[ICO watch] MobileBridge Momentum Platform
The Momentum platform is a platform that is looking to revolutionise the way brands market themselves and the way the markets keep customers loyal to their brand. What it basically does is, it takes the conventional method of rewarding customers with shopping points for loyalty and turns the points into tokens that they receive not only for shopping but referring, reviewing and watching/reading their marketing videos and content.
The platform basically is a cryptocurrency based alternative marketing platform.
How does it work?
It is essentially a platform that acts an interface between the customers and brands. The brands put up their marketing content on the platform, customers watch them, refer them and/or buy from them and win the in-house token, which is called Momentum Token. The platform also enables the brands that use it to create their own token currency if they wish. However, if they do not, they can continue to use the Momentum Token.
The MobileBridge Momentum platform basically turns the consumer into a marketing machine and the consumer gets paid every time they refer a brand, assist a fellow shopper, leaves a review, etc. The consumer will get paid in either the Momentum Token or brand specific in-house tokens.
The blockchain has 3 use-cases in this product.
- Data Storage – Using the blockchain, all user data is stored on it. Which first assures transparency as to who all are accessing the data, secondly the data is controlled and maintained by end users and lastly ensures a safe and secure environment for all parties involved.
- Personalisation- Using the data stored on the blockchain about each user, the platform also allows brands access to a target audience. This ensures that users get to see and know about brands that they are genuinely interested in, care about and whose brand tokens they will actually value.
- Payments – The third and probably the most revolutionary use case of this product is the payment. MobileBridge Momentum platform is the first platform that has incentivized customer marketing using cryptocurrency. And since the underlying principle of all cryptocurrencies is the blockchain, it plays an integral role on the platform.
All tokens that are made by brands and exchanged between brands and consumers will take place on top of the blockchain, including the in-house Momentum token. This not only acts as a ledger of accounts but the use of blockchain technology sets the Momentum platform apart.
The first sale of the Momentum tokens for friends and family of the company took place between February and 23rd of March. The first friends and family sale was then followed by a private sale that will happen until the 23rd of April.
The public sale will start on the 26th of April and will last for a month or as long as the company’s hard cap is achieved. The hard-cap set is about $51 million USD.
Today’s marketing techniques are mostly in the form of advertisements before videos, shopping points and constant text messages. And more often than not, they come at inconvenient times and brings the brands responsible more bad press than good. Which is the exact opposite effect that these very brands are aiming for. Which is why, giving back control of how a particular brand is advertised to the consumers, not only lets them decide whether or not the brands are worth it but also allows them another source of whatever little income.
The Momentum platform stands to revolutionise the way conventional marketing is done. It takes the average consumer and converts them into a marketing machine that not only gets them more customers but thanks to the incentives, keeps them loyal to the brand. The other advantage that brands will see, in the event that the platform picks up steam, is the drastic reduction in marketing budgets because they will no longer need to rely on a third party to move their products.
If the platform does pick up and has massive retail adoption, it may stand to stop these irritating conventional methods of marketing a brand and its products. And the second interesting advantage is that consumers will not have to worry about their store credits expiring because they will be in the form of utility tokens of appreciating values. No matter which way you look at this product, it comes off as a win-win situation for both the consumer and the brand itself. Overall, it is a good idea and to see it be built and enter mainstream marketing is going to be interesting to watch.