CausePlay, the mobile customer engagement, loyalty and rewards solutions provider has announced the launch of its ICO campaign. The campaign that went live on July 20, 2017, offers an opportunity for investors to purchase Virtual Cash Back (VCB) tokens — the cryptocurrency fueling the thirtythree.8 platform.
Thirtythree.8 is created as a division of CausePlay, with the intention of implementing blockchain technology along with multiple patents licensed by the parent company. With the new platform, CausePlay is developing the world’s first blockchain-secured rebate and coupon issuance and redemption infrastructure.
Built over Ethereum blockchain, the introduction of VCB token will enable the company to introduce new programs and products that can address various challenges currently faced by the existing coupon and rebate processing systems. The platform caters to a market whose size is estimated to be over $20 billion per year, in the United States alone.
By leveraging the features of blockchain technology, CausePlay seeks to solve the problem of coupon and rebate fraud, which presently costs the companies as high as $600 million a year. It also benefits the brands and companies in multiple ways. The VCB token driven loyalty and rewards programs are global in nature, which allows companies to implement a universal loyalty program across the world.
Also, the use of cryptotokens enables the brands to extend their programs even to cover the unbanked, who have the purchasing power of over a trillion dollars per year. The unbanked consumers can now make use of the VCB token economy to benefit from the rewards, coupons and loyalty programs run by some of the well-known brands.
The ongoing CausePlay ICO campaign offers an opportunity for investors and cryptocurrency community members to be part of a revolutionary product in the brand loyalty and customer retention solutions segment. In order to purchase VCB, users can contribute to the token contract available on the platform’s website.
The token holders can use VCB to avail special offers, participate in contests, and even make purchases. The platform also provides an option to redeem the tokens for cash. Once the VCB backed programs go live, users will be able to earn tokens whenever they shop, receive bonus value on select brands and products and more.