Ovato Is Changing The Rewards & Loyalty Industry By Putting Consumers and Merchants On The Blockchain

Blockchain technology and digital currencies may still be at the early phase of mass adoption, with many industries still resisting the pull toward decentralization. The $65B loyalty and rewards industry is another sector that has been slow to adapt to the changes of digital marketing and tech-savvy consumerism.

Ovato is taking on the global shopping, rewards, and loyalty industry with their very own consumer and merchant network based on a decentralized blockchain and Ovato (OVT) utility token.

The creative minds at Ovato have developed a network that will better reward customers by putting loyalty rewards and incentives for their shopping experience on the blockchain.

Ovato’s network will allow customers to receive their loyalty rewards instantly, and merchants will eliminate wasteful spending by reducing losses from unclaimed and voided rewards.

Ovato is using the blockchain, digital currency, and smart contracts to make shopping rewarding — for consumers, advertisers, and merchants

The overall consumer industry has been turned upside down with the advent of new digital channels that have changed the way people consume content and purchase retail goods.

Now more than ever, consumers are drawn to social media and other digital platforms for information and goods that are relevant to their interests. Ovato is capitalizing on these developments by using blockchain technology to both rewards consumers for shopping and also help merchants better connect with customers.

Ovato plans to use the decentralized ledger, the blockchain, to record transactions between consumers and merchants. Using smart contracts, consumers are now instantly and more effectively rewarded for shopping within a connected ecosystem of merchants across the globe.

In addition to using the blockchain and smart contracts, Ovato is also featuring the Ovato token (OVT) as digital rewards token that is distributed to customers, social media influencers, and merchants for their purchases, rebates, referrals, social shares, and more.

Rewarding Consumers For More Than Just Shopping

Billions of dollars are wasted each year in unclaimed rewards — hurting both customers and merchants. Part of this problem stems from the fractured nature of the current rewards industry.

Each store, company, and brand carry their own exclusive rewards program — meaning rewards earned for one store cannot be used for purchases in a different store.

Ovato is building a global network of merchants that will use Ovato’s blockchain to record and reward customers using smart contracts. Customers will be rewarded via a universal rewards token — Ovato (OVT) — which can be redeemed and exchanged using Ovato’s Bitovation network at any store or merchant in the greater Ovato shopping network.

Not only is Ovato planning to reward consumers for their purchases, consumers are also rewarded for their attention and activities online. For example, Ovato has plans to reward consumers for sharing and referring digital content from merchants. In addition to rewarding consumers for sharing marketing content, Ovato is also rewarding social media influencers and bloggers using a similar model.

Helping Merchants Connect With More Customers Using Blockchain

Ovato is more than just a consumer-facing platform, it is also a network that benefits merchants by helping them connect to customers, deliver better rewards to their loyal customers, and also reduce wasteful spending.

Last year, the rewards and loyalty industry grew to $65B — and is projected to grow to over $100B by the year 2020. Merchants and brands that most effectively use rewards and loyalty stand to gain the most in the years ahead.

Merchants on the Ovato network will have greater access to data that records the behaviors and transactions of consumers — an incredible advantage to better understanding the interests and needs of customers. This is critical for targeting and retargeting relevant audiences across multiple social channels.

Using this data, merchants can better track and reward their loyal customers with rewards that are granted using smart contracts. Using blockchain and smart contracts, customers and merchants can now transact rewards instantly — making the shopping and rewards experience seamless.

Ovato is also developing a platform for specifically for rewarding social media influencers — a critical channel for reaching the 2.8 billion tech-savvy consumers that use social media on a daily basis.

The need for clever and meaningful digital marketing through relevant social channels is ever more apparent using Ovato’s market research:

• 74% of internet users discover products and services on social networks
• 49% of people rely on influencer opinions when making a buying a decision
• 59% of companies plan to increase budgets for influencer marketing in 2018
• 2.88 billion consumers use social media on a daily basis

If the Ovato team continues to deliver on their roadmap, then both consumers and merchants have significant potential to save and earn more from their spending in shopping and selling online via the Ovato network.

The Ovato Token and Public Sale

The Ovato token is an ERC20 utility token that will be used for actions within the Ovato ecosystem. Here are some of the use-cases of the Ovato (OVT) token:

• Digital currency for transactions between consumers and Ovato merchants
• Rewards token distributed to consumers for shopping and social interactions
• Creation and self-promotion campaigns for influencers
• Donations for streamers and bloggers
• Purchasing of tools for channel development
• Payment method for marketing contracts
• Purchase of marketing content for brands and merchants

If you are interested in Ovato’s potential to disrupt and change the way consumers and merchants interact with one another using blockchain technology, you can get involved in Ovato’s token pre-sale.

The first presale began March 7th and ends March 26th (or until the hard cap of 5M OVT is reached). Early investors still have time to participate.

Here are some details about the Ovato (OVT) pre-sale:

• Price: $0.95 = 1 OVT
• First Presale Hardcap = 5M OVT
• Min. Contribution = 1000 OVT
• Accepted cryptocurrencies: BTC, ETH, LTC, DASH

The next token sale begins on March 27th, and OVT will be sold at a higher price at that time.

As always, do your own diligence and research before investing. If you want to learn more about Ovato, check out the following links below.

Ovato Homepage: https://www.ovato.com/

White Paper: https://www.ovato.com/#wp

Token Sale: https://www.ovato.com/#ico

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.