NEW YORK, Dec. 10, 2017 /PRNewswire/ -- Appsolutely, the leading blockchain loyalty system and creator of LoyalCoin, today announced the launch of the Token Generation Event (TGE) for its LoyalCoin (LYL) digital token. LoyalCoin is the token that powers the blockchain-backed LoyalPlatform, which allows users to redeem points from any participating brand, anytime, anywhere.
"We're excited to be taking a huge step forward in executing our vision of a reshaped loyalty economy," said Patrick Palacios, CEO and founder of Appsolutely, Inc. "With the introduction of LYL, we formally start our work to build the stronger relationships between consumers and brands promised by the LoyalPlatform."
Since launching its presale on November 11, Appsolutely has made 4.75 billion LYL available to the public for purchase. An initial supply of 500 million tokens sold out three days before the scheduled completion of the presale. A total of 997 backers worldwide raised the equivalent of US$3 million through their participation in the LYL presale.
The tokens will enable consumers to redeem or purchase goods and services from LoyalPlatform merchants and retailers, and exchange LYL with one another. Through their TGE fundraising, Appsolutely is investing in the resources necessary to scale LoyalPlatform, research and development efforts to increase functionalities of LoyalCoin and other related services, integrate more retail and merchant partners into the LoyalCoalition, and move forward with rollout of the LoyalWallet app in both North America and Southeast Asia in early 2018.
Appsolutely's Loyalty Economy
Drawing on its extensive experience in digital loyalty, e-commerce services and an impressive portfolio of major retail clients, Appsolutely envisions blockchain-enabled services as the next-generation solution to customer loyalty. Inspired by the growing trend of omnichannel loyalty economies among businesses, Appsolutely used their expertise to develop a robust system that enables companies to better engage customers and elevate their experience.
LoyalPlatform enables companies to effectively adopt an omnichannel loyalty program and turn a deficient loyalty system into a more secure and value-based rewards program. LoyalPlatform is composed of a digital wallet, a series of white label apps, and a coalition of supporting merchants and vendors.
With this new loyalty ecosystem, consumers are able to earn and spend LoyalCoin whenever and wherever they prefer, creating an open platform where the consumer decides exactly how they'd like to use the rewards they've earned. LYL also helps retailers by opening new revenue streams from surplus economic activity, where points earned can be used to trade products and services with other merchant partners.
The LoyalPlatform is powered by the NEM Blockchain Technology network, a powerful blockchain system that can process approximately 4000 transactions per second, enabling LYL to be exchanged at the high speed that international e-commerce demands.
For more information on how to participate in the LYL token sale, visit https://loyalcoin.io/.
For further information on LoyalPlatform the white paper can be downloaded at https://drive.google.com/file/d/1eLVtfqfrWMsK2xeBfrm348ddqOlOWLF7/view.
A video overview of LoyalPlatform can be found at https://www.youtube.com/watch?v=jh4xrozFSL4
Appsolutely is the creator of the blockchain-backed Loyalty Economy under the LoyalCoin solutions suite, enabling brands and consumers to connect and transact more effectively via customer loyalty programs. Appsolutely has been a leader in loyalty apps since 2013. It provides an award-winning suite of offerings that enable brands to increase their impact with customers and empower them with rewards that are easy to own, manage and redeem in a scalable environment. Appsolutely is a global company that partners with brands in every region of the world to achieve maximum return from their loyalty programs. Follow @LoyalCoin on Twitter, visit loyalcoin.io and read the the whitepaper on how the LoyalCoin (LYL) will change loyalty programs as we know them.
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