Lolli Online Shopping Rewards Platform to Give Free Bitcoin For Using Browser Extension
Wouldn’t it be great to earn bitcoin while you shop? Thanks to a new browser extension called Lolli, that dream is a reality.
Lolli is a rewards platform that offers users BTC when they shop at participating online retailers. You can sign up for Lolli through a Chrome or Safari browser extension. Or, you can start shopping directly from Lolli’s website.
Different retailers will offer crypto rewards for various purchases. Each retailer sets their “cashback” rate. If you buy a product worth $100, for example, then you might get 0.5% back in crypto, which means you get $0.50 worth of BTC. Your BTC reward is then moved into your Lolli wallet.
So far, participating retailers include Barnes & Noble, Macy’s, Toms, Groupon, Hotels.com, SeatGeek, and more.
In the future, Lolli plans to launch a smartphone and tablet app. Today, however, the platform is exclusively available as a browser extension for Chrome and Safari.
Lolli launched this past week. the company was founded by Alex Adelman and Matt Senter. Adelman had previously launched a platform called Cosmic Cart, marketed as a “universal shopping cart” allowing companies to sell their goods anywhere online. That platform was eventually acquired by POPSUGAR. With Lolli, Adelman wanted to combine his love of retail with his passion for blockchain.
The name of the company, according to TechCrunch, “is inspired by the lollipops that Adelman received as a kid when visiting his bank.”
The ultimate goal of Lolli is to vastly expand the number of consumers who have bitcoin wallets while also educating them on how to use cryptocurrency.
From launch, Lolli supports 500+ retailers, which should help it avoid the “chicken and egg” problem we’ve seen with so many other rewards startups. Users aren’t going to come to the rewards platform if retailers aren’t there, and retailers aren’t going to both with the platform if users aren’t there.
Adelman claims retailers are becoming increasingly interested in cryptocurrencies. It was easy to convince these retailers to sign up for the platform because they were looking for an easy way to engage with crypto.
Lolli isn’t the first of its kind: there’s a similar app called Bumped that offers crypto-based loyalty rewards. Bumped partners with retailers to drive loyalty. Instead of handing out BTC, however, Bumped gives away free shares (“microshares”) of the stock of the company from which you just purchased.
We’ve seen similar success stories with apps like Robinhood, which is valued at $5.6 billion with just more than 4 million accounts:
“While gross transaction volume and user engagement are valuable themselves, what really drives the valuations of these companies is the wallet or brokerage accounts behind them,” explains TechCrunch in its writeup of Lolli. “Investors highly value these sorts of gateway financial products, which is one reason why Robinhood is valued at $5.6 billion with just more than 4 million accounts. Lolli’s bet is that it can become the de facto wallet for millions of consumers.”
Although Lolli supports 500+ retailers at launch, it only supports a single currency: BTC. It seems likely that many customers will get their first satoshis through the Lolli wallet. It could provide an easy and accessible gateway for users to enter the crypto financial ecosystem.
How Lolli Works
Here’s the basic process you can use to start interacting with Lolli:
Step 1) Install the Lolli extension on your Chrome or Safari (from Lolli.com)
Step 2) Shop online as normal, and Lolli will send you a notification when you’re shopping on a partner store
Step 3) After you make a purchase, BTC will be sent to your Lolli wallet
Cashback rewards vary widely. Lolli, however, claims you can earn as much as 30% back in bitcoin rewards when shopping from top brands. Listed brands include Hotels.com, Bloomingdales, SeatGeek, Classpass, Stadium Goods, Dia & Co, Finish Line, Forever 21, Elf, Hotwire, Sonos, Macy’s, Groupon, Sur la Table, Office Depot/OfficeMax, Jet, Barnes & Noble, and Toms.
Overall, Lolli claims to make it safe, simple, and fun for everyone to own bitcoin. You don’t have to change your normal shopping habits. Instead, you can shop at your ordinary retailers while enjoying cashback rewards.
To learn more about Lolli and how it works, visit online today at Lolli.com. Although the platform just launched, Lolli already pays out rewards at 500+ retailers across the internet.