In a move set to disrupt the multi-trillion dollar, global shopping industry, Shping will launch a cryptocurrency for product marketers to reward and influence shoppers before they make their purchases, in store.
Commencing January 2018, for one time only, Shping will release five billion Shping Coins to the public as part of its Token Sale – an opportunity for brands and crypto-enthusiasts to purchase Shping Coin at the introductory price of USD $0.01.
Shping Coin will be the first cryptocurrency designed specifically for brands, retailers and certification bodies to use to reward consumers directly for their attention, engagement and loyalty – a new model for paid marketing.
“Over USD $80 billion was spent on digital advertising in 2017 by brands attempting to get messages out across to online consumers. Considering that almost 90 percent of consumer spending still sits with physical stores, we see an enormous market and demand for Shping Coin” said Shping Chief Executive Officer & Founder, Gennady Volchek.
“Shping does for mobile and shopper marketing, what Google and Facebook does for online pay-for-performance advertising,” said Volchek.
“The one key difference being that our model sees brands paying consumers directly for their engagement – not the middleman.”
Shping’s “audience-earns” advertising model opens up a new level of agency, transparency and co-operative interaction between brands, retailers and consumers to allow for closer bonds and the valuable share of information.
“Businesses spend billions trying to reach consumers, while consumers spend countless hours trying to find the information to help them make their purchasing decisions. Shping now makes this a virtually effortless exercise for both parties” said Volchek.
“Shping enables brands, retailers and other advertising parties to anticipate the needs of consumers, target them based on profile information, location and prior buying habits and serve them rich and relevant content at the critical point of purchase.”
“For consumers, all it takes is a barcode scan with the Shping App to unlock information that provides insights not included on the packaging – from a product’s contents and where it’s sourced, to reviews and dynamic videos – and be rewarded for their attention.”
“It’s a new, mutually beneficial shopper marketing experience, each learns from the other with the cryptocurrency element there to incentivise the scanning process and make it worthwhile for consumers to initiate and remain engaged with the content being served.”
To market to consumers through Shping, brands using the platform must have a positive balance of Shping Coins. The only way to acquire these at present will be through the Token Sale, where Shping Coins will be put on sale directly for one time only.
The countdown for the Shping Token presale is already well underway with the official launch date set for Monday, 22 January 2018 and USD $3,000,000 anticipated to be raised by February 2018.
Five billion Shping Coins will be available for direct sale until 11:59pm on 31 January 2018 (CET). Throughout this time, buyers will receive a bonus 40% in Shping Coins. The Minimum Token Purchase required during the Token Presale is 300,000 Shping Coins. There will also be a Presale hardcap of USD $3 million.
At the conclusion of the Token Sale, those wanting to use the platform but don’t yet have Shping Coins will need to acquire them through the open market.
Funds raised will be used to continue the adoption of the App, the development of the product roadmap and enable Shping to expand into other countries.