At the moment, the rewards system will only be enabled for users in part of Europe.
The renowned footwear company Nike has decided to delve further into the field of blockchain technology. Not only it enabled the refund option through the use of cryptocurrencies, but it also gives its customers a 3% cryptocurrency reward for each purchase.
The reward system that the US-based firm has introduced in its business with clients was the result of the alliance with the technology finance company Finut. This agreement will allow Nike to reward its customers with a 3% reward in cryptocurrencies and 9% in fiat cash for those who make purchases in any of its stores.
According to a company spokesperson, the rewards system is only enabled for customers who make purchases online and through Visa’s Plutus platform. This platform operates with Pound Sterling and Euros; thus, this reward system would only be enabled for buyers in the United Kingdom as well as part of Europe.
Regarding the reward, the announcement clarified that the company will establish the system to grant the client the amount of 3% in the token that the payment platform Plutus creates. In this way, the system will release the asset in the form of Pluton (PLU), which is a decentralized asset that operates under the Ethereum network. The company will grant the rest of the reward in the form of a refund with the currency used for the purchase.
In addition to the aforementioned reward for the purchase, the announcement also detailed that the customer can use this reward to do “staking” through the use of the Plutus application. In current asset data, each Pluton is currently known to be worth USD 1.75, also achieving a total market capitalization of USD 1.5 million.
Plutus and its Efforts for the Adoption of Cryptocurrencies in Everyday Life
One of Plutus’ biggest challenges is making the use of cryptocurrencies more viable in common transactions, such as purchases of goods and services. For this reason, the firm has established a set of alliances that promote the use of these assets in common transactions such as the purchase of footwear.
According to the company, the commercial alliance with Nike will make it possible that, through the use of rewards, people can gradually take interest in crypto movements. Offering a good experience is the key for the user to find meaning in the use of these assets.
Plutus was in plans to expand this reward system to other possible partnerships with companies in the tourism sector. Until now, web companies such as Skyscanner and Airbnb are working to develop a similar system. These companies are in charge of purchasing travel tickets, among other services. According to Plutus spokesmen, the coronavirus outbreak has hit airlines hard, and even more the companies that work around them so these companies are looking for new opportunities.
On the other hand, Nike assured that they have had good experiences with the use of crypto technologies. On a previous occasion, the footwear brand participated in a pilot test on the use of blockchain technology to improve the supply chain.
Researchers from Auburn University in Alabama, the United States of America, were in charge of this pilot test to use new technologies like blockchain, which would soon be part of daily life.
By María Rodríguez
