SynchroLife “Eat To Earn” Web3 Restaurant Review App Officially Launches After Four Year Beta, Users Earn SynchroLife’s Native Token SYC for Posting Restaurant Reviews
Rewarding user content and value with digital assets!
August 2, 2022 —Tokyo, Japan
GINKAN Inc., the managing company of the token economy based social restaurant review service SynchroLife, has announced the official release of their “Eat To Earn” model that rewards SYC (SynchroLife’s native crypto token) to users for their valuable restaurant reviews. SynchroLife is creating a global platform that grows autonomously as users give back to the platform and are rewarded for their contributions. The SYC (SynchroCoin) project website has also been updated to celebrate the official release.
SYC (SynchroCoin) Project Website: https://www.synchrolife.org/
What Makes SynchroLIfe’s “Eat To Earn” Model Unique
- Users earn score-based SYC (SynchroCoin) token rewards while dining out and posting restaurant reviews. (*1)
- By connecting a MetaMask wallet to their SynchroLife wallet, users can receive their review rewards in SynchroLife’s native token SYC (SynchroCoin).
- SYC uses Polygon, a side chain of the Ethereum Blockchain which allows for high transaction speeds and low gas costs. SYC is distributed as Polygon SYC.
- Users earn hybrid incentives — points that can be used as points or exchanged for crypto assets.
- Like SynchroPoints, SYC (SynchroCoin) will be usable at over 570,000 locations across 27 brands such as convenience stores and coffee shops in the near future. (*2)
- Users can also earn Bitcoin, Ethereum, or other crypto assets cashback when dining at any of SynchroLife’s over 1,800 partner restaurants. (*3)
How SynchroLife Works & Future Vision
GINKAN revealed the SYC Project in July 2017, and has been running as the world’s first (*4) “Eat To Earn” service for over four years in beta since August 2018. Food loving users earn token rewards based on their contributions to the SynchroLife platform by leaving quality reviews for great restaurants.
During the beta, users earned points that would be exchangeable at a 1-to-1 rate with SYC in the future, and a token economy was built with these points being usable at over 570,000 businesses across Japan. With the new official release, users can connect a MetaMask wallet and redeem their point rewards for SYC. Users can continue to keep point rewards and use them as is or redeem them for SYC, creating a hybrid model that attracts a wide variety of users.
Reviews help other users discover new restaurants, meaning that restaurants are attracting new customers not based on marketing and advertising but based on the true value of their restaurant. SynchroLife has created a unique token economy that connects consumers and restaurants.
In past Web2 restaurant discovery services, platforms took all the value users created for themselves, but with SynchroLife’s Web3 service the value of user contents and spending is made clear and users earn digital assets for the value they contribute.
SynchroLife also recently announced Bitcoin and Ethereum rewards for users (*3) and in the future users will be able to receive these rewards in a MetaMask wallet or other wallet of their choice. SynchroLife plans to add more Ethereum, Polygon, and Binance Smart Chain based cryptocurrency rewards to the reward lineup soon.
SynchroLife will be focusing on Web3 in the future and aims to become a global autonomous food platform.
(*2) Learn more: Points earned dining out with SynchroLife can now be used at over 57,000 locations! Doutor Coffee, Komeda Coffee, KFC and more famous brands join the e-gift lineup!
(*3) Learn more: Eat and Earn Crypto! SynchroLife Partners with Cryptocurrency Exchange Company Mercury to Reward Diners with Cryptocurrency
SynchroLife is a global restaurant discovery social media service (Web2) and the world’s first* Eat to Earn (Web3) token economy based restaurant social review platform. Users earn score-based token rewards while dining out and posting restaurant reviews. Users also earn 1% to 20% of their dining bill cashback in Bitcoin, Ethereum, or other cryptocurrencies when dining out at any of SynchroLife’s 1,800 partner restaurants. SynchroLife allows consumers to earn crypto assets through their daily spending.
SynchroLife started in 2018 as the world’s first* “Eat to Earn’’ service and currently has over 400,000 restaurant reviews. SynchroLife uses AI to analyze reviews to give personalized recommendations based on each user’s likes and dislikes and quickly guide users to great restaurants. Within the SynchroWallet users can manage the points they earn cashback from dining at partner restaurants, along with digital offers and membership cards. SynchroLife makes it fun to be a regular customer.
SynchroLife is currently available in over 155 countries and four languages (English, Japanese, Chinese, Korean). As SynchroLife grows it shares its value with users who have contributed through restaurant reviews and other actions, and it aims to be Asia’s top autonomous growing social restaurant review platform.
- SYC (SynchroLife) Project Site
- SynchroLife Official Website
- SynchroLife Partner Website
(*1) Review rewards are given in the form of loyalty points exchangeable 1-to-1 for SYC. SynchroPoints are usable at a rate of 1 Point = 1 Yen inside the app.
(*4) SynchroLife is the world’s first service that “uses blockchain for a restaurant review reward system” according to our research in August 2017.
* SYC is issued by SynchroLife Limited HK.
* SynchroLife and SynchroCoin are trademarks of GINKAN, Inc.
- Company Name: GINKAN, Inc.
- Address: Shin-Yurakucho Building 11F, 1–12–1, Yurakucho, Chiyoda-ku, Tokyo, 100–0006
- Representative: CEO Tomochika Kamiya
- Established: December 2015
- Website: http://ginkan.jp/index_en.html
SynchroLife Mobile App
iPhone (For iPhone 5s and up, iOS 11.2 and up)
Android (For Android 6.0 and up)
・Official Website: https://www.synchrolife.io
・SynchroCoin Project Website: https://synchrolife.org/
・SynchroCoin Project Blog: https://medium.com/synchrocoin
・Partner Restaurant Website: https://business.synchrolife.jp/
・Discord Community: https://discord.gg/gjEwDfZ4pn
Read the original press release in Japanese below:
グルメSNS「シンクロライフ」、4年間の「Eat To Earn」β版運用を経てWeb3化へ。レビュー投稿報酬をネイティブトークン「SYC」で受取可能に。
シンクロライフ「Eat 2 Earn」モデル正式版の特徴 ・美味しい飲食店開拓を楽しみ、レビュー投稿することで、グルメSNS上でのスコアに応じてユーザーにSYCトークン報酬が分配（※1）…