KornChain’s LoyalT® seeks to be a global loyalty point exchange network powered by Blockchain & AI. Customers can earn, spend, exchange & consolidate points in real-time while businesses benefit from customer acquisition, repeat-sales and deep insights. On-going implementation with large clients.
Customers seem bored with loyalty schemes ‒ tracking points can be hard, often customers have too many loyalty cards, and the redemption value is low. Businesses can end up spending time and money on schemes that don’t drive loyalty or reward customers very well.
As a result, an estimated $360bn worth of points remain unspent globally.
LoyalT offers an app that allows users to earn, burn, track and exchange loyalty points quickly and easily, to consolidate for a high-value redemption.
We seek to benefit:
- Consumer insights from a global cross-industry network
- Increased customer loyalty & lower CPA
- Targeted sales campaigns via the network
- Quick and easy loyalty scheme setup for SMEs
- Intuitive app to track, earn, exchange & spend points in real-time
- Personalised offers/vouchers
- Gift points to other app users
- Donate points to 14,000+ charities
We will charge loyalty points redemption transaction fees from the businesses and drive our network growth through:
- B2B partnerships - approaching businesses to join the network
- Referral marketing - individuals can earn commissions by referring businesses to the LoyalT network
By the end of 2020, we aim to have acquired around 100 partners and captured around 0.05% of the estimated $51bn loyalty points issued every year.
Funds raised through this round will allow us to grow our business partners & user base.