theCHIVE x Acala Network Integration
Venkman and Acala’s partnership will begin with a loyalty and NFT platform built for Venkman’s first client, theCHIVE, and its 10 million monthly active users based primarily in the United States.
theCHIVE has a robust e-commerce business, having generated over $400 million in revenue to date. Venkman and Acala will continue rolling out e-commerce engagement solutions to additional clients and brands over the coming months.
Venkman is coming off its recently announced launch, with the goal of rethinking how brands evolve outdated loyalty points models and drive consumer retention. The startup was co-founded by executives of theCHIVE, the online community known for irreverent content and merchandise partnerships with celebrities such as Bill Murray, Chris Farley, and John Daly.
Enterprise rewards programs, Venkman’s focus, have historically been deliberately opaque, deterring redemptions and undermining consumer engagement. Using emerging blockchain and NFT technologies, Project Venkman will provide businesses with branded community crypto tokens and treasury management tools to design incentive programs that are transparent and deliver users tangible rewards for their purchases. Project Venkman will also offer clients the ability to create digital collectable NFTs to integrate into community engagement programs.
“We’re pleased to partner with Acala and work across the Polkadot ecosystem to bring a new class of rewards to brands and communities around the world,” said Gavin Gillas, CEO of Project Venkman. “DeFi brings so many opportunities for consumers to own their loyalty rewards and we’re proud to collaborate with Acala to make this happen for millions of users in the coming months.”
ABOUT PROJECT VENKMAN
Project Venkman is an e-commerce engagement solutions platform helping brands reimagine how they acquire and retain customers. Leveraging emerging blockchain and NFT technologies, Project Venkman brings transparency to the historically opaque ecosystem of consumer rewards programs and enables brands to drive customer acquisition and retention.
ABOUT ACALA
Acala is an Ethereum-compatible smart contract platform optimized for DeFi and scaling DApps to Polkadot. The blockchain has built-in DeFi protocols for application developers to leverage, including a decentralized stablecoin (Acala Dollar — aUSD), a trustless staking derivatives (liquid DOT — LDOT), and a decentralized exchange.
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