Sidekick first tries to lower the user entry barrier through Web3 companionship, a social education method, and this 1v1 efficient and in-depth communication method also has enough room for extension.

The launch of the Bitcoin spot ETF undoubtedly marks the start of a new bull market: not only attracting more funds into the digital asset market, but also representing broader support and recognition for Bitcoin in the traditional financial sector. As we enter 2024, funds within the Crypto space become more active. However, an undeniable issue is that although off-chain funds are eager to participate, the current entry barrier into Crypto is still too high: whether it's private key backup, wallet recovery, gas mechanism, or the natural barriers between different blockchains, coupled with the constantly emerging industry innovation hotspots… without friends or acquaintances to provide hands-on guidance, the complex information and high cognitive and operational requirements are undoubtedly the biggest "roadblock" preventing users from seamlessly participating in Web3. Therefore, regardless of market fluctuations, lowering the barrier has always been the prerequisite for entrepreneurs to truly achieve large-scale adoption of Web3.

Based on this industry demand, SideQuest, a team selected as a Binance MVB, has launched its flagship project Sidekick and is practicing the concept of companionship in Web3: establishing a mutual aid mechanism between experts well-versed in crypto play and newbies, helping newbies complete exploration tasks in the crypto industry, and promoting the continuous stable development and expansion of the ecosystem with effective incentive measures, aiming to truly solve the high entry barrier dilemma in Crypto and become the preferred platform for crypto users to seamlessly enter Web3.

In the future, based on the concept of Web3 companionship, Sidekick will also aggregate gaming companionship, trading analysis, blockchain gaming gold farming, airdrop interactions, Web3 social, and other encrypted scenarios, becoming the next preferred educational platform for crypto users after X (Twitter), Youtube, and even Google.

This article aims to explore the prospects, implementation logic, and core competitiveness of Sidekick's Web3 companionship mechanism, providing a glimpse into the project's development opportunities and challenges.

Web3 Companionship: Covering multiple tracks such as social, education, and gaming, a truly trillion-dollar potential blue ocean market.

The concept of "companionship" originated in the gaming industry: data shows that in 2023, the global number of gamers reached 3.38 billion, and the total revenue of the gaming market reached 184 billion, with a continuous annual growth rate of 6.3%.

The growth of the gaming industry has also led to the prosperity of the companionship market: by providing companionship to gamers, helping them complete in-game tasks, companions can receive certain rewards or incentives. After several years of development, companionship has become the fourth major track in the esports industry, in addition to gaming, live streaming, and events. Taking the domestic leading companionship platform, Bixin, as an example, its annual revenue reaches as high as 750 million USD, and the annual revenue of the global companionship market is as high as 3 billion USD. With the continuous expansion of the gaming market, the development potential of the companionship market in the foreseeable future will continue to rise.

It is worth mentioning that although the current domestic and international companionship markets have several high market share leaders in their respective regions, such as the domestic Bixin APP, Companion Companions, and Lita in Southeast Asia, although the companionship market has shown a situation of fierce competition in local regions, cross-regional and international companionship is still a blue ocean market. The huge difference in economic development levels between different regions has formed an extremely attractive arbitrage space, and achieving precise matching of companionship demand between high-income and low-income areas is the market entry path with the least resistance for the Web3 companionship track.

With such a strong growth momentum, in addition to gaming, the crypto industry cannot be ignored.

According to a report by Cointelegraph, analysts at the crypto exchange Bitfinex emphasized that as of December 1, 2023, the global number of cryptocurrency holders has reached 575 million, exceeding the 432 million at the beginning of 2023, with an annual growth of over 100 million holders, and the total market value of cryptocurrencies has reached 29 trillion USD, and this number is still growing.

Behind the data growth, in addition to the Bitcoin spot ETF, it is the recovery and prosperity of the entire crypto industry: from underlying infrastructure, DeFi, AI, DePIN to GameFi, NFT, social, the crypto market is showing infinite vitality, and the market urgently needs a companionship service port that solves the quick entry of new users and socializes old users, providing the most basic entry support for the annual increase of 100 million users and the 29 trillion market.

Sidekick, with a keen market sense, accurately focuses on the two potential markets of gaming and crypto, which are growing rapidly and have mismatched competition: by providing companionship services to the gaming market and the crypto market, it lowers the entry barrier for new users and extends services to education, gaming, social growth, and other fields through the companionship mechanism, clearing obstacles for the large-scale adoption of Web3.

Sidekick: Based on the Web3 companionship mechanism, it builds a one-stop service platform for crypto novices.

Sidekick aims to be the key to truly solving the complex entry barriers of cryptocurrencies in Web3.

In the initial stage of the project, based on the rich resources and construction experience accumulated by the SideQuest team in the Web2 track over the years, Sidekick is based on the Trovo.live live platform with 15 million users, aiming to build a bridge between Web2 players and Web3 players using the Web3 companionship mechanism, continuously injecting fresh blood into Web3. In the specific implementation process, the team quickly realized the real pain points of the crypto market:

The crypto industry is known for its complex information and track structures, with vastly different concepts between different tracks, which is a significant challenge even for developers who have accumulated relevant industry knowledge, let alone for newbies.

Imagine:

• When a Web2 novice user wants to buy cryptocurrencies but has no friends in the circle to ask for help, what should they do?
• When a gaming enthusiast wants to join Web3 games but has no friends in the circle to ask for help, what should they do?
• When an ordinary person wants to learn about airdrop interactions and desires to change their life through crypto but has no friends in the circle to ask for help, what should they do?

