Categories: CryptoNews

Fluz Fluz Blockchain-Based Cashback Platform ICO Sells Out in Days

The highly successful Fluz Fluz cash back network initial coin offering has recently concluded, allocating 204 million FLUZ tokens and reaching hard cap in less than one week from launching on the 18th of January. Fluz Fluz is now set to expand into the global consumer rewards market, bringing the innovative digital shopping platform to the US and beyond.

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The investor strong response to the Fluz Fluz ICO was largely due to the high level of potential the platform offers. A clearly-defined roadmap, already-successful working product, and comprehensive white paper also helped the offering cap out in days.

The Fluz Fluz network is already active and performing well in Columbia, and is aiming to release their service in the United States in Summer 2018.

What is Fluz Fluz?

Fluz Fluz is a dynamic consumer rewards system that allows users to earn cash back from purchases by accumulating redeemable points. The unique element of Fluz Fluz’s architecture, however, is the fact that rewards scale relative to the number of users in the network, which allows “Fluzzers” to leverage economy of scale to generate significant cash back bonuses as a collective.

TechCrunch Co-Founder and tech visionary Keith Teare has recently joined the Fluz Fluz advisory board to assist with product strategy with the impending US market launch, bringing more than 20 years of tech-entrepreneurial experience to the Fluz Fluz team.

How Fluz Fluz Works

Fluz Fluz already boasts more than 40,000 Fluzzers active on a fully-functional platform in Columbia, where it was launched by Maurice Harary and Stefan Krautwald in 2017. Fluz Fluz is an app-driven platform and allows users to invite friends to join, thereby growing their own network.

Each individual Fluzzer is able to grow their own network of up to 65,535 other Fluzzers. In addition to earning cash back rewards on their own purchases, Fluzzers also earn rewards when other Fluzzers in their network make purchases— significantly multiplying their overall profit in an exponential manner.

Fluzzers can use points called Fluz generated by their own purchases and those made by members of their network to redeem securely stored gift cards from merchants across a wide range of categories. Alternatively, it’s possible to cash out Fluz for real money, or transfer it to other Fluzzers.

The Fluz Fluz app is available for both Android and iOS, and provides users with a simple, intuitive mobile wallet for balance tracking and in-store gift card redemption. Interestingly, the Fluz Fluz app also makes it possible for users to track the activity of members of their network in real time, delivering earning insights and helping them motivate other Fluzzers to earn.

The Future of Fluz Fluz

The Fluz Fluz approach to consumer rewards and purchase incentivization is unique, and with a strong retail advisory team, it’s likely to become a game changing force in the US and international markets.

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The writer of this post is a guest. Opinions in the article are solely of the writer and do not reflect The Merkle's view.

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