Original author: KarenZ, Foresight News
When attention becomes a scarce resource, a Base chain attention machine with QR code as the core is gaining community attention. QRcoin, a project that promotes links for auction winners through daily auctions, is being viewed by the community as an advertising space rental product for small and beautiful projects, as well as an Alpha discovery engine.
At the same time, QRcoin token QR has risen more than 13 times since May, and its current market value has reached 4.3 million US dollars. Base officials have also stated that QRcoin is a fusion of "games, performance art and on-chain attention machines."
What is QRcoin?
QRcoin is essentially a daily attention auction platform based on Base, and has also launched a Mini App on Farcaster. The operating logic of QRcoin is relatively simple:
Every day, an auction will be held on the platform website (bidding with USDC), and the auction "target" is the QR code pointing right of the day (the QR code will never change), that is, the winner of the auction can decide the QR code pointing website of the platform that day - whether it is a personal social media account, Twitter post, blog, or project official website, token page, charity website, all can be exposed through this "traffic entrance". If the auction is surpassed, the funds will be returned immediately, without worrying about losses.
QRcoin will announce the daily auction winners on social media such as X and Farcaster, and directly direct traffic to the target website. Considering that the QR code will never change, as it continues to spread in online and offline communities, the link to the auction winner is expected to gain exponentially growing traffic. This means that every successful auction is "adding bricks and tiles" to the spread of the QR code, allowing future exposure to continue to accumulate as the spread range expands.
QRcoin.fun has also launched a "Discover-to-Earn" mechanism. Users only need to visit the qrcoin.fun website, check the auction winning projects of the day, and then return to the page to claim a small amount of QR tokens. This mechanism encourages users to explore new on-chain projects every day while getting rewards through participation. Users can also win additional QR rewards by sharing the claim screenshots and Ethereum addresses on the X platform.
The developer of QRcoin is @0 FJAKE, who is quite active on Twitter and has also released the Base Colors NFT series (a 1/1 series of 16777216 colors in the RGB color system).
Data Perspective: QRcoin's latest winning bid price has reached $3,500
So far, QRcoin has held 96 auctions, with the latest winning bid reaching $3,500, a record high, and the total winning bid amount approaching $44,000. As can be clearly seen from the figure below, the auction heat has increased significantly recently.
Source: QRcoin
Past winners include Noice (a program that rewards likes) which has won 5 times, Clip.fun (similar to Reddit, but rewards can be obtained by posting and commenting) which has won 3 times, and even the official website of ZORA, which has a Twitter homepage and post promotion, Farcaster post, and token page promotion.
QR Token
QRcoin developer Jake issued QR tokens on Farcaster through Clanker on February 6. QRcoin officials once stated that QR has no team allocation, no internal personnel, and no VC.
In the 22 days after the release of the QR token, the token market value remained below $40,000 for most of the time, rose to an all-time high (about $6 million) yesterday (June 10), and has now fallen back to around $4.5 million.
Regarding the token effect, QRcoin will use part of the daily auction revenue to purchase QR, and closely link the value of QR with the demand for advertising space through the auction mechanism, forming a positive cycle between tokens and ecology. However, it is not clear how many tokens QRcoin purchases daily. In addition, the Discover-to-Earn mechanism mentioned above can increase the platform traffic to a certain extent and encourage users to explore the links of the winning bidders.
summary
Compared with traditional advertising platforms, QRcoin.fun's on-chain auction model is completely decentralized, open and transparent. Bidders can directly direct traffic to their own projects or promotional content. In addition, users can obtain tokens through simple interactions without investment. This low-cost participation method may attract a large number of new users to join the ecosystem.
QRcoin's unchanging QR code is like a "traffic anchor point", which may show compound growth over time. However, if the auction winner cannot get enough traffic returns (such as low conversion rate), the long-term auction enthusiasm may decline. How to balance short-term traffic exposure and long-term value precipitation, and become a real value link connecting users and high-quality projects, will be the key to QRcoin's continued evolution.
