🦋Rewards for Engagement

Behemoth social media platforms represent just a few of many products that offer users rewards, and the concept is not new. Frequent flier miles have been around since 1979. Credit card companies like American Express, Visa, and Mastercard have been offering rewards since the mid-1980’s.

There are many benefits of rewards programs for companies, most notably customer loyalty, since they stand to improve user retention. At their core, these programs reward users for their allegiance and attention (or time) for consistently committing to, and engaging with, the product. These programs are also gamified, whereby users have a vested interest in seeing their points increase and their eligibility for increased rewards unlocked.

The users of today’s platforms, games, and other consumer applications demand—and deserve—to be rewarded for engaging with a product. After all, we are in the midst of the most competitive attention economy the world has ever seen, and products, now more than ever, depend on user participation. Blockchains facilitate the ability for users to be compensated for their time and attention with a new level of ease and transparency.