Coinspeaker
Forbes Partners with Galxe to Build Web3 Community
American business magazine Forbes is partnering with Galxe to build its Web3 community. Forbes announced the partnership via a new account ForbesWeb3 created for the community on X. The global media company hopes to leverage Galxe’s technology for a smooth user experience.
Already, Forbes has launched several initiatives in the Web3 space. Thus, the partnership with Galxe is the latest of such moves. In 2021, the media company sold an NFT of its latest issue on Nifty Gateway. It hosted a virtual party for its members on Sandbox in 2022 and opened a store at the 2023 Decentraland Metaverse Fashion Week. Likewise, Forbes published its Under 30 list on the blockchain this year.
Pushing the Boundaries
Forbes Chief Growth Officer Taha Ahmed noted that the collaboration with Galxe reflects the duo’s “shared vision of pushing the boundaries of traditional loyalty programs”. Galxe co-founder Charles Wayn also shared similar sentiments.
Wayn said:
“We’re excited to see how our platform can help revolutionize loyalty campaigns and set new benchmarks in the industry.”
Accordingly, from December 4, Forbes is inviting its members to join its Web3 community. To start with, participants must complete social tasks on Galxe. These tasks are designed to foster user engagement while offering a glimpse into the practical applications of blockchain.
By completing social tasks, participants will earn Web3 rewards. They will also climb up a leaderboard, which is there to foster a community outlook. Aside from Web3 rewards, users may also enjoy exclusive rewards like complimentary Forbes subscriptions and premium Forbes-branded merchandise. Eventually, the campaign will lead to an NFT mint in Spring 2024.
Fostering Community through Web3
Besides loyalty rewards, Wayn envisions brands building stronger customer relationships by leveraging Web3 technology. Like Wayn, Forbes’ Chief Technology Officer Vadim Supitskiy believes this to be true.
“We envision this space to be a place where our community will convene, make new connections, learn, discover new ideas, entertain, and have fun,” Supitskiy explained.
Consequently, Galxe has announced that the Forbes Web3 Campaign will happen over and over again. “Future activations and experiences await, so stay tuned,” it stated.
Following the announcement, the Galxe token (GAL) jumped to $1.63 and was up over 4% at the time of writing.
