- Starbucks recently held successful campaign with digital product redemption.
- Over 400 new global brands and merchants will create their own campaigns to promote customer engagement.
The retail aspect of the cryptocurrency industry provides substantial revenue, and there are many companies that have worked to expand crypto’s reach. BLOCKv decided to partner with global digital reward platform Reward Cloud, working to get more consumers to engage in digital product redemption with various brands and merchants. Towards this effort, the companies recently completed a Starbucks-based campaign for virtually dropped redeemable coffees, though the campaign was centered in the UK.
Ultimately, the company wants to use certain traits of gameplay to get customers engaged with different products, which means that they would pre-fund goods in the real world with their campaign. The campaign would also include “Vatoms,” which are the digital object representations on BLOCKv’s blockchain. These digital objects are redeemable in stores, using the Reward Cloud network in real time.
Vatoms are created with the intention of connecting the content creators with their customers, which can mean artists, governments, gamers, and more. Starbucks became the first campaign launched by the partnership, which the VP of Partnerships at BLOCKv, Jon Knight, called successful. They managed to distribute 50 Vatoms of Starbucks coffee, allowing users to pick up the digital objects on a map they could see on their smartphones. The objects were instantly redeemable, allowing them to purchase a drink from any Starbucks in the UK after collection.
With this new opportunity in the market, digital products pave the way for an entirely new level of customer engagement. Michael Novogratz stated in an interview in March that the advertising industry could be completely disrupted in a matter of five years, giving some credit to BLOCKv’s holding company Vatomic and the way it develops virtual goods.
Knight added that there’s obvious advantages to hosting sampling games and gamifying campaigns, but it also creates an opening for other industries to get involved. As an example, he stated,
“Imagine players being able to grab scarce in-game objects and then redeem them for real physical equivalents. This opens up new advertising revenue streams for gamBLOCKes developers.”
Along with Starbucks, there are 400 global brands and merchants that will most likely be using Vatoms as well. BLOCKv’s Director of Product Marketing, Brett Loney, said that there is another experiment coming as well, when the VP of Marketing speaks on potential use cases with Pepsi, Uber, General Mills, and others. Loney said that the VP, Alyson Griffen, will be speaking on these matters at the Event Marketing Summit in Vegas, where users will be asked to find and capture digital butterflies. The top 5 collectors will become the recipients of an AR Oculus Rift.
Alex Preece, the COO and co-founder of Reward Cloud, stated that this platform is excited to collaborate with BLOCKv, and added that the Vatoms will ultimately bring forth more innovation to their retail partners.
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