The latest implementation of consumer rewards for cryptocurrency comes in the form of Lolli, an online shopping app aimed at distributing rewards using a blockchain system. Lolli is a browser extension that recognizes when you purchase eligible products and issues you free Bitcoin as a reward for doing so.
This is a natural application for Bitcoin, which uses blockchain technology to transmit payments and store information in the most efficient way possible. In addition to providing the consumer with a seamless experience that pays out rewards in their preferred currency, it’s also a wonderful way to bring Bitcoin to the masses. By connecting Bitcoin with one of the most popular activities (shopping) that Bitcoin’s ideal demographic engages in on a regular basis, Lolli is working to spread the word about Bitcoin and blockchain technology in a fun an interactive way.
So far, Lolli’s strategy is paying off. Nearly 40% of their user base had their first encounter with cryptocurrency on Lolli’s platform. This growth appears to have been good for both consumers and the blockchain industry as a whole. So far, Lolli has been able to partner with over 750 online shopping platforms with some of the biggest players being Walmart, Macy’s, and Priceline.
In addition to its growth online, Lolli has also seen success with retail locations. They are now an option for rewards in over 900 retail locations across the country and the world. In the coming months, Lolli aims to continue expanding into more and more retail and online locations while providing an innovative way to introduce the masses to Bitcoin and blockchain technology.