321 Link up! How to use QRcoin to play around with on-chain auctions through QR codes in the Base ecosystem?

What makes an unchangeable QR code worth a higher price for advertisers?

Written by: KarenZ, Foresight News

As attention becomes a scarce resource, a Base chain attention machine centered around QR codes is capturing community attention. QRcoin, a project that promotes links for auction winners through daily auctions, is being viewed by the community as an advertising space rental product for small and beautiful projects, as well as an Alpha discovery engine.

Meanwhile, the QRcoin token QR has surged over 13 times since May, with a current market capitalization of 4.3 million USD. The Base officials have also stated that QRcoin is a fusion of "games, performance art, and on-chain attention machines."

What is QRcoin?

QRcoin is essentially a daily attention auction platform based on Base, and it has also launched a Mini App on Farcaster. The operation logic of QRcoin is relatively simple:

Every day, an auction will be opened on the platform's website (bidding in USDC), and the "target" of the auction is the QR code pointing right of the day (the QR code will never change), that is, the winner of the successful auction can decide that the platform's QR code points to the website on the day - whether it is a personal social media account, Twitter post, blog, or project official website, token page, or public welfare website, all can get exposure through this "traffic portal". If the bid is surpassed, the funds will be returned immediately, so there is no need to worry about losses.

QRcoin will announce the winners of the daily auction on social media such as X and Farcaster to direct traffic to the target website. Considering that the QR code never changes, auction winners are expected to get exponential growth in traffic to the link as it continues to spread in both online and offline communities. This means that the success of each auction is "adding bricks" to the dissemination of QR codes, so that future exposure will continue to be superimposed with the expansion of the scope of communication.

QRcoin.fun has also launched a "Discover-to-Earn" mechanism. Users only need to visit the qrcoin.fun website, check the winning auction items of the day, and then return to the page to claim a small amount of QR tokens. This mechanism encourages users to explore new on-chain projects daily while earning rewards through participation. Users can also win additional QR rewards by sharing screenshots of their claims and their Ethereum addresses on the X platform.

The QRcoin developer @0FJAKE is quite active on Twitter and has also released the Base Colors NFT series (a 1/1 series of 16,777,216 colors in the RGB color system).

Data Pivot: The latest bid price for QRcoin has reached 3500 USD

As of now, QRcoin has held 96 auctions, with the latest winning bid reaching $3500, setting a new historical high, and the total auction winning amount is close to $44,000. It can be clearly observed from the chart below that the recent auction activity has significantly increased.

Source: QRcoin

In the past, the winning bidders had 5 winning bids in Noice (like reward project), 3 times winning bids in Clip.fun (similar to Reddit, but rewards can be earned by posting and commenting), and even the ZORA official website, there are also Twitter pages and post promotions, Farcaster posts, and token page promotions.

QR Token

QRcoin developer Jake issued the QR token on Farcaster through Clanker on February 6. QRcoin officials have stated that QR has no team allocation, no internal personnel, and no VC.

Within 22 days of the QR token launch, the token's market value remained below $40,000 for most of the time, surged to a historical high of approximately $6 million yesterday (June 10), and has now retreated to around $4.5 million.

Regarding the token effect, QRcoin will use a portion of the daily auction revenue to buy QR, and closely correlate the value of QR with the demand for advertising space through the auction mechanism, forming a positive cycle between tokens and the ecosystem. However, it is unclear how many tokens QRcoin buys per day. In addition to this, the aforementioned Discover-to-Earn mechanism can enhance platform traffic to a certain extent, encouraging users to explore the winning bidder link.

Summary

Compared to traditional advertising platforms, the on-chain auction model of QRcoin.fun is completely decentralized and transparent. Bidders can directly direct traffic to their own projects or promotional content. Additionally, users can earn tokens through simple interactions without needing to invest, and this low-cost participation method may attract a large number of new users to the ecosystem.

QRcoin's unchanging QR code serves as a "traffic anchor point", which may exhibit compound growth over time. However, if the eventual auction winner fails to achieve sufficient traffic returns (e.g., low conversion rates), long-term bidding enthusiasm may decline. Balancing short-term traffic exposure with long-term value accumulation will be key to QRcoin's continuous evolution, enabling it to genuinely serve as a value link connecting users and quality projects.