Universal Recognition Token is the first blockchain-based corporate rewards marketplace where employees may sell and auction their gifts, rewards and prizes to the general public. URT is disrupting a $90 billion dollar annual spend market in the United States alone, according to the Incentive Federation.
American corporations spend over $46 billion each year on employee gifts to be awarded via employee recognition programs that acknowledge outstanding employee achievement. Typically, these gifts come in the form of gift cards or merchandise. Although some employees receive gifts they want and appreciate, a not insignificant amount of the time these gifts are seen as unwanted or undesirable by employees.
Consequently, many gifts are discarded altogether by employees. We propose to monetize the market of unwanted corporate gifts by matching those gifts with individuals wishing to purchase them using blockchaintechnology such as smart contracts. Employees will be able to liquidate their unwanted gifts for cash or marketplace points (at the employer’s option) and do in an immutable and traceable way; value realized by gifts in this manner can be spent on alternate gifts or saved toward a future gift of greater value (employee’s option).
Entrepreneur, Marketing Advisor, ICO Advisor, currently CMO and Co-Founder Rated on Jul 15, 2018
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The team needs some fleshing out. Advisors don't have any public (at least LinkedIn) association with the project. Red flag.
The vision is kind of there - but it's so, so niche when just for corporate rewards programs. It could be worth looking into more. There is some scope there, but at this stage, not as convincing. Only because of how very niche this is.
The product - the link to your MVP doesn't work. I can't tell what this is going to be right now, and what it can potentially do. In addition, I'm just not convinced of the adoption because you're talking about corporate adoption. Seems like too uphill a climb at this point in time. No fault of yours, obviously.
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We will be putting a list of crypto conferences that the URT team will be attending on our website, along with with updates.
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Token breakdown live on website
We will be putting a token structure and ownership breakdown chart on our website, along with the emission schedule that we currently have in the whitepaper.
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Bounty campaign live
We will be announcing the rules of our limited, multi-tier bounty campaign on Telegram.
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"Auction It" button available
We will provide an embeddable “Auction It” button to our marketplace partners, so they can integrate it into their existing employee rewards workflow. This will be the first step toward hydrating the marketplace with real prize inventory.
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First prizes available on the marketplace
Our early partners will adopt the ’Auction It” button, making the first real prize inventory available on the Universal Recognition Token marketplace.
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Universal Recognition Token Beta App live
The beta release of the Universal Recognition Token Marketplace app will allow users to browse the inventory of prizes that our partners have available as part of their employee rewards programs.
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Auctions enabled on the marketplace
Select users for the Universal Recognition Token Marketplace app and URT holders will be able to bid for prizes that are put up for auction by employees of URT partner companies.
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Universal Recognition Token Alpha App live
The alpha version of the Universal Recognition Token Marketplace app will be available on the Apple Store and Google Play Store. URT holders will be able to view their balance and bid for prizes and experiences available in the marketplace.
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Non-US market expansion
Our business development and channel partnership teams will be working with overseas companies and employee recognition/engagement companies to add more inventory to the URT Marketplace that is redeemable outside of the US.
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URT issued as primary recognition
We will work with our existing partners to launch programs where Universal Recognition Tokens are purchased and used as the primary employee recognition and rewards medium for the staff of their companies and customers.
