Fashion Tech

Effortless Brand & Retail Token Creation, Distribution Is Here Thanks to Shopin, Blockwell

Shopin releases a live demo of their blockchain and cryptocurrency platform to deliver branded tokens to retailers aimed at bringing lost marketing dollars back to the retail economy and consumers.

 

Shopin aims to bridge the gap between retailers, brands and consumers through blockchain, artificial intelligence and purchase data. Using the blueprint of success from online retail giants like Amazon and Alibaba, Shopin’s mission is to decentralize their proven technological advantages for all of retail.

“One of the secrets of a closed circular data ecosystem’s success remains in the singular understanding of the shopper along with a mechanism of reward and advertising,” said Eran Eyal, Shopin CEO and founder. “This creates opportunities to realize huge revenues as a result of synergy in hyper-targeting, personalization and advertising. We’re working with Blockwell to turn the open retail web into that same ecosystem.”Currently, retailers and brands have to turn to a variety of content distribution and advertising platforms to reach their shoppers, spending billions of dollars each year to grab their shoppers’ attention. As a result, these marketing dollars escape the ecosystem never making the shopper or retailer/ brand richer.“There is no strong link between loyalty programs that retailers run and their advertising ecosystem. That’s bizarre. Both are tools to engage the attention of the shopper, so why are they so separate? Furthermore, loyalty points are locked with one retailer,” Eyal said. “Shopin’s goal is to blend them into a coherent engagement instrument whilst bringing those marketing dollars back to the retailers and shoppers.”In Shopin’s solution:

  1. The retailer or brand can send content or advertising to the shopper via the Shopin app on their phones, emails, and other digital mediums.
  2. Instead of spending money to external firms to reach the shopper, the advertising capital goes to the shopper instead in the form of tokens.
  3. The retailer can issue the rewards in Shopin tokens or their own tokens through a simple interface. (see attached video)
  4. Branded tokens can carry different discounts or provide access to experiences and discounts for the shopper.
  5. At any stage the shopper can convert their brand tokens back into Shopin tokens to be used as a universal token or achieve liquidity.

“There is untold value in having liquidity to rewards you verifiably earned as opposed to current situations where your reward is stored in some database a company controls, mandates you interact with, and has full control over your redemption,” said Josh Smith, CEO of Blockwell. “Shopin and Blockwell are freeing the shopper and retail economy from these constraints through the Shopin token. You had the power to give that freedom away, together we’re helping to bring it back.”

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