At qiibee we unlock the purchasing power of the billion $ rewards economy by making all rewards exchangeable in one decentralized loyalty ecosystem.
Tell us about yourself?
We are two brothers that co-founded qiibee, and since we were kids we were always into gaming and its mechanics, like earning and selling rewards or leveling up to new tiers. So we used our passion and know-how to connect gaming mechanics with marketing and saw that loyalty programs are the perfect tool to engage and build a relationship with customers in the future. With the rise of blockchain technology throughout our journey, we recognized the huge potential of this technology for the loyalty market. This is why we decided to combine this knowledge to create a global decentralized loyalty ecosystem that unlocks the billion-dollar rewards economy.
If you could go back in time a year or two, what piece of advice would you give yourself?
Everything happens for a reason. Just give your best every day and believe that the dots will connect.
What problem does your business solve?
By connecting loyalty programs through our B2B rewards marketplace we help businesses to solve the following problems:
1) 95% of loyalty program members inactive 30 days after registering (never get a reward and lose interest)
2) 78% of customers would switch to a brand with a more attractive loyalty program
3) 15% to 20% more revenues for customers that spend their points
What is the inspiration behind your business?
The loyalty industry serves billions of customers by providing additional value in the customer experience. Since most loyalty programs are only focused on their own brand, they only offer consumers a limited amount of options to redeem their rewards. Subsequently, customers quickly lose interest in the loyalty program and leave their rewards unused. This leads to $500 bn worth of rewards being locked in billions of member accounts.
Our inspiration for qiibee was to unlock the huge purchasing power behind the global rewards industry. We do this by empowering brands to enable their customers to exchange and maximize the value of their rewards. As a result, brands boost their revenues by benefitting from increased customer engagement, higher customer spending, and frequency.
What is your magic sauce?
Extraordinary convenience. Integrate once into our marketplace and connect with as many loyalty programs as you want.
Highest security. By using our blockchain-based infrastructure we can offer a decentralized points bank securing all your loyalty transactions and rewards.
Largest rewards selection. Access the largest selection of digital rewards currencies, crypto, and NFTs through our blockchain-based rewards marketplace.
What is the plan for the next 5 years? What do you want to achieve?
Our plan in the next 5 years is to unlock as much purchasing power as possible through the exchange of rewards and distribute billions of dollars back to consumers and businesses.
What is the biggest challenge you’ve faced so far?
The biggest challenge as we see in all blockchain/crypto projects is to bridge the understanding and fill the knowledge gap that currently exists in the market. Anyone that is in the industry should support the market by educating the relevant stakeholders in it. It is our responsibility to make the information more easily accessible and understandable. This is the only way how we all can will bring the blockchain, crypto, NFTs, and the metaverse to the mainstream.
How do people get involved/buy into your vision?
There are many ways to get involved, you can check out our website, www.qiibee.com, is the global standard for loyalty on the blockchain, or write us an email using [email protected], otherwise, you can also connect with us on all our social media channels.