M2O Project: Seamless Union of Loyalty Points, Crypto and Fiat
How many loyalty programs are you a part of? Have you ever tried to calculate? We usually have thousands of different points and bonuses but still cannot use them to the fullest. Is there a way to change it? It seems that the solution is already here.
Getting rewards for purchases is what surely makes the customer fall for the brand. Thus, this is not surprising that the value of the global incentives industry continues to grow each year. While in 2013–2014 the North American loyalty market was worth $54 billion dollars, then in 2016 it comprised $90 billion. Meanwhile in 2017 it already reached about $320 billion.
In addition, 53% of American consumers are unsure of how many points they have collected, as 3Cinteractive’s research states.
So, what prevents people from enjoying their accumulated bonuses?
It’s often the case that having collecting them for months, shoppers finally find out their points no longer viable — they have simply expired. How do clients feel? Confused, if not to say disappointed.
Moreover, quite often customers are not satisfied with the reward menus. They are not interested in products, offered as gifts.
Also, current loyalty programs are tied down to one place. Simply put, if you have bonus points from a shop in London, most likely you won’t be able to use them in the same brand store in Singapore.
“Mileage to Opportunity”, says the slogan of a Korean company M2O, and that’s what it is currently doing. The startup aims to bring new opportunities to people and allow them to use loyalty points like a real asset: spend, sell and exchange.
To implement this idea, M2O utilizes the blockchain technology that has already gained much traction in different spheres.
The project has created its own cryptocurrency that will act as a universal digital asset — people will be able to convert all sort of loyalty rewards into M2O tokens, and then use them as freely as cash. In order to ensure the safety of coins, M2O will have a Mileage Bank, where these will be securely stored.
Having M2O tokens, a customer will be able to buy points of any other loyalty program, and even spend them as fiat on shopping in the wide network of M2O affiliated stores.
About the project
M2O is working on the global integrated mileage and reward points program platform. The whole idea behind the project is to allow its users to convert their loyalty rewards into internal tokens — M2O coins — and use them for goods and services of various merchants affiliated with M2O project.
Additionally, customers will have access to M2O digital wallet, where they can securely store their tokens. M2O is planning to start the second crowdsale on October 29th at, 16:00 JST time (UTC +9), that will be officially ended on November 23rd at 16:00 JST time (UTC +9). They have set a hard cap of $56 million and soft cap of $5.6 million.
While participating in the second stage, remember that only Ethereum is accepted. Crowdsale token price is of 30000 M2O for 1 ETH. Minimum contribution is 1 ETH. Total Supply is 35 billion M2O; meanwhile supply for the ICO is 14 billion tokens.