What is Brifs?
Brifs.co was set up with the goal of carving out a decent chunk of the global gift card market that currently is valued at approximately $180 billion. They are aiming to achieve this goal via their smart contracts based platform.
What their site essentially offers is a way in which any of their users can easily buy a gift card from some of the leading brands in the world, all at price points that are lower than anywhere else you will find them.
They are currently trying to build a community, as well as raising capital in order to garner the interest for this service, as well as obtaining the funding needed to do so.
By utilising smart contracts and the relevant blockchain technology to sell these gift cards for ultra-low prices, they believe that they are onto a winning outcome.
It is a complicated matter when you are dealing with creating a smart contract enabled exchange when it comes to gift cards. However, if the team manage to get everything right and pull this project off, there is a massive amount of upside that will be waiting for them.
They have the advantage of being an early mover whereby they have little to no other competition that are using this type of blockchain technology in order to capture a chunk of the gift card market. Their speed to market is impressive and it only looks to get better as they receive the required funding.
It is currently a one-man team, being led by the founder Charlie Muir. He even self-funded the project in the beginning times while still working on his day job. The business was originally started in Orange County, California but it is now currently based out of Scottsdale, Arizona.
The site is now up and running, being fully functional. This allows you to buy and sell well-known gift cards to your heart’s desire. Some of the major brands that are currently on the site include the likes of Nike, Uber and Best Buy.
The aim of the platform is to have it fully liquid, as well as being a decentralised exchange for gift cards.
Brifs also has the aim of creating an experiment whereby the current inefficiencies that exist in the gift card market can be eliminated, creating better results for both the buyers and the sellers of these gift cards.
Eventually, when the ICO occurs, there will be BRIF tokens issued and they will have a pre-determined amount of coins to be made.
Their goal is to have this token used as the crypto token for all of the gift cards issued around the world. If they manage to achieve a high level of liquidity, BRIF Tokens could become the entire gift card system in the world that is open looped, with all of this digital value being easily transferable.
Brifs Rewards System
They have also incorporated a specialised rewards system into the platform which makes sure that consumers remain interested in what is being offered on a consistent basis into the long run. As Brifs are only taking micro-thin margins off each transaction, the seller and the buyer are getting the best bang for their buck.