How does QRcoin, the new favourite of the Base ecosystem, use QR codes to play on-chain auctions?

Written by KarenZ, Foresight News

When attention becomes a scarce resource, a base on-chain attention machine with QR codes at its core is gaining community attention. QRcoin, a project that promotes links for auction winners through daily auctions, is being seen by the community as a product for advertising space for small, beautiful projects, and an alpha discovery engine.

Meanwhile, QRcoin's QR token has risen more than 13x since May and now has a market cap of $4.3 million. Base officials have also said that QRcoin is a fusion of "games, performance art, and on-chain attention machines".

What is QRcoin?

QRcoin, which is essentially a Base-based daily attention auction platform, has also launched a Mini App on Farcaster. The operation logic of QRcoin is relatively simple:

every day, an auction will be opened on the platform website (bidding with USDC), and the "target" of the auction is the QR code pointing right of the day (the QR code will never change), that is, the winner of the successful auction can decide that the platform's QR code points to the website on that day - whether it is a personal social media account, Twitter post, blog, or project official website, token page, or public welfare website, all can get exposure through this "traffic portal". If the bid is overtaken, the funds will be returned immediately without fear of loss.

QRcoin announces the winners of the daily auction on social media such as X and Farcaster to direct traffic to the target website. Considering that the QR code never changes, auction winners are expected to get exponential growth in traffic to the link as it continues to spread in both online and offline communities. This means that the success of each auction is "adding bricks" to the spread of QR codes, so that future exposure will continue to be superimposed with the expansion of the scope of communication.

QRcoin.fun also introduced a "Discover-to-Earn" mechanic. Users simply visit the qrcoin.fun website, check the day's auction winners, and then return to the page to claim a small number of QR tokens. This mechanism encourages users to explore new on-chain projects every day while earning rewards for participating. Users can also earn additional QR rewards by sharing claim screenshots and Ethereum addresses on Platform X.

The developer of QRcoin, @0FJAKE, is active on Twitter and has also released the Base Colors NFT collection (a 1/1 series of 16777216 colours in the RGB colour system).

Pivot: QRcoin's latest winning bid has reached $3,500

So far, QRcoin has held 96 auctions, with the latest winning bid reaching a record high of $3,500, with a total auction winning bid of nearly $44,000. As can be clearly observed from the chart below, the auction popularity has increased significantly recently.

Source

: QRcoin's

past successful bidders have 5 times winning Noice (like reward project), 3 times winning bids Clip.fun (similar to Reddit, but rewards can be earned by posting and commenting), and even the ZORA official website, there are also Twitter homepage and post promotion, Farcaster posts, and token page promotion.

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