards users who share the system through social media. Stake and Swap games encourage users to set up crypto wallets and store assets. Stake and Swap games teach users basic crypto skills, such as staking, swapping, and transferring cryptocurrency through the Hooked Wallet.

Hooked Infrastructure

On-Chain protocol interactions accumulate data by engaging in protocol interactions on the BNB Chain or Binance Smart Chain. This allows for behavioral analysis and insights. It also lays the foundation for community and ecosystem formation.

They plan to build decentralized KOC nodes. A Decentralized User Growth Engine will drive Hook’s growth. Hook claimed claim to have over 250,000 KOC nodes in November 2022.

To expand its business, the Hooked Team is developing middleware including a log-in solution, built-in wallet infrastructure, and a social graph integrated interface. To explain, Middleware is software that provides and services and capabilities for applications. Hence, middleware is software that increases the capabilities of other software. Hooked’s Middleware will increase the capabilities of blockchains.

What Value Does Hooked Offer?

Mr. Market thinks the Hooked Protocol (HOOK) offers some value. For example, HOOK was CoinMarketCap’s seventh most trending cryptocurrency on 13 December 2022.

CoinMarketCap gave Hooked a $1.91 Coin Price, a $95.549 million Market Capitalization, a $957.364 million Fully Diluted Market Cap, a $63.063  million 24-Hour Market Volume, and a $62.273 million Centralized Exchange (CEX) Volume on 15 December 2022. They base those numbers on a 50 million HOOK Circulating Supply and a 500 million HOOK Total Supply. HOOK was CoinMarketCap’s 235th ranked cryptocurrency on 15 December 2022.

In contrast, Hooked (HOOK) was not ranked by CoinGecko on 15 December 2022. CoinGecko gave Hooked a $1.90 Coin Price, a $59.164 million 24-Hour Market Volume, and a $958.873 million Fully Diluted Valuation on 15 December 2022. They base those numbers on a 500 million Maximum and Circulating Supply.

I think the Hooked Protocol is an interesting DeFi product with a fascinating growth strategy. Only time will tell if gamified learning can drive mass adoption of cryptocurrency and defi. However, I don’t think Hooked is generating enough value to take the risk of speculating on it. Instead, Hooked is a protocol to watch.