Rewards.com
WHAT IS REWARDS?
Rewards.com is introducing a global marketplace that brings together over 100,000,000 products and 7,000 merchants, including restaurants, travel, entertainment and retail. This marketplace will allow customers to earn and redeem, what we call RWRD tokens, at any participating merchant or be traded on the exchanges. We believe this solution will transform loyalty by taking cryptocurrency mainstream, building a healthy and strong token economy and restoring true value to the consumer reward.
We are an established leader in consumer loyalty and rewards marketing and we are expanding our presence by creating a universal loyalty program powered by blockchain technology. The mission of this new program is to take cryptocurrency mainstream and give the power of loyalty back to the customer.
PROBLEM / SOLUTION
Imagine a loyalty solution that has all the advantages and none of the drawbacks of a traditional rewards program. At Rewards.com we have made that dream a reality by creating an innovative solution through the use of blockchain technology to introduce crytocurrency to the mass consumer market.
TECHNOLOGY
Rewards leverages the best in breed technology to build a fast, reliable and scalable ecosystem. Our solution is made up of 3 main components; the core platform, the blockchain and an authentication scheme. RWRD tokens are funded by merchant partners and are passed on to the consumers. Instead of cash back or points the consumer earns the RWRD tokens. Rewards.com will buy from the open market of available tokens needed to fulfill the consumer’s earning at the current market rate.
TEAM MEMBERS
The Rewards.com team has a proven track record of consumer engagement with years of experience in the design, development and management of complex loyalty and rewards programs.
The team’s 120+ years of combined experience in both loyalty marketing and technology development drives the company’s product innovation and development of 15+ years of successful relationships with top merchants including Walmart, Groupon, Lowe’s, Macy’s, Target and many others.
Todd Rowan - CEO & Co-Founder
Linda Butcher - CBDO
Michael Shepherd - VP of Marketing
Reuben Godfrey - European Operations Manager
Jeremy Rowan - Community Manager
+6 others
Strengths
- Sizeable, experienced, verifiable and well networked team
- Multi-shop crypto cashbacks solve real problems in the ecommerce marketing ecosystem
- The provided materials and the website look good
- Big social media channels with good community engagement
- The project has a couple of good looking blockchain industry partners
Potential concerns
- The system provides quite a little incentives for the early investors due to high initial valuation and only a few effective mechanisms to increase the token value
- Only 40% sold on the markets and the total initial token valuation of ($0,35*1b = ) $350m seems extremely high and leaves very little room for any short term token value increase
- There is no roadmap as such, but a single statement in the white paper describing a plan to build own blockchain platform for white label cashback solutions. There is not further reasoning or industry analysis about is that a reasonable goal
- No information about the nature of the published partnerships
- Some of the relevant token economics information was a bit time consuming to find
Summary
A credible and experienced team which has a functioning crypto cashback product built in a relatively advanced stage. The biggest negative contributors to the rating of Rewards.com comes from the token economics side of the project. Very high initial token pool valuation makes the odds for quick value increase unattractive for the early investors. Only 40% of the tokens are sold on the markets. There are no technical mechanisms planned in the smart contract to reduce the supply of the tokens over time, all the growth is dependent on the growth of the user base. From the end users' point of view the system looks very attractive, but for early contributors the setup is very risky and requires a huge project success to multiply the initial contribution.
