Gatcoin claims to be “the biggest marketing innovation since the invention of points.” Find out how it works today in our Gatcoin review.
What Is Gatcoin?
Gatcoin is a loyalty program that combines the benefits of a traditional loyalty program with the digital tokens of a blockchain economy. The platform provides liquid, tradable, retail shopping incentives.
Retailers join the network, and can issue their own branded digital tokens to a mass consumer audience within minutes. Then, the platform uses “targeted airdrop” technology to drop digital tokens to target demographics based on their shopping interests and geographic location anywhere in the world.
Customers can use those retail tokens to buy products, get discounts, or claim rewards from merchants. Tokens can also be freely traded on the Gatcoin cryptocurrency exchange.
Gatcoin’s introductory video claims that the average person is a member of 30+ different consumer incentive and loyalty programs. Gatcoin envisions a future where points, coupons, and incentives can be organized in one place – even across retailers and around the world.
How Does Gatcoin Work?
The key feature behind Gatcoin is the “A-Drop”. The A-Drop promises to be a major marketing innovation. Basically, it involves “dropping” points onto a consumer’s mobile device – similar to how you AirDrop files between Apple devices.
When a retailer A-Drops digital tokens onto a consumer’s phone, the consumer will receive a push notification in seconds. Consumers are encouraged to spend their tokens at that retailer’s store.
Aside from A-Drop, Gatcoin sees itself as a loyalty program management platform. Overall, Gatcoin wants to make it easy to manage shopping incentives. You upload coupons or loyalty points, then Gatcoin converts them into digital tokens. Then, you can spend your digital tokens at brands and businesses across the Gatcoin network. So far, Gatcoin claims to have partnered with 21 big brands and 60,000 retail stores.
You can spend tokens to buy products, redeem gifts, or get discounts. You can also trade in tokens if you don’t need them, or hold onto tokens as a store of value.
Here are some of the core features and components of the Gatcoin ecosystem:
- Gat Network: The Gat network will consist of global, high-speed blockchains where retail tokens circulate and A-Drop to customers around the world.
- Gat Wallet: The Gatcoin mobile wallet can be used to manage and spend your retail tokens.
- Gat Marketplace: This is a mobile shopping portal where customers can spend retail tokens for real products.
- Gat Exchange: The Gat exchange is a full-featured cryptocurrency exchange where the public can acquire retail tokens with Gat Coins and participate in the Gat Network to buy products.
- Gat Foundation: The Gat Foundation is an independent, non-profit organization based in Singapore.
What makes Gatcoin different from other blockchain-based loyalty programs that are seeking to enter the market? The company makes a big deal of its A-Drop technology, and the fact that it’s a global, tradeable ecosystem. Gatcoin has also already partnered with major brands – including SK Planet Japan’s COTOCO gift and coupon business and 21+ major companies throughout Asia.
The Gatcoin Token Sale
There are a total of 200 million Gatcoin available through the token sale. The Gatcoins are set at a price of $0.20 per token.
The token sale begins on October 28, 2017. The minimum funding goal is $20 million USD, with a maximum funding goal set at $60 million USD. There’s a total fixed supply of 1 billion Gatcoins.
Aside from the 20% of tokens available during the public sale, 60% will be reserved for future distributions over a 3 year period between 2018 and 2021, 10% for the Gatcoin Foundation, and 10% for the founders.
The beta launch of the Gat Exchange, meanwhile, is scheduled for June 2018, with a full product launch (the app) occurring in October 2018.
Who’s Behind Gatcoin?
Gatcoin is led by Founder and CEO Simon Cheong. Other key members of the team include Professor Wei-Tek Tsai (Senior Executive Advisor) and Co-Founder and Chairman Anthony Huang.
Gatcoin aims to change the way retailers use loyalty points and programs. The company is introducing a blockchain-based ecosystem that allows retailers to target consumers with “A-Drops”. Retailers send a push notification to the user’s smartphone alerting them that they received digital currency for that particular retailer.
Meanwhile, consumers can use the Gatcoin app to manage loyalty points and programs across multiple retailers. They can spend points from the app, or add existing loyalty points in exchange for Gatcoin tokens.
To learn more about Gatcoin, or to participate in the ICO, visit Gatcoin online today at Gatcoin.io.