Socrates Leads Debate2Earn Revolution with New Pioneer Pen

[PRESS RELEASE – London, United Kingdom, January 11th, 2024]

Socrates, the first SocialFi Debate-to-Earn platform, announces a transformative upgrade with the launch of the Pioneer Pen on January 11th, 2024. This significant development shifts existing ERC-1155 SBT Pens to the ERC-721 Pioneer Pens, bringing the uniqueness and tradability of NFTs to the forefront, which are now tradable on the in-app trading marketplace. This initiative is part of Socrates’ strategy to create a comprehensive 360° instant rewards ecosystem, encouraging active user engagement through various platform interactions and participation in the ongoing SOC airdrop competition.

Socrates, the world’s first SocialFi Debate-to-Earn platform, announces a significant upgrade to its ecosystem with the launch of the Pioneer Pen, marking a new chapter in online intellectual engagement and blockchain integration.

On 11th January, Socrates is set to transform its community engagement model by upgrading all existing SBT Pens to the innovative Pioneer Pen, an NFT based on the ERC-721 standard. This move signifies a shift from the current ERC-1155 standard, embracing the uniqueness and tradability that NFTs offer. Each Pioneer Pen is designed to be as unique as its owner, encouraging users to forge new thoughts and express individual insights. From the 12th January, these Pens can now be bought and traded on the Socrates in-app trading market.

“This upgrade to Pioneer Pens marks a pivotal moment in our journey towards creating an interactive and rewarding ecosystem,” expressed Lottie Wells, Global PR & Communications at Socrates DAO, with genuine enthusiasm. “Our shift to the Pioneer Pen is all about enhancing the user experience, where users can engage in activities to enhance their Pioneer Pens with different attributes. The Pioneer Pens will be a tool for empowerment; each Pen is a reflection of its owner’s identity and intellect on our platform, offering a new level of personalisation and engagement in the SocialFi space.”

What is a Pioneer Pen?

Pioneer Pens are more than just keys to the game; they are carefully crafted tools that open up a world of possibilities, enhancing the gaming experience with richer and more varied ways to engage.The same as the original SBT Pens, Pioneer Pens are categorised into three levels – Introductory, Intermediate, and Advanced. Each level carries distinct voting coefficients (the number of votes per cast) and reward coefficients (the distribution ratio of bonuses), and higher-level pens offer greater benefits. However, unlike their ERC-1155 standard-based and non-tradable SBT Pen, Pioneer Pens are tradable, and each Pen boasts unique attributes. Users can enhance these attributes through various platform interactions, augmenting the Pens’ intrinsic value.

This shift not only provides flexibility but also lays the foundation for future enhancements, promising additional functionalities and attributes integrated into Pioneer Pens. Users can craft unique Debate-to-Earn strategies by leveraging the distinctive features of their Pen or combine Pens at same/different level in various ways. Simultaneously, through various interactions on the platform, they can continually improve their pens with additional attributes, giving them even more value.

Tradable and upgradable Pioneer Pens

Pioneer Pens will all be different, determined by level, attributes, and functionalities. Users can actively influence Pen’s uniqueness and scarcity through participation in platform activities. In the future, users can also engage in different activities to shape their Pen, providing additional privileges.

There are currently two ways to obtain the Pioneer Pen:

1. Replacement: Existing users who already hold an SBT Pen on Socrates will automatically receive a Pioneer Pen airdropped to their wallet address, according to the level, and the user will not need to take any action
2. Platform purchase & trade: Users can buy and sell rare Pioneer Pens of different levels on the in-app trading feature

Beyond points and Pens

This announcement is part of a series of initiatives by Socrates to establish a 360° instant rewards ecosystem. Users have the opportunity to earn rewards through various interactions on the platform, such as voting, commenting, liking, posing multiple-choice questions, and showing support. On the 13th January, Socrates is excited to introduce the Pop Quiz feature, where users can engage with others’ questions that are live for a brief 30-minute window. The correct answer (decided by the question creator) is revealed instantly; if correct, the participant instantly wins the prize and the question closes, but if incorrect, the question creator receives the participants’ points.

The Pioneer Pen experience transcends conventional gaming tools. Users are encouraged to explore new dimensions of gameplay, express distinctive perspectives, and strategise within the Socratic landscape.

This shift towards Pioneer Pens introduces a more diverse, 360° rewards model, complementing the existing question-and-answer reward mechanism by incorporating the intrinsic value of the Pens.

About Socrates

Socrates is a global web3 social media and entertainment platform based on blockchain, where users earn rewards by participating in multiple-choice Q&As, debating, and sharing knowledge. Combining the best of Social-Fi and Game-Fi, the organisation aims to pioneer a new era of dialogue and knowledge beyond borders, empowering and rewarding individuals to share their vision and shape the future through diverse perspectives.

With social media and mainstream media currently directing human thoughts, Socrates inspires individuals to think freely about issues and combats misinformation. The platform features an innovative and intuitive user interface, allowing anyone to openly debate and discuss any topic, ranging from politics to sports and entertainment. Users can create multiple-choice questions in-app, allowing others to interact by voting, giving reasons, and liking comments.

Integral to Socrates’ mission, they’re dedicated to providing a space for people to voice their honest opinions, presenting unique perspectives in a streamlined format. The platform has also created an incentivised ecosystem where any interaction requires contributing to the question’s prize pool, with potential rewards being distributed once the question has closed. Valuable contributions and more popular ‘trending’ questions may offer larger rewards, ensuring users initiate or contribute to the dialogues that matter.

Utilising decentralised blockchain technology, users can access the platform by linking their non-custodial wallet and using crypto. With a focus on transparency, safety, and security, the community will benefit from web3’s unparalleled privacy features and spam reduction.

Socrates is a global organisation with a unique decentralised model that places its members at the core. With many members from leading fintech, web3, and crypto companies, the company has considerable plans for expansion, and is dedicated to giving everyone the freedom to share their opinion without constraint, fostering a community-driven platform that transcends geographical boundaries.

Learn more at socrates.com.

Users can join the Socrates community online app.socrates.com, or download the app on Google Play and Testflight.

Contact

PR Executive
Marco Lucchesini
EAK Digital
marco.lucchesini@eakdigital.com