What makes your project different between other similar projects?
Hey Anthomy! Thanks for asking,
For one we already have an established merchant base of a few thousand merchants which give us a huge competitive advantage. Our CEO has been in the loyalty industry for 20+ years with corporations like American Airlines, Marriott and Bank of America.
How does Rewards.com bring value to the ecosystem of cryptocurrency?
Problem solving one of the biggest problem we find in the cryptocurrency community is finding value in projects. At Rewards.com we innovated a token that inherits a fungible value to give to the community by a number of ways;
• Shopping on Rewards.com customers can earn tokens on everyday purchases like groceries or clothes from their favorite store.
• Enabling customers to have control over their own experience and engagement with brands through agile delivery.
• RWRD buybacks - Rewards.com will buyback tokens from an exchange to distribute to earners. For every 100,000 shoppers rewards.com will buyback approximately $5,000,000 Worth of RWRD tokens putting pressure on the market value.
• Creating liquidity through redeeming tokens used to get discounts on many of our merchant partners.
• RWRD tokens are fungible with fiat currency and cryptocurrency. Consumers will be able to trade RWRD for other cryptocurrencies, as well as purchase RWRD tokens directly using fiat currency or other cryptocurrencies.
• Shoppers gain opportunity to earn and redeem RWRD token with no change to either the merchants’ or customers’ user experience for a seamless integration.
• Single crypto wallet managing multiple membership programs. No more plastic cards or multiple reward programs.
• Transparency between customer and merchant reducing loss of points, fraud abuse, and any other type of manipulation of the transactions.
• Tokenizing loyalty points makes RWRD tokens traceable creating a virtually fraud proof program.
• No personal data is released to merchants for user protection and security.
Significant liability reductions for small businesses and corporations.• Because points are a growing liability on corporation’s accounting books, corporations and program sponsors try to expire, complicate, and devalue the points as much as possible. This creates a conflict in driving true customer loyalty. Customers may feel rewarded when they earn a point, but they certainly don’t when they try to redeem them.
• Corporations can reduce liability rewarding customers with RWRD tokens in lieu of a “reward point” indubitably taking millions of dollars of unused loyalty liability points off of the balance sheet.
Reducing customer retention • Customers don’t often benefit from being loyal to a specific merchant over a period of time. In order to solve that problem by expand attracting new customers through the network of blockchain. Studies show It can cost five times as much as keeping an existing customer, so companies need to pay as much attention to retention as they do to acquisition.
Increase consumers engagement using RWRD tokens.
• For example, Joe has a reward point with Macy's and wants to redeem it through JCPenney’s. If JCPenney’s allows that they have to purchase Macy's loyalty points for the consumer to redeem, costing time and money.
• Through Rewards.com decentralization of Blockchain technology creates a universal loyalty point radically expanding the consumer base for all companies reaching to the international level.
Decentralizing the loyalty program coalition • No one central bank, government, merchant or entity can control the value of the reward cryptocurrency. The community dictates the value given through supply and demand. Traditional Loyalty providers control loyalty interaction by embedding parameters such as expiration dates, how points are exchanged, blackout periods and fine print rules you probably don’t read. Hence, the due diligence that governs the reward transaction is already accomplished with the blockchain architecture.
• Decentralization enables customers to have control over their own experience and engagement with a brand through agile delivery.
