Blockchain Founders Group invests in Me Protocol to power cross-brands loyalty rewards
Written by Albert Sugiharto
We at the Blockchain Founders Group are excited to announce the latest addition to our investment track record through investment in Me Protocol. Me Protocol creates an instant, frictionless, and limitless multi-vendor loyalty program for customers to access multiple rewards across multiple brands.
Why we invested in Me Protocol
A study by Accenture shows that there is an upward $180 billion total value in the global loyalty rewards programs. Of all these, about 54% of members are inactive, translating directly to approximately $90 billion in losses. Another research by Statista showed that only 7 out of 17 consumers are actively participating in brands’ loyalty programs.
The problem arises from the limited options for consumers to redeem their loyalty points. Each brand uses a different point system that could be redeemed within limited reward options. Sometimes the said rewards might not be available to consumers due to geographical proximity and availability. Some brands tried to tackle this issue by creating a partnership with different companies to expand their reward base, but even then consumers are still bound to one loyalty program and could not seamlessly transfer their accumulated loyalty points to another loyalty program.
Me Protocol aims to empower the brand economy
By creating a ‘reverse marketplace’, Me Protocol simplifies the redemption and exchange of loyalty points, allowing users to redeem seamlessly across brands. This is powered by a decentralized protocol with its own token, making it possible to integrate different loyalty systems and connect them with Me Protocol’s platform. Users now have more options to spend the loyalty points across brands while keeping track of their various loyalty points on one platform.
Here is how Me Protocol will empower the brand economy for both users and companies:
- Me Protocol creates a seamless experience for users to exchange their loyalty points and redeem rewards across brands.
- Brands could utilize the Me App — an integral part of Me Protocol — to access different services available (e.g. advertising and analytics) to optimize their reward program ROI.
- Me Protocol aims to decentralize its governance through the upcoming Me DAO, allowing different stakeholders (e.g. brands, customers, developers, etc.) to have ownership and decide over the protocol’s operation and future.
Take a look at how Me Protocol fuels the brand economy within their ecosystem:
Me Protocol key features for a cross-brands loyalty program
About Me Protocol
The team behind Me Protocol has extensive knowledge in the blockchain industry, innovation and investment. Robert Wesley, CEO and co-founder, is a serial entrepreneur and has founded several companies in the field of digitalization and blockchain-based investment ventures. Paul Oamen, CTO and co-founder, is an experienced engineer with deep knowledge of blockchain technologies. The Me Protocol team is backed by well-known entrepreneurs to innovate the loyalty rewards industry. Learn more about Me Protocol on their Website and LinkedIn.
About Blockchain Founders Group
BFG Blockchain Founders Group is a company builder and early-stage venture capital investor. Our team comprises academic and regulatory drivers of the blockchain economy, serial entrepreneurs, and venture capitalists. We love to work with outstanding entrepreneurial talents and bring to bear the full support of our network to make them succeed. Follow us on LinkedIn, Medium, or Twitter.
About BFG Superstars Program
The BFG Superstars Program is a crypto incubation program for pre-seed ideas and a place for blockchain talents and co-founders to meet and launch crypto startups in 2 to 3 months. Each cohort will launch 5+ crypto startups with different blockchain-based solutions. At the end of the program, selected startups will receive funding amounting to $60,000. Find more information about the program here.