Media Shower, the media and communication company, has announced the launch of its new BMJ Reward Token, a blockchain-based reward program that offers membership rewards for subscribers of its paid newsletter, Bitcoin Market Journal (BMJ).
Paid newsletter subscribers receive 10 Reward Tokens each month, which are automatically sent to their digital wallet. Unlike other blockchain tokens, these are not speculative investments, but reward points that can be redeemed on real-world merchandise and experiences not available anywhere else.
“This is a huge step forward for the blockchain industry,” said John Hargrave, Media Shower CEO. “Our BMJ Reward Tokens are freely viewable on the Ethereum blockchain, creating a level of transparency and accountability that this industry needs. It’s the next evolution of loyalty programs.”
Unlike traditional reward programs, such as frequent flyer miles, blockchain-based reward tokens are “set free” from these closed systems, and opened up to an ecosystem of new applications and use cases. They are a “building block” that developers can pull into their own applications and platforms.
BMJ Reward Token holders can currently redeem their tokens on a wide array of custom merchandise, goods, and NFTs that have been developed exclusively for the program. Some rewards – like the NFT-Shirt #00001 – are a new hybrid of “phygital,” or physical and digital, goods.
The Reward Token program comes at no additional cost to paid newsletter subscribers of Bitcoin Market Journal. Like all reward programs, it is designed to create a more valuable experience for subscribers, keeping them engaged for the long term.
“This is a game-changer,” Hargrave said. “Everyone knows the frustration of belonging to twelve loyalty programs that don’t talk to each other. We are setting them free on the blockchain, making rewards programs interoperable, and kickstarting the next wave of growth in the blockchain industry.”