- SocialGood is a blockchain initiative that aims to rebuild capitalism.
- By using SG, users could receive up to 100% of their purchase back in crypto.
- Through everyday shopping, users (consumers) can build up their assets at no cost to them.
In this day and age, it is common practice for retailers to offer cashback as a marketing strategy to attract online shoppers. Working with merchants and implementing a variety of techniques, cashback firms give competitive rewards for retail transactions to incentivize spending.
Among those merchants, there is the SocialGood App which has recently surpassed 600,000 users worldwide with a straightforward model: it rewards its users with a portion of their purchase, at no charge, when they buy items at their retail partners via its platform. The more people use the platform, the more profit is delegated to non-profits doing essential work helping others.
SocialGood is a blockchain initiative that aims to rebuild capitalism as we know it by creating a donation machine that combines blockchain and artificial intelligence. The app can be downloaded on Google Play for Android and Apple Store for iPhones, and by using it, users could receive up to 100% of their purchase back in crypto. This will be reflected within a few days after SocialGood has received confirmation of your purchase from any of its affiliated shops.
One thing to keep in mind is that there is a maximum amount per purchase – $10,000 – but you can make as many purchases as you like. By doing everyday shopping, users as consumers can build up their assets at no cost to them. The more the company’s sales increase, the more users increase, and the core value of the assets tends to rise. As a result, when consumers shop from their retail partners through the network, they are given a portion of their purchase price in SG digital assets for free.
According to sources, depending upon how much the user base increases, the value of the coin will rise due to controlled scarcity. As the coin value increases, the operating company’s coin sales will also increase. Therefore the result would be that the operating company will be able to use this as a source to return even more value to users, resulting in even more users.
This network effect works in both the consumer, as well as the digital asset market which is known as a “double network effect”, meaning everyone wins – users, companies, and the operating company.
Similar to bitcoin, there are supply restrictions, which is a key characteristic of any asset. Since the value increases, the number of users will increase, and future price increases can be expected as a result.
Utilize Opportunities to Get Free SG
Referring to others via your social media platforms with a special link will also reward you with more SG. The more SG holders there are, the more value is created.
Because major online retailers are partners, the more SG you will accrue and the more disposable income you will generate and that will enable you to spend with more affiliate retailers.
By putting the partner companies on the app, the operating company can receive advertising revenue from their business. Partner companies are very happy to have new ways of increasing their customer base, that way they are also able to partner with more companies daily.
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