This ‘quiz-to-earn’ crypto app is taking Indonesia by storm

More: Tencent throws hat into AI ring and Cred’s BNPL ambitions. [Read from your browser]( Daily Newsletter --------------------------------------------------------------- Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. --------------------------------------------------------------- Hello {NAME} For many in the crypto space, their first interaction with the “X-to-earn” model would likely have been through play-to-earn apps. The popularity and success of these blockchain games, such has Axie Infinity, has given credence to the concept and sparked an explosion in these offerings. Hence, the birth of move to earn, create to earn, wear to earn, stake to earn, watch to earn, and so on. The theme here is quite clear: Essentially, these models try to engage users by enabling them to monetize a wide range of simple but common tasks. However, given that blockchain-based virtual economies and resource ownership are key linchpins of the Web3 era, the greatest draw of the X-to-earn paradigm is perhaps the ease with which it is expected to penetrate virtual worlds. Here’s where the broader ambitions of X-to-earn firms begin to unveil themselves. Take Hooked Protocol, the company behind Wild Cash, a hit “quiz-to-earn” crypto app. The secretive firm suggests that Wild Cash, which has over 3 million monthly active users in Indonesia, is just the initial expression of its bigger plans, as detailed in today’s featured piece. The premium story also digs deeper into Hooked Protocol’s wider aspirations and uncovers how it intends to leverage Wild Cash to provide Web2 users an intuitive way to set up their virtual Web3 identity. -- Shravanth P.S.: If you’re an entrepreneur looking for funding, [fill out this form]( to get your company featured on our list of fundraising startups.  ---------------------------------------------------------------  THE BIG STORY [‘Quiz-to-earn’ crypto app hooks 5 million users in Indonesia]( With backing from Sequoia Seed Fund and Binance Labs, Wild Cash is off to a strong start. --------------------------------------------------------------- TRENDING NEWS [Indonesian AR firm launches social hub metaverse]( Assemblr Metaverse provides avatar customization, virtual spaces, and other social features. [Zenius confirms slashing another 30 jobs]( The Indonesian edtech firm laid off hundreds of staff in at least two rounds last year. [Tencent forms team for own ChatGPT competitor]( Expected to be called HunyuanAide, the product will use Tencent’s own AI model, Reuters noted. [SG blockchain investor closes $75m fund]( Blockchain Founders Fund has already backed over 100 startups, including Altered State Machine, Splinterlands, GRID, Krayon, and Magna. [GIC-backed Cred rolls out BNPL feature]( The Indian fintech unicorn said the move aims to simplify the payment process for users and attract more merchant partners. [EU ecommerce firm Joom officially enters India]( The company has onboarded more than 350 merchants from eight Indian cities. ---------------------------------------------------------------  TECH IN ASIA'S PRODUCT DEVELOPMENT CONFERENCE 2023 Learn how to build great products from these PDC speakers There’s a popular, slightly jokey acronym: No action, talk only (NATO). 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Find out more about how AWS’ cloud solutions can help you unlock new opportunities for digital transformation and innovation at the inaugural Indonesia Industry Solutions Day. The event, which will be held at JW Marriott Hotel in Jakarta, will cover topics such as security, data analytics, and scalability across four key industries: financial services, healthcare, media, and manufacturing. Sign up today! ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [iOS Software Engineer II]( at Laku6 (Rebonics) Indonesia Bulk Terminal, Indonesia - [Tech Journalist]( at Tech in Asia Bangalore, India - [Engineering Manager]( at PT Samala Serasi Unggul Jakarta, Indonesia - [HR & HSE Manager]( at Female Daily Network Jakarta, Indonesia - [Product Manager]( at Pintar Ventura Group Jakarta, Indonesia - [Product Manager]( at PT. YUKK Kreasi Indonesia Tangerang, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. 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