WazeCoin, the NFT of Waze
I'd like to share with you an idea I recently had to try to increase Waze user engagement with the app. Launch an NFT that will be linked to the points that are fetched in the app.
First, we have to understand what an NFT (Non fungible Token) is: A non-fungible token is a special type of cryptographic token that represents something unique. Unlike cryptocurrencies like Bitcoin and many other utility tokens, NFTs are not mutually interchangeable. A fungible item, such as money, can be exchanged for another.
So it would be to create a currency, which would be linked to the points obtained in the application that could be traded between its holders and between Waze. When interacting with the application with a login created, the user would earn points that would be automatically converted into WazeCoins, for example, 1000 points would be 100 WazeCoins, but this can be defined after a study of ease or difficulty in obtaining the points.
Here are some usage examples:
- In the virtual store you could buy stickers for 100 WazeCoins, shirts for 500 WazeCoins and other items produced by Waze, such as hats, mugs, etc.
- Create different moods that could only be obtained by exchanging for WazeCoins, and in this regard, moods with different degrees of rarity could be launched: very rare (1-100) that would be worth many WazeCoins, rare moods (101-1000), medium mood (1,000) -100,000), common moods (100,000 – 1,000,000).
- WazeCoins could also be used as payment on Waze's marketing platform.
- People who don't have enough points or don't use the app to “mine” points (WazeCoins), could buy from users who have it or even from Waze directly.
The value of WazeCoin would initially be determined by the initial launched quantity and demand of it, and Waze could have control over this value, releasing more coins into the market. It could align the value of the coin to the value of the products in the store.
Thus, Waze could profit a lot from the currency appreciation or not, there goes Waze's interest in how to manage WazeCoins.
Morten Schmidt-Petersen commented
+1000!! I've never really understood why Waze is not using these points for anything. Eg. making a deal with lets say Circle K in Europe and offering that Waze drivers can get a cup of coffee for 100, 1000 or 10000 points. This way Waze would get some amazing marketing and Circle K would get a lot of Waze drivers as customers. I really, really can't see why they haven't done this yet..
MARCELLE AMORIM CARVALHO commented
Bom dia... Prezado Autor (Vitor Goiabeira) muito boa sua ideia. Estamos junto nessa... Abraço e sucesso, espero que consiga essa ideia.