Even a small adoption of the reward token can be used to finance environmental initiatives and up to $ 300 million to fund clubs that benefit the community.
In a small coastal town north of Brisbane, Queensland, 20 members of the Cool Surf Club took part in the initial test of the Earth Point system, the crypto rewards platform of the Australian company Rewards 4 Earth.
Doug Flockhardt, former CEO of Clubs Queensland, told Cointelegraph how the state’s community club organization aims to integrate the organization into more than 1,000 community clubs across Australia.
“The National Rugby League (NRL), the best rival of the professional rugby league, is” very excited “about the idea, and it” confirms the potential of the system, “Flockhardt said. He added that he has also expressed interest in the Australian Football League (AFL), Australia’s best football tournament.
Koolam Surf Club is a small community surf club that is part of a declining business. He hopes the crypto reward platform will help the planet and allow its members and club to benefit from each other.
Rewards4Earth urges users to create a wallet on the app and attach it to their payment card to use to receive items from participating retailers. Incentives for users are cashback with Earth Points cryptocurrency based on the percentage of money they spend. Users can nominate their local club or nonprofit for the same amount of rewards.
These are still early days as only 20 members have been selected to test the source of the opinion. “Of the 20 people who used the app in the first fifteen days, $ 106 was created as a return fee to the club before any business was registered in that area,” he said. “It simply came to our notice then. Use the app to shop at their local supermarket and earn revenue for the club.
Flockhardt demonstrates that even a small increase in the adoption of the Earthpoint system by its 14,000 members will significantly increase its revenue.
Estimates suggest that if only 1,000 of their members name the club as their chosen beneficiary, their daily purchases will bring the club $ 150,000 a year in revenue.
When companies cover their environmental, social and governance (ESG) responsibilities, they are encouraged to join by accessing the free marketing tools within the site. Like other cryptocurrencies, they may charge Earth Points that can be converted to Fiat.
The Earth Point system differs from others in that members and clubs generally only benefit from reward systems when customers are on the club grounds. Now, the rewards are “more global and community-centric”.
They can shop with a participating retailer in New York and send the money they bought to a club in Australia, which also helps heal the planet.
Rewards 4 Earth uses the prize money to fund various environmental causes, such as cleaning up plastic and oceans, conserving endangered species, reforestation and environmental campaigns.
With adequate adoption, Flockhard sees the foundation well in contributing to its mission.
With 13.2 million Australians being members of clubs, with only 15% or 2 million of them involved, conservatively this could bring clubs $ 3 million in passive revenue per year, and $ 300 million to the Rewards4Earth Foundation.
Adoption is equivalent to almost half of Australia’s population, and 50% of club members are 45 or older, according to Flockhart. An important lesson from the early tracks was that “25-40 year olds are easier to integrate”, but older populations are “harder to integrate”.
“We will provide the clubs with the right resources so they can provide an introduction to their members,” he said. “Clubs have a direct interest in doing this by being beneficiaries. I think this will speed up the adoption rather than waiting for it to happen.
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