SAN FRANCISCO, Aug. 25, 2021 (GLOBE NEWSWIRE) — RocketFuel Blockchain, Inc. (OTC: RKFL), a global provider of crypto payment solutions, today announced plans to issue its own crypto token through an Initial Exchange Offering (IEO) via a leading cryptocurrency exchange. RocketFuel is targeting a $15 million raise in the IEO from the issuance.
The coin will be used for a token-based loyalty program aimed at incentivizing shoppers to make purchases using cryptocurrencies or any other payment method.
The tokens will allow RocketFuel customers to redeem, unlock and purchase additional services and products like airline upgrades, hotel bookings, concert shows, sports events, etc. Customers can also earn tokens when they make purchases on RocketFuel’s payment ecosystem.
RocketFuel’s blockchain based loyalty program will be designed to address the growing loyalty fraud in the travel and other industries. The global pandemic hasn’t slowed the steep rise of loyalty fraud, but quite the opposite. As frequent flyer balances are left untouched by members, they become lucrative targets for fraudsters to swoop in and steal them without being noticed. According to a Morder Intelligence report, “the global loyalty management market was valued at US$4B in 2020 and expected to reach US$14B by 2026.” RocketFuel believes that its blockchain-based loyalty token will be virtually impossible to hack.
“We are very excited to announce our new token and loyalty program, which will benefit merchants and shoppers and will unlock various rewards within our platform. This will lead to more transactions and greater adoption of crypto which will ultimately benefit the entire crypto payment ecosystem and the people who support it,” said Peter Jensen, CEO of RocketFuel. “In addition, the funds acquired during the token distribution will be used to further fuel the rapid expansion of RocketFuel’s market share, product development, and marketing efforts.”
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