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Red Bull and Swarovski Are Testing Cryptocurrency Tokens in Exchange for Engagement

Red Bull and Swarovski Giving out Cryptocurrency Tokens in Exchange of the User’s Time

Reading Time: 2 minutes by on August 9, 2018 Altcoins, Entertainment, News, Platform
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Cryptocurrency tokens are a new way of compensating customers for their online engagement. Customers can now earn crypto tokens by taking part in online surveys conducted by Red Bull and Swarovski. The brands have partnered with Swelly, which is a multi-platform chatbot for seeking feedback from the community that rewards participants with Kin tokens.

Online Surveys Finally Making Sense

When a question pops up about some product or place, consumers tend to shy away from answering the questions. One question leads to another, and users typically end up wasting their time without any return. However, Red Bull and Swarovski are trying to provide their loyal customers the actual value of their time by paying them cryptocurrency tokens if they take part in their online surveys.

User experiences are of the utmost importance these days. To improve products or services, it is imperative that a brand understands its customers and knows what their customers are expecting and experiencing.

Enter Kik and Swelly

Kik is a Canadian messaging app that uses its cryptocurrency Kin. The instant messaging mobile app works flawlessly across different platforms, and in July, Kin launched its Android app, KinIt, for its users. The KinIt app can be used as a crypto wallet that will help users earn the crypto token, Kin, when they connect with brands and other platforms through surveys, videos, or quizzes.

Swelly is a polling Chabot that boasts a user base of eight million who have answered over 200 million questions to date. Swelly was considering creating a crypto token, but when they came across Kin, they thought why not try it rather than starting from scratch. According to Swelly CEO Peter Buchroithner, the company was not into giving rewards from the very beginning. They started the practice of compensating the customer’s time only when they saw the scope of using cryptocurrency as rewards.

Acquiring Kin

So, how does this whole thing work? It is simple. Users download the KinIt app and then complete tasks such as watching advertisements or completing surveys. For instance, Swelly asks users about designs, logos, and social media, and if a user answers all the ten questions, the user gets Kin tokens as a reward.

Red Bull is one of the brands that is using Swelly to ask their customers about what image they would prefer and to compensate their customers for the time they spend answering their questions by giving out Kin. Apart from Red Bull, Kik, Swarovski, Facebook Messenger, and now the newly launched KinIt also use the Swelly platform to know their customers better. TrueX, 21st Century Fox’s ad-tech division, is also rewarding its users with Kin to watch its network of advertisers for 30 seconds.

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