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Props to Power SuperWorld’s Loyalty Token
Published Apr 15, 2021 05:38AM ET
Updated Apr 15, 2021 06:00AM ET
Props to Power SuperWorld’s Loyalty Token
- SuperWorld will integrate Props to create a user loyalty token program.
- Props aims to revolutionize social networking by rewarding users.
- SuperWorld will use Props for its real estate NFTs and NFT Salon.
Decentralized loyalty program protocol Props is all set to power SuperWorld’s Loyalty token. The partnership is set to revolutionize online community and social media use. In addition, the integration will greatly expand the growing Props network.
What is Props?
Think of the social media networks, content platforms, and peer-to-peer marketplaces of today.
What would they be without their users? Almost nothing. The success of all these businesses largely depends on the contributions of their community. However, these platforms do little to nothing to reward their users. This is largely because there is no effective way to fairly incentivize their users. This is where Props comes into play.
Props is a decentralized platform running on the Ethereum blockchain. It provides a simple API for apps to integrate loyalty programs into their network by using a shared digital token to quantify the loyalty value. The Props decentralized protocol rewards apps and businesses that instill value into the token by integrating it into their network. These tokens in turn can be used to reward their community of users. Users who hold this token get special in-app benefits along with a financial stake in the network.
The main aim of Props is to boost community participation and empower users financially. So far, six apps including YouNow, Roomi, and PalTalk have adopted the Props token, and over 9.3M users are holding it.
Now, SuperWorld has also announced its integration of Props.
SuperWorld to Integrate Props Loyalty Program
The real estate NFT platform, SuperWorld has recently announced its integration with the Props network. SuperWorld will now use Props as its loyalty token. With this token, users will get access to some special benefits within SuperWorld and its NFT Salon. In addition to this, users will also get a financial stake in the SuperWorld ecosystem.
SuperWorld NFT Platform
SuperWorld is an AR-based virtual real estate platform powered by the Ethereum blockchain. On this platform, users can buy and sell over 64 billion virtual plots of land that represent real-world spaces. Every plot on this network is a non-fungible token (NFT) that is characterized by scarcity. This means that every time a user purchases a piece of virtual land, they get a unique, irreplaceable piece of the blockchain. On this network, plots are divided into polygons that measure 100 x 100 approximately.
SuperWorld is soon expected to launch its NFT Salon. This is a digital marketplace where artists, musicians, gamers, and other creators can create and sell NFTs for their work. NFT Salon also helps these creators gain exposure and build a community of their own.
How Will Props Integration Benefit SuperWorld Users
SuperWorld’s integration of the Props token will benefit the users and the network in a huge way. Contributors to SuperWorld and its NFT Salon will be rewarded for minting, buying, and trading NFTs, maintaining login streaks, and connecting a wallet. Users will also get access to some additional benefits like special offers or bonus NFTs.
This reward system boosts engagement and encourages users to further contribute to the network. As more and more people contribute, the value of the network itself increases. This creates a virtuous circle where all the players benefit in some or the other way.
In the words of SuperWorld co-founder Hrish Lotlikar,
By integrating Props as a loyalty token, we believe we are providing active community members benefits and a financial stake in the network they are helping to create.
Closing Thoughts
Users form a very important part of the marketplace. Without their contributions, almost every app or platform can be rendered useless. In order to see steady growth and form real connections with users, it is extremely important to incentivize them for their actions. By integrating loyalty tokens like Props, businesses can ensure that their users get real, tangible rewards from the growth of the network they helped create.
This article was first published on coinquora.com
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