Standard ICO Report Structure:
Part 1: ICO Analysis (What is it about? What is the ICO intending to do? Describes what the platform is.)
Part 2: CROWDSALE ANALYSIS – DETAILS & TOKEN SUPPLY
Part 3: Useful Links (Further Research)
Part 1: ICO Analysis
The dream for any ambitious business is to create a huge list of clients and customers that buy its catalogue of products and services, not only that but to ensure that any new customer it gets stays on loyal to its brand.
The invention of loyalty programs by retailers as well as other service providers has been a great way of motivating consumers worldwide to stay loyal using any particular product, goods or services.
However, customers often complain of the rather inconvenient ways they have to endure before they can cash out any kind of reward from the companies they patronize.
Gift cards are no longer convenient and any loyalty program that does not equal to a fast cash out is rather frowned upon by consumers and as such loyalty programs have begun to lose their edge in a highly competitive market.
The BitRewards Cutting Edge Solution
BitRewards is a blockchain based startup with eyes fixed on the problems creeping up on the loyalty reward programs of companies which just aren’t as catchy and as motivating as they used to be.
It is an Ethereum powered platform that seeks to shake things up and rid the industry which is estimated to be worth over $20 billion in a year, with the custom-made solutions that will kick-start the vibrancy of the industry and re-engage customers and make them loyal again.
Leveraging on the ultra fluidity of the blockchain technology, BitRewards hopes to provide companies and their consumers with the one-stop solution to the problems that plague current loyalty programs and offer each party a thing to be happy about.
A Win-Win Ecosystem
BitRewards aims to use the decentralization and instantaneous nature of blockchain transactions to lure customers who will be rewarded instantly as they shop at their favorite mall or buy their new snickers from companies that are enrolled on the BitRewards loyalty program.
Unlike present systems where the customer is rather restricted in the way they benefit from any loyalty program, the BitRewards program gives them total freedom as the customer is paid using the BitRewards tokens which they can either instantly cash out in their fiat equivalent or store for future use as the popularity and value of the token increases to cash-in some other time.
For the companies, no longer do they have to spend a single dime, as the BitRewards platform extends its loyalty rewards services completely free of charge ensuring the companies have extra cash to put into expanding their businesses.
A Rewarding Future
BitRewards comes into an industry that can do with a little innovation as it has stagnated for very long which has completely numbed the edge it used to have in encouraging consumers to stay loyal.
With new freedoms, consumers can literally mine cryptocurrency by using retailers and service providers that are enrolled on the BitRewards program.
The platform which is globally accessible hopes to give a new interoperability of loyalty rewards and the prospect of rewards appreciating with time, a thing that is literally impossible with the present systems.
Part 2: Crowdsale Analysis – Details & Token Supply
Total token supply: 2,000,000,000 Tokens
Token type: Utility Token
Token Distribution: The BitRewards platform outlines its token distribution with 64% of the total minted coins offered to buyers in its presale and ICO, 12% will be set aside as liquidity reserve for the platform, 14% goes to its founding team members, 3.5% to their advisers, 4.5% for its bounty and other early marketing campaigns, and the last 2% for any contingencies that might arise.
ICO Sale Phase: Presale
Token Price: 1 ETH= 28,800 BIT
Crowdfunding Usage: The platforms sets its funding usage with 39% deployed for aggressive marketing campaigns aimed at recruiting partners to enroll on the platform, 27% goes to developing the platform, 12% will cover operational costs, 16% will pay for management salaries, and the remaining 6% goes to hiring legal help for the platform
Team Overview- Members and Advisers
The BitRewards team is led by Alexander Egorov, with Alexander Nevidimov, Greg Mann, Sergey Alisov, Marat Arslanov, and Vitaliy Makarenko among others also on the team