Pool your points. Use what you already own. Brands are starting to implement trade-able rewards points. We add value by providing customers with a place to maximize the value of their rewards points by facilitating trades.
Market: 20-35 year olds who are enrolled in point-collecting loyalty programs. This is our SOM ($7.06B). We think we can obtain 2% (155M).
Tech Stack: React Native for a mobile app, Google Cloud Platform to manage the backend, and Alchemy and Crossmint as services/APIs on top as they will allow us to interface with the blockchain seamlessly.
BMC Simplified:
- Value: Visible all in one “wallet”, increased savings, explore new reward programs, connect with friends
- Customers: 20-35 year old early adopters. Traveling Yuppies, Gamers, Crypto Bros, Students
- Get: B2B2C deals with companies looking to expand royalty programs, paid in-app CAC, Exciting UI and idea
- Keep: Gamification, social network, using points begets more points
- Revenue: Transaction fee wherein pool takes a cut of points (as high as 10%), Ads for brands
Early Ethical Challenges to Consider:
- How do different point systems affect big and small companies differently?
- Are we incentivizing companies to adopt status programs instead of points? Will we kill points?
- Will this have unintended consequences on point systems?
- Advertisements? Data collection?
