Crypto Loyalty Programs: The Future To Earn Money When You Shop?

By: Christos Makridis

In a recent development that could redefine consumer engagement in e-commerce, Moso, a shop-to-earn platform, recently announced that it raised $2 million in seed funding to enhance its integration of cryptocurrency and e-commerce. Moso services over 2,000 merchants including giants like Walmart and eBay, offering consumers the unique opportunity to earn cryptocurrency rewards on their purchases.

The funding round, featuring contributions from Symbolic Capital, Dao5, Coinlist, Polygon Ventures, and several strategic angels, marks a significant step towards bridging the gap between traditional online shopping and the burgeoning world of digital currencies. “Our platform is designed to lower the barriers to entry for consumers new to Web3, making it easier for them to engage with and benefit from decentralized technologies through something as familiar as online shopping,” said Blake Capozza, Co-Founder & CEO of Moso.

Revolutionizing Loyalty Programs

In a strategic move to redefine the competitive landscape of cashback rewards, Moso is boosting traditional cashback rates by leveraging Web3 token foundations, such as Galxe ($GAL) and Optimism ($OP), to bring rates from a minimal 5% to sometimes up to 100%. This approach not only diversifies the rewards options available, but also scales the benefits for consumers considering to enter the market, setting new standards in the consumer rewards sector.

By integrating Web3 tokens into their rewards system, Moso is starting to leverage the potential of blockchain technology to offer value to its users. “By partnering with Web3 projects to offer their tokens as a rewards option, we collaborate with these partners to significantly enhance reward rates—sometimes increasing them by up to five times, which can amount to as much as 100%,” said Capozza. For example, under this new offering, a typical purchase that would normally earn a 5% cashback rate through conventional providers could see a return as high as 25% when users opt for a token with an active boost.”

Expanding Utility and User Engagement

Moso is not stopping at simply offering cryptocurrency rewards. The platform is keen on enhancing the usability of these rewards by integrating additional Web3 functionalities. This allows users to utilize their crypto earnings in more dynamic ways, such as accessing exclusive services or participating in unique online experiences. “Our goal is to create a seamless ecosystem where shopping rewards meet practical and recreational utility, making every transaction more valuable and every reward more impactful,” Capozza added. Moso has also prioritized convenience for consumers by combining traditional sign-in methods with digital wallets.

Furthermore, Moso’s approach has outperformed traditional cashback offers by providing up to five times more in returns. This is achieved through strategic collaborations with various token projects, enhancing the value delivered to users and making each transaction significantly more rewarding. As Moso continues to grow, its focus remains on empowering Web3 decentralized applications (dApps) with innovative reward mechanisms that drive user engagement and platform growth. This integration of e-commerce and digital currencies has the potential to set a new standard for the online shopping experience and could very well dictate the future trajectory of consumer loyalty strategies in the digital age.

“We have plans to enhance Moso by integrating AI to transform the online shopping experience, enabling hyper-personalized offers and interactions based on real-time data analytics. The integration will allow us to offer tailor-made recommendations that adapt to consumer behaviors and preferences, significantly improving customer engagement,” Capozza continued. NFTs can offer more personalized and cryptographically secure offers without having to put each consumer through the process of setting up a new account with a username and password; rewards could simply be airdropped to digital addresses.