Ico Start Date: 01-Apr-18
Ico End Date: 30-Apr-18
Cashback & Loyalty Points in Cryptocurrency. Bringing rewards on blockchain to shops & shoppers. Innovative business model. Working product, team of 20+, 5 years on the market.Software
BitRewards is a blockchain rewards and loyalty system for e-commerce businesses. It enables online stores to reward their shoppers with a cryptocurrency "BIT", which helps to increase sales by an average of 17%. Because of the blockchain and our unique business model, this cutting-edge loyalty system is offered to the businesses free of charge. With the advent of decentralized technologies, bringing the new approach to the transfer of value, the loyalty industry is bound to change profoundly. Now merchants and customers are arch-enemies: The customers don't care about the loyalty to brands or merchants — they want free stuff and easily switch brands. And the merchants need to protect their bottom line and try to extract as much from every customer as possible often slipping to manipulation. BitRewards is designed to turn this around and make merchants and customers friends again. It is an AI-based blockchain loyalty platform and ecosystem that enables online retailers to reward their customers' purchases, friends' invites, social media actions, personal details and data sharing and other valuable behavior with crypto-currency "BIT". "BETTER THAN CASH" REWARDS for customers. It has an absolute value for the customers, as they get for their purchases and activities the liquid Ethereum-based tokens, which can be traded at an exchange, transferred to another wallet or redeemed for purchases. The tokens are also designed so that they can go up in value in the course of time, which will give the customers a chance to see their rewards appreciate rather than expire. GAME-CHANGING SOLUTIONS for merchants. Merchants get valuable loyalty technology, which allows them to manage the behavior of their users via the data-driven set of tools, which they can frictionlessly integrate with their web stores. A comprehensive loyalty program increases the merchant’s revenue by dozens of percentage points*. The merchants are also tapping into the crypto-enthusiasts audience, which is very active and appreciates the attention from the early adopters of technology. The unique value proposition for the merchants is that BitRewards will offer this premium out of the box software free of charge. They will only have to buy BIT tokens to reward their users. The value of such software starts from $100-200/month. Therefore thousands of online stores will be keen to connect to the platform. We can make such a claim because we operate in the market of rewards and loyalty software for more than five years and know the problems and daily needs of the merchants. The team of BitRewards consists of probably the strongest tech core, who works on the blockchain for the retail industry. Coupled with business development and financial expertise of other members, the team is perfectly prepared to deliver an impeccable product to the global market. Competition is far behind with little experience, confusing business models and often non-existing product. BitRewards is compatible with the most existing e-commerce systems (Magento, Shopify, WordPress, Ecwid, etc.) and has signed letters of intent with the online store builder platforms, which service more than a million online stores globally.
Development of a points based loyalty system GIFTD designed to reward shoppers. (Сompleted)
Structuring the concept of using Ethereum blockchain with loyalty and rewards tools and customer development of the cryptorewards for e-commerce industry, team hiring. (Сompleted)
The full-functioning loyalty system BitRewards for the retailer and the user's crypto-wallet connected to the loyalty program, with access on the website of retailer and BitRewards website
Retailer Crypto-wallet and liquidity management smart contract
Integration of loyalty system with Lightning Network and Raiden Network (after the launch of these technologies).
Customer’s Mobile app with crypto-wallet.
Introduction of digital gift cards and scanning of loyalty cards into the mobile wallet.
Mobile SDK for merchants’ apps.
Integration of AI and machine learning into the BitRewards platform.
Blockchain based traffic exchange between online and offline merchants.
The project is moving great, the team works hard.
Existing product is always a good thing
Amazing product for ICO and very strong team. Risks I see is the possibility to do a similiar thing with existing token with large adoption and market cap (like ETH, XRP, .. ). The advise is to find a partnership with a strong e-commerce or online marketplace.
I really like rewards programs. great concept to drive sales towards a positive gain for both the business and consumer.
Great project. Good luck.
The working product is the thing that highlights this ICO from others. Anyone can check the live demo on their website. The parent company GIFTD is in the business since 2013, they've built lots of marketing software for ecommerce, that gives the credibility. Last but not least, their vision is far beyond other blockchain rewards projects. All together, this gives BitRewards project the excellent marks. I met the team in person on the Amsterdam blockchain event and i can assure everybody this team is legit.
huge industry, team proven talent, Great job!
