LoyaltyX launches new blockchain loyalty project with UNSW

The experimental agency has invited uni students to trial a new program set to to disrupt traditional loyalty programs

Experimental loyalty agency, LoyaltyX, and the University of NSW (UNSW) have partnered on an innovative blockchain loyalty research project, giving students an opportunity to earn ‘Ethercryptocurrency’ at the checkout of participating merchants simply by scanning a barcode in their digital wallet.

As part of the new ‘Unify Rewards’ program that goes live on trial today, UNSW students and staff can earn $5 of ‘Ether’ for every 10 transactions they make across 11 campus retailers, including Boost Juice and IGA.

The program claims to give members access to the Ethereum network-supported cryptocurrency, Ether, with no risk or investment required. The platform solution also leverages loyalty platform technology from Loyaltycorp, data capture technology from PicoLabs, and Honeywell scanners at checkout.

LoyaltyX chief design officer, Philip Shelper, described it as the first major advancement in loyalty program design since the frequent flyer programs launched in the early 1980s – and the potential is massive.

“Consumers are tiring of big loyalty programs that devalue points balances over time to boost their profits,” he said. “Cryptocurrency democratises the program design, with the value of the currency increasing as demand increases. Our project also allows members to own cryptocurrency without having to invest their own money, thus de-risking the experience.”

LoyaltyX MD, Andrew Lowe, said the project steps into uncharted territory to disrupt traditional loyalty points programs.

“This is the first time a loyalty program allows members to transact across multiple retailers and earn a popular cryptocurrency which fluctuates based on market forces,” he added. “Last month, the value of Ether rose by 30 per cent, so we’re excited to see how members respond to this type of loyalty currency vs traditional approaches such as points. We’re confident they’ll find it much more engaging, but the research will give us a more definitive answer.”

UNSW students and staff have been invited to join the project, with registrations now closed. The project runs for the next six weeks, with regular updates posted on the Unify Rewards website.   

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+:google.com/+CmoAu

 

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Blog Posts

5 things marketers need to do to get better in buy in when presenting

Presentations are a marketer’s best friend. They can be a concise, targeted and effective form of communication with the potential to make a real impact on your audience.

Emma Bannister

Founder and CEO, Presentation Studio

How to overcome negative habitual thinking

One of the greatest challenges facing senior leaders today is what’s going on in their own head.

Lisa Stephenson

Author, success coach, consultant

The purpose of purpose

Everyone knows the 4 P’s of marketing: Price, product, promotion and place. There is now a fifth ‘P’ in the marketing mix.

Thanks Nadia for sharing this blog. It has really useful and amazing information about Salesforce Commerce Cloud and digital engagement w...

Holly Smith

Adidas taps data and technology smarts to build personalised digital engagement with consumers

Read more

clearly someone who's jealous and only comments from the safety of being behind their keyboard

Peter Sibson

The purpose of purpose - Brand science - CMO Australia

Read more

haters gonna hate

David Bentley

The purpose of purpose - Brand science - CMO Australia

Read more

Social Media is platform where people get connected to each other from the world and share their views and thoughts on any product. Socia...

Tejas Potfode

6 Ways to ramp up Social Media to Your Web Design

Read more

We can't overlook mobile. Each passing day people are on their phones more and more

This Is My South Bay

What the 5G revolution will do to mobile marketing

Read more

Latest Podcast

More podcasts

Sign in