The on-chain attention mechanism project QRcoin has garnered follow, with a significant rise in its Token.

In the current attention economy era, a Base on-chain attention project centered around QR codes is attracting community attention. QRcoin offers link promotion services to the winning bidders through a daily auction system, and is regarded as an advertising platform and investment opportunity discovery tool for small quality projects.

At the same time, the QRcoin Token QR has risen in price by more than 13 times since May of this year, with a current market value of approximately 4.3 million USD. The Base official once commented that QRcoin is a fusion of gaming, performance art, and on-chain attention mechanisms.

QRcoin Project Introduction

QRcoin is essentially a daily attention auction platform based on Base, and has launched a mini-program on Farcaster. Its operation method is relatively simple:

The platform holds a USDC auction every day, auctioning off the "product" which is the website link pointed to by the QR code for that day (the QR code itself never changes). The winner of the auction can decide the website that the platform's QR code points to, which can be a personal social media account, a blog post, a project official website, or a charity website, etc., gaining exposure through this "traffic entry". If the bid is surpassed, the funds will be refunded immediately.

QRcoin will announce daily auction results on multiple social media platforms to drive traffic to the target website. Considering the immutability of QR codes, as the reach of online and offline dissemination expands, winners pointing to links are expected to gain exponentially increasing traffic. Each successful auction adds "bricks and tiles" to the dissemination of QR codes, and future exposure will continue to accumulate as the reach expands.

The project has also launched the "Discover and Earn" mechanism. Users just need to visit the official website, check the winning projects of the day, and return to the page to receive a small amount of QR Token rewards. This mechanism encourages users to explore new on-chain projects daily while earning participation rewards. Users can also win additional QR rewards by sharing screenshots of their claims and their Ethereum addresses on social platforms.

Data Analysis: Latest Bid Price Hits New High

As of now, QRcoin has held 96 auctions, with the latest winning bid reaching 3,500 USD, setting a new historical high. The total auction winning amount is close to 44,000 USD. It can be clearly observed from the data that the recent auction enthusiasm has significantly increased.

Historical winners include the like reward project Noice (5 times winning), Clip.fun, which is similar to Reddit but allows rewards through posts and comments (3 times winning), and even some NFT trading platform's official website has participated in bidding. Other winning content includes social media homepages, post promotions, Token page promotions, etc.

QR Token Situation

QRcoin developers issued QR Token through Clanker on Farcaster on February 6. The official statement claims that QR has no team allocation, internal personnel, or venture capital support.

After the issuance of the QR Token, the market value mostly stayed below $40,000 for 22 days. On June 10, it rose to a historical high of about $6 million, and it has now dropped back to around $4.5 million. Given the recent significant rise, investors need to be cautious to avoid blindly chasing high prices.

Regarding the value drive of the Token, QRcoin will use a portion of the daily auction revenue to repurchase QR, closely linking the Token value with the demand for advertising space, thus forming a virtuous cycle between the Token and the ecosystem. However, it is currently unclear the specific daily repurchase quantity. In addition, the aforementioned "discover and earn" mechanism can increase platform traffic to a certain extent and encourage users to explore the winning bidder's links.

Summary

Compared to traditional advertising platforms, QRcoin's on-chain auction model is completely decentralized and transparent. Bidders can directly direct traffic to their own projects or promotional content. Additionally, users can obtain tokens through simple interactions without the need to invest, which may attract a large number of new users to join the ecosystem.

QRcoin's unchanging QR code acts as a "traffic anchor point," which may exhibit compound growth over time. However, if the subsequent auction winner fails to obtain sufficient traffic returns (such as low conversion rates), long-term auction enthusiasm may decline. Balancing short-term traffic exposure with long-term value accumulation, and becoming a true value link connecting users with quality projects, will be the key to QRcoin's sustained development.