i still don't understand a lot of ya'll are crashing out on this
i never suggested hosting it or picking winners, but a structure that favors everyone including the project - but increase quality and participants
i'll use the two case studies to explain
(for the records; i'm not a fan of these two structures and not what i would have suggested)
earlier this year,
@getBusha hosted a $5000 contest on
@SuperteamEarn
they shared it to just 3 winners - i think it was too small for that pool prize
but one thing it did was it made participants create mind blowing videos. check the quality of the top 5 below;
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nitter.net/energy_0x/status/20222…
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nitter.net/theProcessXCII/status/…
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nitter.net/0xcryptooracle/status/…
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nitter.net/justfreaqy_/status/202…
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nitter.net/osyusiholo_/status/202…
the whole CT talked about them all that period, but it had a flaw - LIMITED NUMBER OF ENTRY
that's because low quality creators were discouraged after seeing the quality of entries from other participants and gave up
the solution to this would have been to have smaller rewards to attract low quality creators to also have a chance, cause they matter too
they could have shared $3000 to top 5 and $2000 to the next 15 = a total of 20 winners
I promise you the quality of the entries would have been the same, but the number of entries would increase
before proceeding, notice how i didn't talk about account size as it doesn't determine quality. The person that came second in that
@getBusha campaign is even still seating at 600 followers till date
so if you're good at what you do and the judges are honest, you shouldn't have an issue with any structure. but a better structure increases your odds
let's proceed;
a typical example is what
@stevewilldoit is doing with his
#gamdom100k challenge
he has a $100k, but decides to share to just 10 winners - he could have easily shared to 100 or 1000 winners, but understands that $10k to one person will attract high-quality content
You can see that from how hard participants are going on it
but that alone would have made the number of entries limited, so he decides to set aside an extra $10k to be giving out $100-500. that alone will encourage more participants
"if i don't come out top 10, i could still win 500 bucks, so let me give it a shot"
based on my experience i'll summarize it this way;
▪︎ #15 Million to 150 participants ❌️ - high-quality content will be discouraged because how much time and resources it'll cost them to deliver. the rewards wouldn't encourage them
▪︎ #15 Million to 5 winners ❌️ - you'll get high quality contents, but little number of participants, cause low quality creators will be discouraged
▪︎ Strike a balance in between and you'll win all round - there's more to making the most of a campaign no matter the pool prize, but this is an overview for educational purpose
this is my specialty and i'm the best at it.