Do you shop frequently at Walmart? Sephora? Lululemon? If yes, I've got good news for you. A new in-browser app has emerged and offers you bitcoin as you purchase goods from the platform.
Wouldn’t it be amazing to earn bitcoin while you shop? Thanks to the new browser extension called Lolli, the platform that has made your dreams is a reality.
Fewer individuals possess cryptocurrencies and assets than you might think. According to a recent study, that only a small percentage of Americans possess crypto assets and many individuals still can't figure out how to go about buying them. This is one major reason why Lolli was created.
WHAT EXACTLY IS LOLLI?
Lolli is a rewards platform that offers incentives for online shoppers by giving them 5-30% of their money back in the form of bitcoin. The Lolli platform offers users BTC when they purchase goods at participating online retailers. You can sign up for Lolli through a Chrome or Safari browser extension. Or, you can start shopping directly from Lolli’s website.
According to the team, We instantly give you bitcoin when you purchase goods from one of our many partner stores. They have also promised that when you reach a retailer's site, you will not be denied the opportunity to earn free bitcoin as payback for all your online purchases.
Various retailers offer its online shoppers some crypto rewards for their different purchases. Each retailer is given the freedom to set their “cash back” rate. For instance, If you buy a good worth $100, then you might get 0.5% back in crypto, which implies that you get $0.50 worth of BTC depending on the retailer's cashback rate. Your reward is then transferred into your Lolli wallet where you can easily access it.
So far, participating retailers include:
Barnes & Noble
Macy’s
Toms
Groupon
Hotels.com
SeatGeek and many more.
A BRIEF HISTORY OF LOLLI AND ITS CREATORS.
The company was founded by Matt Senter and Alex Adelman. Previously, Adelman had launched a platform which he called Cosmic Cart, the platform is marketed as a “universal shopping cart” that permits companies to sell their products anywhere online, without restrictions. Eventually, POPSUGAR bought the platform. With the creation of Lolli, Adelman intended to combine his love of retail with his passion for blockchain to make this platform a blockbuster.
According to TechCrunch, the name given to the company “is inspired by the lollipops which were given to Adelman as a kid whenever he visited his bank.”
The basic goal of Lolli is to enormously increase the rate of consumers who own bitcoin wallets and also orienting them on how to utilize cryptocurrency to achieve their maximum satisfaction.
Presently, Lolli support over 500 retailers on their platform from the time of the launch, to help the platform avoid discontinuity, as a result of lack of funding, which is peculiar to so many other rewards startups. Users get attracted to an incentive-oriented platform, so if users are going to sign up on the reward platform, retailers are expected to be involved.
According to Adelman, he claims retailers have grown an undying interest in cryptocurrencies. I believe it would have been quite easy to engage these retailers to come on board on the platform because everyone is seeking an easy way to engage with crypto that includes the retailers.
In his words, “We’ve returned to many of these retailers that were initially not interested, but now are rapidly coming on-board,” CEO of Lolli Alex Adelman told CoinDesk. According to him “One of the prominent platforms that just joined the platform is Sephora adding a whole suite of retailers under the beauty category.”
In the future, Lolli intends to launch a tablet and smartphone app. Currently, however, the platform is exclusively accessible as a browser extension for Safari and Chrome.
That is not all, Lolli is also partnered with Sephora’s closest competitor, Ulta. These retailers pay some revenue to the Lolli platform for customer referrals in actual currency, which is later converted into Bitcoin for users reward in the app. Most crypto-oriented startup companies have been faced with the challenge of vast layoffs this year, as a result of the bear market. However, Lolli has a total of six (6) employees and is gradually gaining some traction.
HOW LOLLI WORKS
Here’s the basic procedure you can use to commence your interacting with Lolli:
Step 1) firstly, you have to install the Lolli extension on your Safari or Chrome from here: Lolli.com
Step 2) Carry out your normal shopping activities, and Lolli will notify you when you’re shopping on a partner store.
Step 3) After you are done with your purchase, some BTC will be sent to your Lolli wallet according to the "cash back rate" of the platform.
Cashback rewards vary widely. However, users can earn as much as 30% back in bitcoin when shopping from these brands mentioned above.
Overall, Lolli claims to make it safe, simple, and fun for everyone to own bitcoin. You don’t have to change your normal shopping habits. Instead, you can shop at your ordinary retailers while enjoying cashback rewards.
[3]