The rise of web3’s popularity has paved the way for individuals and businesses to take advantage of its innovative benefits. Although still in its early stages, web3’s decentralization is set to be the “future of the internet” as it continues to address rampant issues – like data breaches, scams and phishing, IP theft, unsafe payment gateways, and much more – all realities today and happening in web2.
Still, a transition period undeniably exists, especially for businesses aiming to adapt web3’s perks into how they interact with their audience.
This transition phase is where SWIM comes in, the startup that harnesses the power of web2.5’s untapped potential. Web2.5 is that “safe zone” where brands can continue using the familiar processes of web2, while SWIM provides the competitive advantage of incentivizing the transition through a rewards-driven architecture powered by web3.
“We want to empower users with more control and reward them in proportion to the value they contribute,” shares Founder and Co-Founder Andy Crosby and Blake Kuhre.
Brands are embracing web 2.5
According to SWIM’s Co-founder and COO Blake Kuhre, centralized legacy platforms continue to look for new ways to monetize content, which often become unsustainable when content fatigue kicks in. Kuhre reiterates that audiences need more than just content and entertainment – they want new experiences and unique benefits rather than just racking up points and predictable rewards.
Through web3’s technological enhancements like smart contracts and other benefits of decentralization, influential brands and savvy creators are looking to experience a significant transition to offer something new and different. In return, their audience grows bigger and becomes more loyal because of the unparalleled perks, such as earning crypto while enjoying the content they’ve already come to love, gaining exclusive access, and potentially “having a say” in what kind of content they would like to experience next.
The transition may be exciting, but with every new form of technology comes the inevitable sense of skepticism. Many accustomed to centralized legacy platforms may be intimidated simply due to the widespread lack of web3 awareness. SWIM reimagines how a brands’ audience interacts with them via web3 without the need to abandon their familiarity with web2.
Significant brand partnerships
SWIM recently demonstrated the power of web2.5 through their recent learn-and-earn partnership with Underknown; the fast-growing, Toronto-based studio powering award-winning video science brands such as, “What If,” for their 120-million fans.
Underknown CEO Steve Hulford credits SWIM further enhancing the content experience for their 120-million fans:. “It’s undeniable that SWIM’s leading blockchain technology has proven itself in the industry. The innovative solutions of bridging the gap between web2 and web3 allowed us to offer our fans a fun and engaging way to learn about science and the humanities through our portfolio of brands,” he shares.
SWIM’s business model includes tokenized reward ecosystems. Through their patent-pending technology, brands and content creators utilize the same process to develop new forms of value within their community–all without the need for major pivoting on the brand or creator side.
While this only marks the beginning for SWIM, it is gaining momentum in the industry: Matterblock and Bridge Tower Capital are counted as investors for their seed round’s first close whilst Galaxy Digital remains SWIM’s Strategic Advisor. The highly anticipated unveiling of SWIM’s web3 creator dashboard debuts at Istanbul Blockchain Week in Turkey this November.