We wanted to do a similar project, a promising topic and such a strong team should succeed
A strong team driving this one, all in all a good rewards programme. I expect this one to do well
Strong and enthusiastic team, that took ambitious, technologically progressive idea and combined it with the right people of proper skills. Good luck guys!
This is a really awesome project that I look forward to following closely! Today everything is about gamification and reward based systems. I think BitRewards has a huge potential. Good Luck Team!
Pros: + Appropriate use of blockchain; has a live demo + Comprehensive whitepaper with in-depth descriptions on the system + Great team Cons: - Slightly high % going to Management (however can be justified looking at the size of the team); could be spent more on Product Development - No one-pager; the website is too lengthy - Potentially strong competition ahead from the big players
Excellent project idea and the team is very strong. The aspect of rewarding customers in tokens is becoming a hot emerging area in the cryptocurrency space and the world at large. I look forward to where this project will go.
Rewards is a great way to increase adoption of cryptocurrency among the general public, and this ICO is focused in increasing adoption through online stores. I would like to see their vision extended to traditional stores as well. They have a strong team and there is a lot of potential Bitrewards.
For us most important, MVP and proven traction i.e GIFTD Promise are easy and cheap, execution translates into real returns. Business model can be futher improved. Community engagement needs real boost. Good product, low hype = slow adoption
Awesome project, I wish you the best.
Good team with many very strong advisors. The loyalty program has been done several times but none very effectively on the blockchain. This may have the potential and the product has a live demo.
Everything is good, but I see one minus - it's FMCG sector, where there are giants and dinosaurs. They are difficult to sign and may interfere with the project.
Great team, awesome project! I've been waiting for this ICO for a long time!
Great team and project!!!
Pros: - Team - Demo product Cons - Rising competition - Website could be a little more informative - Token economy could be more descriptive...
The lock up for team is low when all can sell their tokens within 7 months which doesnt match milestones and roadmap, this seem way to fast so team is low score due to risk they leave after 7 months . I don't understand the use of Bancor, the reserve is only 12% so what happens if the market overall goes down 50% and the reserve is sold very fats to pump the token price to keep it wihin the channel , reserves are eaten very fast. What is the range of channel that is being protected. I see this as increasing risk to company reserves rather than risk mitigation so affects vision score
Looks like a solid project. Tech part is OK, I have some trust in these guys, and the task doesn't look like a rocket science. Problem (market opportunity) is clear, let's assume we bought the idea. OK No plausible financial projections? OK, most ICOs don't bother to make them either, so let it go. One thing which really concerns me is the lack of competitive analysis and/or basic sales forecast in the WP. It is very clear, that the market is very competitive, there are established players, so the cost of sales may be extremely high as well as revenues may be sub par. And we never know, because it is not disclosed for investors. What a pity.
Generally very reasonable and interesting project. Everything looks good. The only remark on all of the three aspects and the reason not to give 5 stars: - Team has not a big track record in blockchain - Vision is nice but we're talking about an idea that has been around for ages (what's hard about it is actual implementation and market penetration) - Product seems fair und working as exepcted
Looks like a great idea! Just wondering if you guys can show some basic prototype or maybe MVP so that people cannl get enough confidence to invest in. Cheers
Good rewards program and must say a very strong team.
I think this is a very well-thought through idea and the team shown the capability to deliver.
I really love the concept and it's reward programme.
Strong team, advisors and partners. Milestones are well defined. It is rare not to find any negatives about a project and BitRewards is one of them.
All team members are from Russia, but country mentioned - Singapure, why so? "so that seven months after the Token Issue Date, all BIT tokens owned by the members of the BitRewards team are released from lock-up." - for this roadmap 7 month are too less. Risk of overvalued tokens for now. Team is pretty good. But market is too competitive and what is the reason use blockchain technology? There are already a lot of loyalty services and they work without blockchain.
Great team, Ok vision, wish them all the best
Bit Rewards team has extensive technical background in building the rewards product. Vision: The companies that listed to use their product are very small and looks like are show case customers . Unless the team puts considerable efforts and bring at least a company that has significant revenues of north of $100 Million that is interested in their rewards solution. I have seen their locking period is the shortest and that may tell the investor that team may not be in for a long haul.
"the value will go up" is a very, VERY risky statement. The rest of the project looks okay.
Great team! Good luck!
Nothing beats the idea of cashback and loyalty points. This project is s sure success.