Blockchain technology is disrupting nearly every industry, changing them for the better. If you have been following the news at all, you’ve probably heard of bitcoin and how it is challenging the global payment system. Well, blockchain technology could be applied nearly anywhere. Now, one space that needs a change is the loyal rewards and social influence.
Research studies tell us that loyal customers buy more stuff, provide solid-feedback, refer their friends and family, and often act as brand ambassadors.
However, it’s expensive for businesses to advertise and administrate loyalty programs. Chances are, if you’re subscribed to a loyalty rewards program, you must use your “points” or “dollars” at specific stores and some items might be restricted.
These type of restrictions take the power away from the consumer and companies, making it difficult for firms to keep consumers coming back. Companies are always looking for scalability and exponential growth, but are currently facing a multitude of roadblocks to attract and keep customers.
The solution: Create a global platform using the latest advancements in blockchain technology. In return, creating a seamless alternative for loyalty programs, redemptions and returns.
FanLogic Interactive Inc. (OTCQB: FNNGF; TSX-V: FLGC) is trying to do just that…
FanLogic Interactive Inc. (OTCQB: FNNGF; TSX-V: FLGC)
FanLogic is not only utilizing blockchain technology to drive the next evolution in brand awareness and consumer loyalty, the company is also using tokenization.
FanLogic Interactive Inc. (OTCQB: FNNGF; TSX-V: FLGC) is a Canadian-based digital promotions software company and creator of the FanLogic Connect platform. FanLogic Connect provides agencies and brands with the ability to create striking social campaigns through its innovative gamification techniques.
FanLogic Connect allows its clients to monetize their social media following, while growing their existing audience. The platform draws revenues by collecting a licensing fee. Just one of many streams of revenue for FanLogic, which could contribute to increased share value as more investors catch on.
FanLogic Interactive Inc. (OTCQB: FNNGF; TSX-V: FLGC) is leveraging blockchain and tokenization.
The firm is quietly positioning itself to become a market leader. Shareholders of the stock may be rewarded sooner than expected.
Quite simply, blockchain is a shared ledger technology, allowing companies to encrypt, or protect, data on anything ranging from money to loyalty rewards. Blockchain is incorruptible and has no single point of failure, making it highly robust.
Here’s how the technology works:
According to Netscribes Inc, the global blockchain technology market is expected to grow at a compound annual growth rate of 42.8%, reaching nearly $14B by 2022.
According to Research and Markets, “Increasing adoption of Blockchain-as-a-Service, rising cryptocurrency market cap and ICO, simplifying business processes, and creating transparency and immutability are expected to propel the growth of the blockchain market”
That said, FanLogic Interactive Inc. (OTCQB: FNNGF; TSX-V: FLGC) is revolutionizing brand awareness and loyalty rewards, and only needs a small piece of the market to experience a rise in its revenue and market value.
With blockchain technology, there comes tokenization
Tokenization is an inherent part of blockchain technology. Every blockchain platform is powered by coins, or tokens. Tokens are highly useful for platform identification and accessibility. Tokenization is highly effective when it comes to data security and helps to protect sensitive information, a problem users and companies have had to deal with in the past with large scale data breaches.
The power of tokenization According to Research and Markets, the global tokenization is expected to grow at an immense compound annual growth rate of 22.4% between 2017 and 2022.
Now, FanLogic is planning to use a loyalty token in order to track and reward users’ actions. The loyalty blockchain would be funded from a percentage of fees, which brands pay FanLogic for customer engagement and acquisition. These tokens would be redeemable with all brands in FanLogic’s network. Moreover, it could be used as a currency on its future online gaming site with the opportunity to increase rewards for higher redemption.
FanLogic Interactive Inc. (OTCQB: FNNGF; TSX-V: FLGC) is making moves to create a cutting-edge platform for the advertising ecosystem.
FanLogic Interactive confirmed the creation of a stand-alone subsidiary Fanblock.io. Fanblock.io aims to develop, source and adapt new blockchain technology related to any composite part of the brand and celebrity advertising ecosystem, specifically in the loyal rewards and social segment. This is a monumental attraction to the company’s existing clients, as well as large multinational brands due to their existing loyalty programs, which have proven to be expensive and problematic.
FanLogic’s solution to the problems in the traditional marketing and advertising space is to potentially eliminate big brands’ liability through FanBlock.io. The ultimate goal with this subsidiary is to convert the liability to ROI for brands.
Now, FanLogic would use tokens to offer rewards and allow users to trade goods, spend tokens to play games on the network or buy items. FanLogic’s existing programs have been developed to easily adapt to blockchain technology.
According to FanLogic, “Our multi-level platforms are driven through our proprietary peer to peer referral based contests, loyalty programs and incentives, coupons, sweepstakes, charitable initiatives, branded games, 50/50 lotteries and charity draws, and social daily fantasy sports and entertainment contests.”
That said, FanLogic’s platform combined with blockchain technology and tokenization is poised to create a more streamlined approach to social influence and loyalty.
FanLogic Interactive Inc. (OTCQB: FNNGF; TSX-V: FLGC) is tapping into the multi-billion dollar cannabis market, further increasing its growth potential.
The cannabis industry is set to grow at jaw-dropping levels, and in the U.S. alone, it’s expected to exceed $40B by 2019. Here’s some projected figures:
FanLogic recently announced its execution of a Letter of Intent (LOI) with Belgravia Capital International to develop the world’s first unified cannabis automated industry loyalty rewards program. This would further drive the company’s growth, and the revenue model would include set up fees, generation of commissions on tracked and smart-contracted incremental customer purchases.
This innovation is just what the cannabis industry needed.
According to Fanlogic CEO Randy Brownell, “Blockchain is a solution that if utilized properly, allows for the modernization and monetization of traditional and disruptive business lines. Loyalty is our principal focus for deployment of Blockchain, and with the relationship with a leading edge company like Belgravia, we have the opportunity to be a first mover in this loyalty segment. I am thrilled to begin developing this partnership with Belgravia and to explore delivering loyalty and branding to the international legal cannabis industry.”