ICO review of the Momentum token: “Lost loyalty points will belong to the past with Momentum”
Amstelveen-based digital marketing company Mobile Bridge is launching the first blockchain platform worldwide that will enable companies to reward their customers much better and more transparently. Now half of the world’s loyalty points are lost. In the US alone, USD 100 million in loyalty points is lost every year. The arrival of the Momentum token makes this a thing of the past. Bitcoin Magazine NL asked two ICO experts* for their opinion on Mobile Bridge and their Momentum token.
ICO review: Momentum
Jorgen Welsink is the founder of the Cryptocurrency Academy and has analysed around 150 ICOs over the past period. He is charmed by the proposition of the Momentum token.
Welsink: “They come up with a solution to a real problem, because a lot of loyalty points are lost. This is despite the fact that companies are investing heavily in loyalty programmes and customers are now missing out on that extra benefit. If I can upgrade my flight for free, it feels good. Companies miss that upsell moment too much. I also find the interchangeability of the various tokens within the Momentum wallet strong. I can convert my tokens of retailer 1 into tokens of retailer 2. Finally, few ICOs have such an experienced team behind them.”
Jan-Robert Schutte, founder and CEO of the CryptoAcademy and advisor to various ICOs, largely endorses this view. Schutte: “I fully recognise the problem that the Momentum token solves. You collect a lot of loyalty points, but it’s not converted into real money. One of the stronger points is that they want to create more customer loyalty through gamification. If I buy a Nike training suit, I can – after playing a Pokemon game – collect a gift from the shop. These customers become brand ‘influencers’ and are rewarded with the Momentum token. Momentum gives loyalty real value.”
The challenges
A large proportion of ICOs fail due to mismanagement, premature market penetration or too few use cases, among other things.
Welsink: “The challenge for Mobile Bridge is to get their existing customers convinced of this proposition. Not all of their customers’ branches are connected to the Mobile Bridge or Momentum network yet. There is still a great deal of potential there. In general, I see that the emphasis is increasingly on private sale rather than public ICO. Unfortunately, with Mobile Bridge overlooks a bit the idea that small investors can buy in the presale”.
Schutte: “I also see that they have to convince their existing customers to participate. Secondly, they will also have to convince investors of their ICO. However, I can see enough strengths such as the interchangeability of the tokens. You can use the Momentum token as a kind of gateway to change Praxis tokens into Burger King tokens, for example. Mobile Bridge should especially emphasize the advantages and as soon as they get traction in the market, they have gold in our hands.”
Lower barrier for investors
Kees de Vos, CEO of MobileBridge; “The feedback on our proposition has been overwhelming at times, you can really sense we’ve hit a nerve with our proposition with both consumers and the companies that use them. Although a lot of ICOs are struggling in this market, we have seen great demand for both our token and our new product, globally, and are now well past our soft-cap – a fantastic milestone! This allows us to prepare in the best possible way for our public sale, which allows everyone to buy in at a minimum €100. This is important for us, as a wide distribution of the token will help its success. It also allows us to start thinking about the time post-ICO; developing our product and ramping up our marketing and sales to ensure this is the global success we believe it will be!”
Welsink concludes: “The difference is made whether one can really do business or not. Anyone can burn up to 10 million dollars, it’s all about how to build a business successfully, and Mobile Bridge and its experienced team will have an advantage.”
Video-interview Kees de Vos, CEO Mobile Bridge
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Disclaimer: the above article is part of a content partnership between Bitcoin Magazine NL and Mobile Bridge. Both of the experts interviewed currently have no interest in the Momentum token.
