If you’re active in the cryptocurrency community then you’ve undoubtedly come across the phenomenon that is crypto Twitter. This is the segment on Twitter that congregates around all things cryptocurrency. Crypto Twitter is known for endless discussion about loved and hated tokens, sharing memes only crypto heads would understand, and making market predictions.
While this sort of community interaction is vital to the industry, it is sometimes hard for like-minded people to find each other. Sure, you can search hashtags on Twitter and hope to come across the right people but what if there was a social media platform just for crypto lovers?
While it has clearly been established that the crypto sector thrives on users’ predictions, there isn’t much of a way for people to engage in market predictions in a unified manner. It is usually a handful of crypto ‘experts’ who are making these predictions and taking to the community, not with them. Needless to say, a lot of crypto users could benefit from a proper ecosystem that rewards their predictions and lets them engage in a healthy manner.
Well, turns out there is. ROLA, the first web 3.0 social media app created to cater to the crypto community offers not only fun user engagement but the chance to earn rewards as well.
How ROLA works
ROLA stands for reiterative open learning algorithm and the entire app is based around this AI.
There are two main aspects to ROLA as a platform. First, it acts as a social space for crypto lovers and everyone who is interested. Unlike a lot of existing sites where users have to manually find their crypto community, ROLA was created with crypto lovers in mind already.
Users can share all sorts of posts with each other, from in-depth market analyses to memes. For those who want an even more intimate experience, private groups and chats can be created. Want to have a group for your favourite token? Want to discuss strategy with a group of trusted fellow traders? ROLA lets you do all this and more.
There’s also the option to create public discussion channels for verified profiles. For example, if there is a major market spike or dip of a major token, channels can be created to discuss this in real-time.
Then there is the second aspect of ROLA, which is the fact that you can earn rewards through your market predictions. If there is anything that you’ll see a lot of on crypto Twitter, it’s predictions. From Bitcoin going to the moon to the next big token, predictions abound everywhere.
But these predictions are rarely, if ever, rewarded. Even if you made the most accurate crypto market prediction of all time, you’d get likes and retweets and nothing more. But with ROLA, you are rewarded with the native $ROLA token for making predictions. These predictions can be made in real-time on the ROLA app even as market shifts occur.
Of course, some predictions are more accurate than others and a big part of making crypto-related predictions is people getting it right and being rewarded for their accuracy.
Naturally, ROLA does not skip out on this and actually rewards those who make correct predictions. This is done through ROLA’s predict2Earn feature that gives its native $ROLA token to those who make accurate predictions for Bitcoin and Ethereum and NFT rewards for predictions for other tokens.
Once earned, the $ROLA tokens can be used to buy NFTs and participate in staking games which will begin in August 2022. For those looking to learn more about cryptocurrency through ROLA, market insights are constantly being provided on the platform.
These insights are generated by ROLA’s AI which uses past and current market data, as well as votes and commentary from users. Those who are knowledgeable about crypto can make predictions and the algorithm will reward them while also tracking their accuracy level.
For those who aren’t, they can look into market insights from the AI and eventually, make their own predictions and offer insights. As more insight is provided by the users, the AI becomes more accurate, learning from the community as they learn from it.
NFTs are also not being left behind as ROLA takes off. Just recently, ROLA announced its first NFT collection titled ROLAGRAM. Each asset from this collection can be minted by users every month. Each new asset will be based on users’ previous activities from the last month such as their comments and voting history.
This means that every NFT will be as unique as the user who receives them.
ROLA and why the crypto community needs spaces
Since its inception, the crypto industry has been driven by the power of its communities and the predictions that they make about the markets. As such, it is important that members of this community be able to find each other and learn from each other’s predictions. This is what ROLA is trying to achieve.
But more than just a place where people speculate about the prices of tokens, ROLA is creating an ecosystem where both AIs and humans learn from the intellectual resources of the community. The AIs can, over time, become better at their jobs and the humans can get rewarded with digital assets.
As Rosalind Lee, Chief Product Officer of ROLA mentioned “ROLA aims to build a rewarding community that is truly “WAGMI”. We are in it together and we all improve together.”
By providing both a space for community engagement and tangible rewards for this engagement, it is making sure that the crypto community can thrive.
Note: Investment in cryptocurrency and crypto assets is subject to financial risk and readers should do their own due diligence. Entrepreneur Media does not endorse any such investment.