‘Loyalty Networks’ are here🍾

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THXprotocol

5 min readFeb 13, 2023

For you following us closely you might have noticed that late September ’22 we joined the Techstars and ABN AMRO Future of Finance Accelerator.

Out of ~350 applications, 10 companies were selected to create the future architecture for the financial industry in the digital age. Naturally, we were honored to be part of this exceptional group of unstoppable founders.

What followed was an intense 3-month program where every aspect of our our product, pitch and go-to-market strategy was scrutinized. This journey climaxed in ‘Demo Day’ which was an amazing celebration of entrepreneurship.

You can watch our contribution to Demo Day live on stage and also take a peek at the studio version. Now that the confetti has settled, we’re both sad that the program has come to an end, while at the same time very excited about what is coming next..! 🥲

Demo Day (Studio Version): https://youtu.be/T4Fq9GF2a1o

Reinventing loyalty at THX Network

THX Network launched as tooling to allow developers to easily launch and distribute tokens and NFTs. And while this worked great from a technical perspective, based on early usage we soon learned that developers struggled with designing tokenomics and token utility. Ultimately most customers failed to launch successfully due to this.

So it was back to the drawing board! At Techstars we spoke to dozens of potential customers in various verticals and researched their problems, needs and validated certain solutions.

We soon discovered that most organizations have trouble engaging and retaining their audience, especially when the younger generations Y and Z are involved.

So we’re not looking at a problem that developers are having, no, we’re solving a problem that marketers and growth hackers experience in reaching their audience, building a community and in the end creating a richer customer journey.

At the same time, research by McKinsey & Company shows that loyalty programs centered around community building and partnerships are up to 100% more effective in increasing purchasing frequency and engagement in general.

Source: Preparing for loyalty’s next frontier: Ecosystems, March 5, 2020

Now, we started to connect the dots! Loyalty programs and points have been around forever. And what are points other than tokens? And if tokens and NFTs excel at anything then it’s community building and incentives.

In our interview with potential customers, mostly senior or even C-level business leaders, we learned various issues with existing loyalty programs that our blockchain based technology can solve in better, and innovative ways.

At that moment we decided to pivot our solution to offer tokenized loyalty to marketers and growth hackers.

Points, Perks and Partnerships

So how does tokenized loyalty actually look? First, we gave our innovation a name; loyalty networks. This emphasizes that this is not about creating yet another transactional relationship with your customers or members. It’s all about growing a community, and cross brand and cross organizational partnerships. Only this leads to the new and exciting experiences the digital native audiences are looking for!

And instead of keeping all the options open to build your own tokenized solution, we’re now 100% focused to make launching your loyalty network as easy as 1–2–3;

You embed a small piece of code, and you immediately see a cool gift box in the corner of your website or app.
You launch your loyalty points and perks such as NFT based memberships,
You’re off to engage your community and start building your community and partnerships.

Blockchain based tokens brings an unique advantage here; you can access, share and trade those tokenized perks anywhere.

Making token powered loyalty as easy as 1–2–3, source: THX Network pitch deck.

New: Public roadmap 🗺️

To further involve our customer and community in the development of our loyalty network offering, our roadmap is now public! Check it out on roadmap.thx.network/roadmap. Even better, you can upvote your favourite features using roadmap.thx.network/b/roadmap-2023.

View the public roadmap on Roadmap | THX Network

Next up in our series about loyalty networks is a detailed article on how to install and get up and running using the loyalty widget. So stay tuned, the best is still to come!

About THX Network 🤜🤛

When receiving something nice, the logical reply is “thanks”!

Our team believes that in ten years’ time, having digital assets such as NFTs will be just as common as having a website. We’re making this future possible for everyone by offering you token-powered marketing solutions that can be embedded in 30 minutes or less.