Cryptocurrencies offer a dynamic range of properties that can be used in a broad spectrum of different applications. A new initial coin offering is planning on leveraging these properties in order to create a highly innovative blockchain-based loyalty program that tokenizes loyalty points.
The Giftz.io platform wants to address the issues presented by the existing loyalty program paradigm. While loyalty programs have been proven to be effective in helping to retain existing customers and increase purchase frequency, they are infrequently used. According to recent statistics, more than $16 billion USD in rewards go unredeemed every year.
The Giftz.io platform wants to create a comprehensive ecosystem that provides small to medium sized enterprises with the ability to create attractive reward and loyalty systems without the high overheads associated with loyalty program development.
The Giftz.io system consists of a number of different elements, including an online store called Waulit through which users are able to redeem itCoins, the loyalty tokens used on the Giftz.io network. In this article, we’ll take a look at the Giftz.io ICO and find out what it offers to help you determine whether it’s worth investing in.
What Is Giftz.io?
Giftz.io is essentially a “do it yourself” loyalty reward program framework and ecosystem for small to medium enterprises and businesses. In addition to offering a scalable solution for SMEE businesses through itCoin, Giftz.io also offers itCoinBlack, which is designed for corporate or enterprise clients.
Using either of these programs, Giftz.io users are able to collect tokens through stores, websites, apps, games, or other mediums and redeem them via the Waulit platform. Merchants that participate in the Giftz.io system are able to give away tiered tokens to customers- the itCoin Silver or Gold, or their own branded itCoin.
Enterprise-level itCoin Black clients using the Giftz.io network will be able to provide users with itCoin Black tokens as a reward. After collecting itCoin loyalty tokens- which are stored in a dedicated wallet– customers are able to redeem them via a plastic card solution at point of sale, or via the Wualit online store.
At this point in time, the Giftz.io program aims to corner a number of markets, including car rental programs, private jets, malls, spas, hotels, theaters, employee incentive programs, hotel chains, and movie theaters.
The Giftz.io ICO
itCoin tokens are built on the Ethereum ERC20 standard, and are currently available to purchase as the ICO is already underway. The Giftz.io ICO will run until the 22nd of February, or until all tokens are sold out. At this point in them, one ETH provides 1143 ITC, while 1 BTC provides 33307 ITC. It’s also possible to purchase ITC with Litecoin.
The Waulit Store
The Waulit store provides Giftz.io users with a wide range of products and services to spend their ITC on. Users are able to purchase discounts on services, books, office furniture, aftershave and perfume, and even band radios.
Through the Giftz.io Wualit platform, participants can also complete surveys to earn more ITC, watch advertisements, or play games. It’s also possible to use the Wualit store to search for deals that can be redeemed with ITC in their local area.
The Giftz.io platform is a highly detailed solution to the issues presented by loyalty card systems, and offers consumers the ability to use multi-purpose tokens that can be used to gain a wide range of discounts and benefits. If you’re interested in a comprehensive ICO that is backed up by a serious business plan, Giftz.io is worth considering investing in.