Incent Blockchain-based Loyalty Reward Program ICO Surpasses US$1m

Blockchain project Incent continues to make media headlines as of late. After raising US$1m for its blockchain-based loyalty token project, the company also announced they are licensing the ICO technology to other businesses. It is good to see more blockchain projects focusing on the merchant and retailer side of things.

A Big Crowdfunding Campaign For Incent So Far

When the Incent crowdfunding campaign launched, no one was sure how much money the team could raise for their blockchain-based loyalty token. As it turns out, there is quite a lot of interest in this project so far. By raising over 1,024 Bitcoin and 832,076 Waves, the total ICO investment sits at just over US$1m. Keeping in mind how this ICO will run until the end of November, the final tally could be much higher.

The team hopes to raise a total of US$5m by then, even though that may be a bit too optimistic at this stage. The partnership between BitScan and Waves offers a unique way to make loyalty programs more efficient and transparent for all parties involved. By using blockchain technology, all of the recorded data is tamper-proof.

More importantly, the Incent platform gives merchants full control over their loyalty program. Everything can be tweaked and configured, including the levels of reward. A proof of concept wallet solution has been developed by BitScan already, and the merchant directory consists of nearly 10,000 merchants accepting Bitcoin payments. For Incent, this is a more than viable starting position to revamp loyalty programs as we know them.

BitScan CEO Rob Wilson stated the following:

“The goal for Incent was to create a token of steadily increasing value, driven by organic market demand which also benefits our ICO investors. As we continue to partner  with merchants to reward their customers with Incent, we look forward to seeing the value of the token rise, and to more companies recognizing its benefit as a loyalty solution.”

But there is other news from the Incent camp, as they are licensing their ICO technology to other companies. This turnkey solution makes crowdfunding with cryptocurrency a lot easier. Additionally, this decision provides an immediate use case Incent. One customer has already embraced this technology.

Cannabis Revolution is a project focusing on the emerging legal marijuana movement in the US. Every investor of the Cannabis Revolution crowdsale will receive Incent as an additional reward. This ICO crowdsale will start on December 2, 2016, and it will be intriguing to see if the new technology can bring additional funds to this cause.

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About JP Buntinx

JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.