We’ve all had a store card/loyalty bonus program/cashback which didn’t really amount to anything other than an extra piece of junk to assist with the padding out of our unnecessarily packed wallets/purses, right? I know I have!
Wouldn’t it be great if there were some form of system in place where you could combine all your Costa coffee stamps, Avios air miles, and Nandos free chicken points, and cash them out in your local currency, or use them interchangeably between stores?
If you think it would be a good idea I think you might like to be introduced to Alloy – A crypto startup offering ‘real world rewards for virtual currencies’.
As you can see from the video above, Alloy (powered by Codemojo) is an ingenious company which aims to connect the dots between merchandisers, brands, publishers and consumers to create a unified rewards system which ultimately benefits consumers across the board.
Remember what I said about collecting Nandos chicken points and Starbucks coffee stamps and them being interchangeable with an actual monetary value? That’s what Alloy are proposing. By getting brands/companies to adopt their rewards system, and subsequently growing consumer interest in crypto, they could potentially revolutionise the incentivised brand loyalty scheme system.
The idea of being able to take otherwise worthless amounts of Sainsbury’s/Tesco/Pets At Home points, which wouldn’t get you a grain of sand from a desert, and combine them with other relatively worthless loyalty points, means general consumers are able to actually start to see a more fruitful reward for their spending while still being able to shop around for the cheapest price.
When you consider the broader possibilities of the Alloy system, should it be implemented and accepted successfully, you start to understand why it has the backing of the people it does (Paypal Incubator and Gennext Hub, to name a couple). Should this technology do what it says it does on the tin, there is no reason that it couldn’t be used to reward people for, for example, cutting their carbon footprint (an energy company adopts the Alloy rewards system and issues tokens for a household using less than a set amount of energy each year).
Although my half-baked adaption of this technology is a completely out of the box idea (not expressed by the company itself, that I know of), it is an example of the platform’s possibilities and a clear example of the project’s room for expansion.
- PRE ICO: October 15th 2017 @ 13:00 UTC
- PRE ICO BONUS: 20%
- PRE ICO TOKEN ALLOCATION: 10m
- FULL ICO START DATE: November 25th 2017 @ 13:00 UTC
- FULL ICO CLOSE DATE: December 25th 2017 @ 13:00 UTC
- ALLOY WEBSITE: https://alloy.rewards.network
Please remember that this article is not to be taken as any form of investment advice and that you should do your own research before investing your hard earned cash into anything.