Welcome To The Arena

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29 Aug 2024

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Avalanche’s SocialFi Play
Arena is a SocialFi platform built on the Avalanche blockchain with a direct link to X, regarding the on-boarding process. Formerly known as Stars Arena, Arena was reborn under the hand and guidance of Jason Desimone. Since the rebranding and takeover, numerous enhancements and upgrades have been integrated. These improvements have been well received by the Arena community, as growth and engagement are on the rise.
I joined Arena and was blown away by the level of engagement. It’s next level compared with legacy and other decentralized WEB3 SocialFi platforms. The community is in “Hustler Mode” anticipating the Arena airdrop. Every airdrop point earned will receive 69 Arena tokens via the upcoming airdrop. Arena is a multifaceted model, which is something I always look out for.
Platforms like DeSo are great. However, they rely solely upon a single dynamic, a tipping mechanism. Arena users can tip one another and purchase each other’s tickets. Creators work to establish and grow their influence, ultimately increasing the value of their ticket. Every time your ticket is bought or sold you earn a commission in AVAX, which is approximately 7% of the ticket price.

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This can become incredibly viable for Arena users, otherwise known as Gladiators. Currently, the highest valuation of an Arena ticket belongs to a user who goes by the handle of Goldfish. One Goldfish ticket is valued at 32.72 AVAX! This is incredible and valued at approximately $801 at the current AVAX price of $24.50. Remember, Avalanche’s all-time high is almost $150.
The Incentivized economy
I began writing about the incentivized economy years ago. Participation is the new capital of the WEB3 world. Participation and influence are the currencies of the future. They find expression through data and are rewarded by tokenized economies. Arena is a SocialFi platform that operates on these principles. The Arena incentivizes users in the following ways:

Engage to earn airdrop points
Increase the value of your ticket
Earn commissions when your ticket is traded
Build a ticket portfolio that appreciates
Earn AVAX & AVAX-based tips

Building a ticket portfolio can be incredibly viable. Within two days, some of my tickets are up 200% and higher. It’s important to remember that every new user begins at a base valuation of 0.0066 AVAX, including Goldfish, whose ticket is now valued above 30 AVAX. The potential is enormous, provided you acquire the “right” tickets. Tickets can go from pennies to hundreds and even thousands of dollars.
In certain aspects, it’s like a micro-cap market for creators. The risks are real, as you have no guarantee a new user will be consistent and active in the Arena. One can also accumulate already established tickets in anticipation of further upside. This is a lot less risky. Monitoring a user’s activity and frequency regarding posting and engagement helps to gain a better perspective, regarding risk management.
As in the micro-cap market, tickets can plummet 40% in a single trading session, so analyze potential investments and DYOR. I am still a small fish in the Arena, as I have only just joined. However, my ticket has been as high as 0.13 AVAX within the first 36 hours of joining. That’s over $3 and shows what can be achieved over the long term. Everyone’s initial target is likely to reach 1 AVAX.

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Final Thoughts
The Arena appears to be a great SocialFi adventure. I only wish I had come across it earlier. Please don’t consider this investment advice, conduct your own research and proceed accordingly. It’s great to see a platform on Avalanche doing well, especially as Solana lags in this area. SocialFi is in its infancy. SocialFi is a dark horse about to bolt out of the stable. See you next time!

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Disclaimer
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto.