Why is Hooked Protocol the latest launchpad of Binance?

Original source: A&T Capital

BlockBeatsNote: On November 23, Binance will launch the 29th Launchpad project, Hooked Protocol (HOOK), and open a special BNB sale. This sale will be based on the investment model. Binance will determine the user’s available investment amount based on the user’s 7-day average BNB holdings. What kind of project is Hooked Protocol? Why is it the 29th Binance Launchpad project? This article is written by A&T Capital, as one of the investors of Hooked Protocol, maybe they can give the answer.

01 Financing Information

Web3 social network Hooked Protocol has completed its seed round of financing. Investors include Binance Labs, Sequoia Seed Fund and A&T Capital. The financing amount is undisclosed.

It is reported that Hooked Protocol aims to build a community-driven social network with Token economics design, users can get a gamified experience, and the team is currently integrating wallets and DID. The Hooked Protocol will first be launched on the BNB Chain and will expand to other Layer 1 blockchains in the future.

02 Why invest in Hooked Protocol?

1  Investment logic

1.  The application layer or the main theme of the next cycle, customer acquisition will be an extremely important part

Application layer trend: Looking back on the past year and a half, although it failed to gain a firm foothold for a long time, However, application products such as Axie and Stepn have a strong out-of-market effect in a short period of time; if you look at the next crypto cycle, combined with the infrastructure has attracted a large amount of funds & is getting more and more perfect, the next cycle is expected to see Until more applications are adopted by the mainstream population.

Customer acquisition is the key: in this new type of blockchain The market built on the bottom layer is full of new application products. How to acquire customers is bound to be a problem that every application must consider & solve.

2. The Hooked team has excellent capabilities, but the Binance ecology is lacking in customer acquisition, and the cooperation between the two parties has a high probability of success

Hooked team: the core team has rich 2C marketing experience , and the strong product capabilities of its core team, these will enhance the quality of Hooked;

Binance ecological absence: In the current Binance ecology, neither the Binance Exchange nor the BSC chain ecology has established Learn & Earn products, and such products are bound to be It will be urgently needed by Binance, and it is likely to be a win-win situation for Binance and Hooked.

2  Industry Status

1. There are more and more attempts at the application layer & product power is getting higher and higher

Compared to the cycle in 2017 , the proportion of application projects in this cycle starting in 2020 has increased significantly, and there are a large number of out-of-circle cases, e.g. NBA Top Shot, Axie, Stepn, Yuga Labs.

Compared with CryptoKitties, Axie and Stepn have obvious innovations in the model, and the completeness and usability of the product have been greatly improved.

3  Business Brief

1. Development stage:

Stage 1: Single product platform: Hooked The goal of the first stage is to first establish a crowdsourcing application with a built-in incentive mechanism, and guide Users outside the circle have successfully entered Web3 to attract traffic for Web3 applications;

Learn & Earn task case: staking & claiming, NFT The key concepts of cryptocurrency such as minting are integrated into casual games. On the one hand, users complete the game content, on the other hand, they answer questions and participate in earning rewards every day;

Phase 2: X-to-Earn Aggregator: With more and more users participating and receiving education on the Hooked platform, other types of x-to-earn are also willing to cooperate with Hooked cooperates to further expand Hooked's user base, and the final platform will have the ability to guide these users to other web3 projects, including trading platforms, Gamefi, NFT, DAO, etc.

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4  Comparable companies and valuation

A&T Capital is a venture capital fund for emerging disruptive technologies. The fund focuses on supporting early to growth stage startups. Backed by 5 fintech Decacorn ($10B+ valuations), early supporters of distributed ledger technology, and a team of experienced product leaders, A&T Capital is driving the next generation of startups in the decentralized digital age It has unique advantages in large-scale landing.   

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