Incent, a start-up company based in Australia, the UK, and Mexico attracted more than 1000 Bitcoins from investors in its first week of fundraising, enough to allow the project to get to market. Put in ordinary terms, in its first week of crowdfunding the company received more than $600,000 (or approx. A$780,000).
Incent have a target of $1 million but the money already collected is enough to complete development and Incent are now busy partnering with merchants ahead of its launch next year.
BitScan, the crypto business behind the project has already created a proof-of-concept wallet that will allow businesses to issue Incent, a universal token of reward that acts as a form of smart cash-back. Merchants will be able to easily configure the amount of reward they issue to customers to suit their own margins. The token is designed to appreciate in value as more merchants adopt it, benefiting businesses and consumers alike.
The money invested to date is enough to complete development and integrate Incent into the first merchant point-of-sale systems. The current systems which retailers operate, such as loyalty and incentive systems, are largely over-priced, costly, and under-perform in terms of the outcomes they are designed to achieve.
Incent currently has a growing list of companies–online, and bricks-and-mortar–who haved signed up for the service.
More information can be found at Incent Loyalty.