Crypto token firm aiming to raise over £1m to expand service worldwide

Crypto token loyalty program, Dewber is looking to raise upwards of $5m during its Initial Coin Offering (ICO) /Token Generation Event (TGE).

The company is aiming to expand its crypto-based customer rewards offering to a global audience.

This new tech startup wants to transform the way businesses build customer loyalty and retention.

Blockchain-based Dewber replaces traditional loyalty points with a virtual token called ‘Dewber’ (DBR). These crypto tokens, which can be earned with every purchase, are collectable and redeemable globally at any participating business.

Dewber’s founder and CEO, Raj Agrawal, said: “Through the ICO, we aim to kick start Dewber as the go-to loyalty program for SMEs.

“Traditional loyalty points are gradually becoming a thing of the past for retailers and blockchain based crypto points are the future, so it makes sense for businesses to begin incorporating Dewber crypto tokens into their loyalty ecosystem.”

Figures suggest that loyal consumers make purchases 90 per cent more regularly than casual customers and spend 60 per cent more per transaction.

Whilst loyalty programs aren’t new to big businesses, SMEs such as cafés, bars and independent retailers often find it challenging to establish customer relationships and encourage regular repeat visits.

Dewber awards customers with Dewber Rewards, which can be redeemed globally at any participating business; and Dewber replaces traditional loyalty points with its virtual crypto token, Dewber Tokens.

These crypto tokens can be collected or redeemed globally at any participating business, can be earned with every purchase, converted into fiat or virtual currencies and can be traded freely just like any other cryptocurrency.

Furthermore, Dewber Tokens are stored securely on a blockchain-backed system and the company doesn’t collect or analyse customer purchase history to perform data mining.

Raj added: “Each year, $100bn worth of loyalty points go unclaimed across the world. By providing businesses with a loyalty program that has real utility, Dewber gives customers a real reason to keep coming back.”