Reewardio is a new loyalty platform from Kriptomat crypto exchange. It allows stores to offer ENJ-backed NFT rewards to loyal shoppers.
We first reported on this platform back in August. But it has now been expanded, and a new demo is available.
This article will explain everything we know so far about the Reewardio platform. We’ll explore how the Reeward.io Commerce Store works, ENJ hunt wheel, tokenized discounts, roadmap, and more.
If you’ve wondered what Reewardio is and how it works, read on to find out.
Current Reewardio features
Reewardio is currently available in “beta demo” form. Only a few features are available right now. But more will be rolled out in 2020.
Here are the features of Reewardio that are available now.
Reeward.io Commerce Store
The Reeward.io Commerce Store is up and running. Users can purchase loot crates that contain Rio currency and collectibles. They can also craft discounts and apply them to the store, as well use the ENJ hunt wheel and other platform features.
Gleam and Givelab rewards
The developer of Reewardio claims that some items are being given away on other popular rewards sites such as Gleam and Givelab.
ENJ hunt wheel
If a user manages to get his hands on some Rio currency, he can spend it to spin the ENJ hunt wheel. This may result in ENJ Hunt token prizes.
There are 6 different ENJ Hunt tokens available. If a user collects all 6, he can craft an ENJ Ingot made from 1,000 ENJ (approx. US$84 worth).
Tokenized discounts
Users can spend Rio to create discounts. Currently, these discounts can only be applied to Reewardio loot crates. More discount types are planned for the future.
ENJ wallet withdrawals
Purchasing Reewardio loot crates does not require a cryptocurrency wallet. And in the future, the developer plans to encourage partners to provide Paypal and credit cards as primary purchase options.
However, users cannot sell ENJ and NFT rewards without withdrawing them to a wallet.
From within the Reeward.io store, users can link an ENJ wallet and withdraw their items into their own possession.
How to use the Reeward.io Commerce Store
Most of the current features of the Reewardio platform are only available from the Reeward.io Commerce Store. Here is a detailed breakdown of how to use the store.
Understanding loot crates, tokens, and Rio
The primary feature of Reewardio right now is that it provides users with the opportunity to purchase loot crates. These crates contain subscription tokens.
These tokens don’t do anything right now. But in the future, they will be used to purchase Reewardio subscriptions. Clients will be able to use these subscriptions to create their own promotions.
The developer plans to release the full version of the product in Q2, 2020. At that time, there will be three subscription tiers: Essential Legacy ($65), Premiere Legacy ($295), and Ultimate Legacy ($995).
Each crate has a 90% chance to award a $65 token, a 9% chance to award a $295 token, and a 1% chance to award a $995 token.
The price for a loot crate is $45.
It is important to note that the face value of a token doesn’t necessarily reflect its value in the marketplace. For example, a $65 token may only be worth $40. The developer has not promised to pay the face value of each token. It has only promised to charge clients a price equivalent to its face value for access to the tier of service it represents.
We did some research on ENJ Marketplace to see what prices these tokens were selling for. We found that the more rare $295 and $995 tokens are currently listed for significantly more than the price of a crate.
But these prices can change. So if you are considering buying crates just to sell the tokens, you might want to check the prices on ENJ Marketplace before making a decision.
In addition to a token, every crate also contains 500 Rio. Rio is a centralized currency that can be used on the Reeward.io Store to play games, craft discounts, and perform other actions.
If a user is only interested in Rio, he can buy a crate and sell the token, keeping the Rio for himself. Or if he only wants the token, he can purchase it in the ENJ Marketplace.
Buying a crate
If you want to acquire Rio, you’ll need to purchase a crate. Here is how to do so.
Navigate to the official Reewardio store.
Click one of the three buy a crate buttons at the bottom. It doesn’t matter which of the buttons you click. They all produce the same odds.
Click checkout. Paypal is currently the only payment option.
Fill out the fields provided, and click register.
You should see a message that says “successfully registered.” Click the link that says click here to continue.
Complete the transaction from within Paypal.
When the transaction is finished, you’ll receive the message “Congratulations! Your items have been sent to your reeward.io inventory.” Click reeward.io inventory to see your items.
Linking an Enjin wallet
If you want to sell your token, you’ll need to link your Enjin wallet and transfer it from your reeward.io inventory to your wallet. To do this, click My Enjin Wallet, and follow the instructions.
For more information about Enjin Coin, read our full guide.
ENJ Hunt
If you want to spend your Rio to spin the ENJ Hunt Wheel, just click play for 500 below the image of a game controller. You’ll need all six ENJ Hunt tokens to craft the 1,000 ENJ Ingot.
Crafting discounts
To craft a discount, click go to crafting. It costs 100 Rio for each 25% off discount on your next loot crate.
Click craft next to the discount image.
Click redeem discount to copy the discount code.
Reewardio Platform Roadmap
The Reewardio team plans to roll out the full features of the platform over time. Here is the roadmap for the platform
First quarter, 2020
Quests and Bounties – Tasks that can be completed to earn Rio
Integration with Forgotten Artifacts – This may include discounts for frequent players
Asset and Quest SDK – Will allow any developer to create quests to earn rewards for other Reewardio Universe games
Multiverse quests – Quests that require a player to complete tasks across multiple Reewardio games
Second quarter, 2020
In-app minting – Developers will be able to mint items from within the Reewardio Commerce Store
Reeward.io builder – A further extension of the quest SDK, will allow allow developers to build apps from within the Commerce Store
WordPress extension (subject to fundraising) – Will allow developers to integrate their WordPress websites with the Reewardio system. This will only be developed if enough funds are raised from loot crate sales.
Third quarter, 2020 (subject to fundraising)
The following features will be available in Q3, 2020 if enough funds are raised from loot crate sales.
Mobile app – Users will be able to redeem rewards from their mobile devices
Ecommerce integrations – Lets vendors provide rewards from within Shopify stores, Weebly stores, etc.
Fourth quarter, 2020 (subject to fundraising)
In the fourth quarter of 2020, Reewardio plans to implement social media integrations. This will allow vendors to offer rewards from within their Facebook, Twitter, and other social media pages.
This feature is subject to fundraising from loot crate sales.
Reewardio conclusion
Reewardio has come a long way from where it was when we first reported on it. Back then, it was simply a rewards program for Kriptomat exchange.
It is now being expanded to allow any Ecommerce vendor to provide rewards.
Video game developers and players are still likely to be the largest audience for this platform in the beginning. But over time, other types of online merchants may begin using the platform.
This is good news for blockchain gaming – because it may introduce people to the niche who otherwise wouldn’t know about it.
We’ll keep an eye on Rewardio as it develops further. And when major features are released, we’ll report on it here.
What do you think of a blockchain-backed rewards platform? Would you be more likely to buy a product if it provided items that could be used in your favorite games?
Let us know what you think in the comments below.
