Imagine being able to turn your simple act of enjoying a meal into actual profit by writing reviews and sharing your experiences. And as a business owner, simply providing quality service to each customer can earn you additional rewards through their reviews. Does this “earn while you dine” and “earn while you serve” consumer ecosystem sound appealing?
POMO Network is exactly that, a Web3 ecosystem built around consumers, businesses, and token rewards. Every review contribution made by consumers earns them $POMO tokens, while businesses, acting as nodes in the network, receive $POMO tokens as extra income when customers leave their feedback.
Currently, well-known establishments such as Hutong BBQ and Ben Teppanyaki are part of the POMO Network ecosystem.
Further reading:
[Opinion] Cryptocurrency Introduces a New Incentive Model! How Does “Point Rewards” Upgrade the Membership Experience in the Web3 Era?
How does POMO Network address pain points in the consumer ecosystem?
Why do we need this? Co-founder of POMO Network, Yang Yaoyang, first points out the shortcomings of the traditional consumer ecosystem.
Addressing the “credibility” issue in reviews
In the past, business reviews often lacked authenticity because restaurants and hotels frequently offered “five-star review incentives” and other similar activities. This led to a significant portion of the reviews being insincere, and there was a lack of effective methods to evaluate users’ contributions to the ecosystem or incentivize them to further participate.
POMO Network addresses this credibility issue by providing $POMO token rewards to customers who engage in pure consumption and write reviews. They also implement a mechanism where customers can leave feedback regardless of whether it is positive or negative, ensuring that they still receive earnings.
Additionally, traditional reward systems are limited, as points can usually only be used within a single platform. However, POMO Network utilizes blockchain technology, where $POMO tokens are ERC-20 standard homogenous tokens. This means that consumers can convert their tokens into cash at any time, rather than being limited to redeeming them for prizes as “points.”
Maintaining customer relationships and sharing consumption information
For businesses, maintaining customer relationships and finding new potential customers is more important than just receiving positive reviews.
Customers who visit a store and contribute reviews leave behind a record of their spending. In addition to understanding customers’ spending habits, businesses can create “Member Tokens” for VIP customers through the POMO Network system. Member Tokens are tokens built based on the ERC721 and ERC1155 standards, serving as NFT membership cards or coupons. Customers who receive these membership cards through the system can continue to use them at the business.
Furthermore, customer spending amounts are crucial for hotels and high-end dining establishments. By analyzing customers’ spending abilities at other establishments, hotels and restaurants can identify potential high-value customers and provide them with VIP services and special offers, further enticing them to return.
Yang Yaoyang explains that in the past, brands preferred to keep their customers’ spending records to themselves and not share them with competitors. However, within the POMO Network ecosystem, participating businesses can share specific wallet consumption information. This allows restaurants and hotels to identify customers with spending power.
Therefore, when assisting businesses in conducting advertising campaigns, POMO Network can also target wallets that have spent a certain amount at specific establishments. This approach overturns the previous reliance on algorithm-based recommendation marketing.
Where is the necessity of blockchain?
At this point, you might wonder whether most of the functionalities can be handled by Web2 practices, making you question the necessity of using blockchain.
Yang Yaoyang explains that one of the most important core concepts of POMO Network is the comprehensive implementation of “Open Loyalty,” which refers to an open and open-source loyalty system.
Traditional Web2 loyalty systems usually operate within a single store and cannot achieve decentralization of the ecosystem or tokenization of social influence. In POMO Network, all businesses can share and utilize the loyalty system, forming an open and interconnected loyalty network that breaks the limitations of a single brand or store. Blockchain technology enables decentralization, enhances transparency, and builds trust.
More importantly, consumer behavior within the POMO ecosystem is transformed into incentivized tokens. These tokens reflect consumers’ social influence, giving their participation and contributions actual value.
The social influence of customers can be transformed into tangible economic value. This not only enhances customer engagement but also motivates them to actively support their favorite establishments. The implementation of “Open Loyalty” in POMO Network actually gives customers more power and flexibility to choose and support their preferred businesses.
Because of the incentivized tokens, it is essential not to overlook the key advantages of blockchain technology, such as decentralized and efficient digital asset circulation. This is crucial for POMO Network’s VIP NFTs and $POMO tokens, as they can be traded on both decentralized and centralized exchanges in the future, enhancing the flexibility and convenience of asset management and utilization within the system.
