Dougyster
Coalition+?
We loved the idea of Coalition – and while Bundl was an attempt to explore the possibility of making Coalition work via a paid loyalty program format, we found that Coalition might have a future in Web3. While I designed the whitepaper and created a prototype, we realised a key flaw that we overlooked during our market research. Read more to find out more!
What is Coalition+
Coalition+ is a Web3 Loyalty Ecosystem for SMEs that aims to revolutionise loyalty programs and help level the playing field between small merchants and big franchises. By tokenising loyalty points as CoaCoins, Coalition+ creates a decentralized joint loyalty program which will allow consumers to earn CoaCoins at any business within the Coalition and redeem them for rewards at another, all from one app.
What problems does this it solve?
Coalition+ addresses the core concern of Coalition: How do we avoid the risk of restaurants being negatively affected in the Coalition? How do we make sure that people don't spend at one store and redeem all at another? We decided that the Coalition+ rewards program would have artificial scarcity, where each business would only have a certain number of CoaCoins to issue, and can only get more when consumers redeem at their store. This guarantees a two-way utility for both consumers and merchants. Additionally, the value of CoaCoins would grow proportionally to the number of businesses in the Coalition, so merchants/consumers who hold a portion of their CoaCoins can benefit from the growth of the economy.
Insufficient market research
Explore related verticals during market research.
We ultimately decided not to work on it because most successful rewards/loyalty programs are included in payment processors and there wasn't a need for another rewards program product. It was also pretty hard to convince merchants, as most of them are unfamiliar with crypto. Luckily, we realised pretty quickly and moved on.