To help users overcome the barriers to entering the Web3 world, Sidekick introduces the traditional gaming companionship mechanism into the Web3 world, aiming to provide companionship education services for the gaming market and the crypto market from basic to advanced, from beginner to advanced. This 1v1 efficient and in-depth communication method not only adapts to the learning and social needs of the crypto industry in all aspects but has also been proven to be one of the most efficient ways to improve in the traditional Web2 gaming field.

In terms of specific implementation, Sidekick is building a solution on the shoulders of giants, that is, by implementing the functions of order taking and payment through Discord and embedded plugins on the website, which means:

• If you are a crypto expert, you can register as a Kicker to provide companionship services to more crypto novices.
• If you are a crypto novice, you can pay for companionship services provided by crypto experts to receive hands-on Web3 education.

Currently, Sidekick has already integrated with the leading crypto community Discord and the live platform Trovo.live, and the team is actively promoting cooperation with another leading crypto community Telegram, aiming to cover a broader user base.

In terms of considering the positive cycle of ecological economy, Sidekick focuses on the regional economic development differences in the global market and aims at the cross-regional companionship arbitrage track: creating additional "knowledge monetization" employment opportunities for low-income area crypto users, while providing high-quality crypto KOL opportunities for high-consumption level area crypto users, from basic operations, on-chain interactions to trading strategies, to obtain higher quality services.

For example, in general, the economic development in South America is not as strong as in North America, and Sidekick actively promotes users in South America (such as Mexico) to provide companionship services for users in North America (such as Canada). In this way, South American users will relatively receive higher-than-expected companionship earnings, stimulating the enthusiasm for companionship and increasing the retention rate. This cross-regional arbitrage in companionship can also help Sidekick achieve high revenue and give Sidekick more powerful external pricing power, thereby rapidly increasing the project's market share in the region and gaining real traffic distribution rights.

It is worth mentioning that companionship, as an intuitive and customized service, truly lowers the entry barrier for Web3: Sidekick plans to attract over 100,000+ users in 2024 and also welcomes many crypto OGs who want to help their former lost selves to join and earn extra income while introducing fresh blood into the industry. As more and more users become Kickers to provide companionship services, the high entry barrier dilemma for crypto novices will be greatly alleviated, and the influx of more incremental users will be the key to truly achieving large-scale adoption of Web3.

In addition to lowering the barrier, the Sidekick companionship mechanism will also spark more innovative application scenarios: for example, in gaming, players can filter and match with other players based on their level, skills, and more on the Web3 platform, to achieve skill upgrades together and meet the social needs of like-minded players. Further exploration of this social relationship will give rise to social growth, project recommendations, trading strategies, and other derivative scenarios.

As a top-level entrepreneurial team, SideQuest has a long-standing connection with the companionship market:

The founder of SideQuest is a senior gamer and industry practitioner, who has served as the head of overseas business expansion for the Wangyu Internet Cafe Group and has had deep business exchanges with the leading domestic esports community, Bixin. The core members of the SideQuest team also include senior OGs and investors in the Web3 industry, assisting SideQuest in refining its Web3 business and economic model design, aiming to achieve a true integration between Web2 and Web3 products.

The diverse team composition and rich industry experience enable the SideQuest team to have more accurate market insights and product designs that better meet user needs, and have won the favor of industry partners and leading institutions for the project team.

On one hand, Sidekick has a close cooperation with the live platform Trovo.live: Trovo is a mobile-focused live platform created by Tencent, with over 15 million users. The cooperation with Trovo brings strong user traffic and industry resource support to Sidekick. Previously, Sidekick has established partnerships with over 40 games, such as "League of Legends," "Fortnite," and "Counter-Strike: Global Offensive." Each year, Sidekick also hosts over 150 matches and events, with generous prize pools and fun activities like giveaways, providing players with an engaging gaming experience.

In the just-concluded 7th season of the Binance Labs MVB Accelerator Program, Side Quest was selected as an application layer project as "a gaming and social platform with a strong community," and was the only Web3 social project selected in this round of evaluation. This reflects the recognition of the project team by institutions for Sidekick and SideQuest. In the future, Sidekick will have the opportunity to receive a series of support and incubation from Binance's ecosystem technology, funds, resources, etc., injecting strong momentum into the project's future development.

Currently, with the support of Binance Labs, the Sidekick Athens Academy event is ongoing, where users can earn rewards by completing courses through the "Learn to Earn" method. The course content is divided into two parts: the CZ Master Course (requires a $4 tuition fee and a small amount of gas, which can be fully refunded after the event), and participation in other paid services such as Match to Play (the paid amount will be counted towards points to earn more rewards). Interested users can participate and have the opportunity to learn about the Web3 industry knowledge and insights directly from industry leaders, while earning generous rewards.

As the Sidekick whitepaper states: "Users are key, and we have users."

From the perspective of user service, Sidekick first tries to lower the entry barrier for users through Web3 companionship, a social education method, and this 1v1 efficient and in-depth communication method also has enough room for extension. In the future, users exploring any Web3 track in any way will be able to obtain one-stop companionship services through Sidekick. With a rich industry resource, Sidekick advocates for the tokenization of knowledge services, not only providing incentives for companionship service providers but also injecting inexhaustible power into the sustainable and positive development of the ecosystem through targeting cross-regional companionship arbitrage.

With the landing of various milestones in 2024, Sidekick has the potential to grow into a super app comparable to Web3 infrastructure. On one hand, by lowering the barrier, it introduces incremental users to Web3, and on the other hand, it provides one-stop companionship services for users to explore and experience Web3, promoting the true large-scale adoption of Web3.

Sidekick Website

https://sidekick.fans/

Sidekick Twitter

https://twitter.com/Sidekick_Labs

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