– Launch will follow the completion of a $ 3 million seed funding round jointly led by Valor Equity Partners, Valor Siren Ventures and Chive Media Group CEO John Resig
Released: October 14, 2021 at 5:00 a.m. CDT|Updated: 31 minutes ago
Austin, Texas, Oct 14, 2021 / PRNewswire / – Venkman project, an e-commerce engagement solutions platform, was created to rethink how brands evolve outdated loyalty point models and drive customer loyalty. The startup was co-founded by executives from theCHIVE, the online community that fosters disrespectful content and merchandising partnerships with celebrities such as Bill Murray and John Daly.
Corporate rewards programs have historically been deliberately opaque, deterring repayments and undermining consumer engagement. With emerging blockchain and NFT technologies, Project Venkman will provide companies with branded community crypto tokens and treasury management tools to develop incentive programs that are transparent and provide users with tangible rewards for their purchases to encourage brand engagement to promote. Project Venkman also offers its customers the ability to create digital collectibles and NFTs to incorporate into community awards.
“America has over 4 billion loyalty program memberships, what’s over $ 170 billion in existing Reward Points, “said Project Venkman Co-Founder and CEO Gavin Gillas. “From these points about $ 50 billion are not redeemed. The opportunity to drive customer acquisition and retention with finite brand community tokens is enormous. “
Project Venkman’s first customers the cut, with over 10 million active members, 99% organic traffic, and a robust e-commerce business that sells over $ 400 million so far on the receipts.
“TheCHIVE will be an ideal proof of concept customer for Project Venkman,” said John Resigwho co-founded Project Venkman with Gillas, as well as Leo Resig, Mike Grisko, and Alen Durbuzovic, who are also Chive executives.
“Project Venkman will provide the tools to create a trustworthy loyalty ecosystem that will return sustainable value to those users who add value to the network.” John Resig added. “It’s the perfect solution for any brand looking to increase engagement, traffic, transactions and brand affinity.”
In the coming months, theCHIVE members will receive new digital wallets to earn community tokens and participate in its NFT offers. Chive users can collect tokens for purchases, content uploads, comments or time spent on the site, among other things. Tokens can be redeemed for discounts on goods, access to exclusive sales or events, or digital rewards.
ABOUT PROJECT VENKMAN
Project Venkman is an e-commerce engagement solutions platform that helps brands rethink their customer acquisition and retention. Leveraging emerging blockchain and NFT technologies, Project Venkman brings transparency to the historically opaque ecosystem of consumer rewards programs and enables brands to drive customer acquisition and retention. To learn more about Project Venkman and how we can strengthen your brand, visit us at venkmanholdings.com.
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SOURCE Venkman Project
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