The Shping token sale is currently in progress, making this the perfect time to learn more about this blockchain technology. Shping aims to make shopping more rewarding, safer, and smarter. The project already has active partners from around the world, showing that the platform works and has plenty of support.
What Does Shping Do?
Shping has multiple functions, serving as an integrated service that integrates shopper marketing, product safety, a global product database, and brand protection in one ecosystem. Consumers receive rewards for using the platform as well as contributing to it, and the Shping coin will fuel the platform, both its adoption and growth among shoppers.
Does the Shping App Offer Full Functionality?
Using the Shping app, consumers can do everything related to the platform. They can view a product’s ingredients and view detailed information regarding its origin, composition, and nutritional value. They can also view extra information brands wish to share, such as videos, ads, recipes, product manuals, and “making of” documentaries.
Consumers are encouraged to use the Shping app to update the Global Product Database, particularly for items that need more information. Users can also rate products, read and write reviews, complete brand surveys and questionnaires, and check if a product has been recalled. Brands can activate additional features for users, including registering products for warranty and verifying a product’s authenticity. The certification authorities can also activate information for users about a product’s certifications.
How Do Consumers and Businesses Benefit from Shping?
Consumers can use Shping to scan the barcode of a product within the Shping mobile application. This also helps expand the database of products and gives them the chance to update the product details and write reviews. Consumers then receive Shping Coins as a reward.
Brands can use Shping to market to consumers. Users will receive pitches and recommendations for products based on their preferences, profile, and location. Brands also can reward consumers for viewing promotions, such as videos, with Shping Coins. Thanks to Shping, brands will be able to use digital signatures to ensure product authenticity, prevent counterfeit products from making it to market, and prevent recalls.
Consumers, brands, and retailers will all benefit from new ways to communicate and interact with each other. This can lead to a more meaningful and rewarding shopping experience built on trust and confidence in the product.
What Are the Functions of the Shping Coins?
The Shping Coins are the fuel of the Shping platform and its main decentralized currency. Shoppers receive Shping Coins in return for using and contributing to the application. Authorized agents, like brands, certification bodies, and retailers, can use Shping Coins to reward and incentivize consumers in various retail situations. With the Shping Coin, these entities can influence a customer’s purchasing decision, drive consumer loyalty and engagement, and validate product authenticity.
What Should You Know about the Shping Token Sale?
The presale for Shping Coins already took place, lasting from Jan. 22–31. The crowdsale began on Feb. 22 and will continue until March 23. The presale included a bonus of 40 percent Shping Coins, and the minimum token purchase was 300,000 Shping Coins. The initial rate is 0.01 USD.
Those who participate in the ongoing token sale can also receive bonuses, depending on their investment. There is a Million+Tier Bonus for anyone who has or will acquire more than 1 million Shping Coins (excluding bonuses). These contributors will receive a 25 percent bonus, as well as Platinum Status for Life, provided their tokens are locked for six months after following the token sale.
Those who contribute less will also be eligible for bonuses, and the minimum contribution at any point is 1,000 tokens purchased. The first day of the sale (Feb. 22) included a 20 percent bonus, which dropped to 15 percent until March 1. The bonus then goes to 10 percent until March 8 and 5 percent until March 15. The final week of the sale does not have any bonus. These contributors can also get Shping Platinum Status for Life by purchasing 100,000 coins by March 1, 150,000 by March 8, 200,000 by March 15, or 250,000 by March 23.
Out of the Shping Coin pool, 42 percent will be used for incentivizing users as well as fueling performance and growth for the platform. This 42 percent is known as the reserve pool. There is also a Shping Bounty Program that rewards participants with Shping Coins, accounting for 1 percent of the total token supply of 10 billion. Fifty percent of the tokens are distributed during the token sale, with an extra 5 percent going to advisors and 2 percent to the Shping team.
Contributors have the option of receiving their Shping Coins in their preferred token wallet following confirmation of their transaction, but they cannot move the coins until the token sale ends. Those who buy tokens can also choose to begin using their tokens on the platform. Residents of the United States, New Zealand, and China cannot participate in the token sale.
What Partners Does Shping Have?
As mentioned, Shping’s active partners are from around the world. In Australia, they include the National Farmer’s Federation and Australian Certified Organic. The latter is the country’s largest organic certification body. In New Zealand, they include the government-owned AsureQuality. Other partners include the Asia Food Safety Zone in Changchun, China, and Rosselkhoznadzor, the Russian federal service in charge of veterinary and phytosanitary surveillance. Shping is also currently negotiating with more businesses and authorities around the globe.
The partnership with these certification authorities is a crucial part of Shping since it lets the platform integrate certified data and test results for products, making the information accessible to users.
Shping should appeal to everyone involved in the industry. Consumers will appreciate the rewards for reviews and more, and brands will like the ability to reach customers better, improve engagement, and provide trust in their products. The use of the Shping Coin will be central to the platform, which should streamline all the transactions and rewards, making it easier for all involved entities to interact.