Our goal with WOM has always been to reach beyond the self-contained crypto communities and into consumer markets. We want to give people with zero background in blockchain an easy entry-point into cryptocurrencies, and we have built partnerships with consumer-friendly apps such as YEAY to make it as simple as possible to walk through every step from creating a wallet, to converting tokens into gift cards.
Cryptocurrencies need use cases beyond speculation, which is why we get excited every time the WOM Token becomes a little bit more usable. This week YEAY launched an official merchandise store on Shopify, and the store, which sells YEAY-branded streetwear, including hoodies, tees, and accessories, has integrated digital currency payments service provider, CoinPayments. This means that shoppers will be able to pay for purchases directly using WOM Tokens, alongside standard online payment methods.
Creators and Authenticators within the WOM Ecosystem will now be able to use their earned WOM Tokens to purchase products in the YEAY store, which is the latest available way to spend earnings. Earlier this year YEAY integrated a white label third-party solution to offer gift cards and digital cash cards, enabling people to earn WOM Tokens and exchange them for things such as iTunes vouchers, thousands of various participating brands, and digital Visa and Mastercards. The digital cash cards can also be spent in physical stores such as Starbucks, making it easy to turn earned WOM Tokens into purchases as simple as a coffee.
Psst, There’s More Ecommerce News To Come…
The integration of WOM payments into YEAY’s Shopify store signals part of a wider focus on ecommerce integration for WOM. Inviting brand and ecommerce platforms into the WOM Ecosystem and unlocking the sheer conversion power of word-of-mouth recommendations was always part of the master plan first laid out in the WOM whitepaper.
n the coming weeks we’ll be divulging more details on exactly how ecommerce sites can take advantage of the WOM ecommerce tools on offer, but for now we want to share a quote from Anurag Gautam, first published in Hackernoon earlier this year, which perfectly captures the need for word of mouth in ecommerce:
“When someone visits an ecommerce site they are at a highly targeted moment in the customer journey. They are open to considering products to buy and those that find what they want may go on to purchase. Those who enjoy the experience may convert into engaged, loyal and hopefully repeat customers.
“You need to look further down the funnel at the intent, purchase and engagement phases to find the real sweet spot for social commerce. These are the moments in the customer journey where a consumer actively wants to be targeted with appropriate products. Social networks provide the power to serve those up, not through data tracking and advertising and any number of invasive psychological tools, but through the most valuable kind of social content that brought people to social platforms in the first place — genuine communication with their peers.”
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Bringing the power and reach of word-of-mouth to the blockchain[/b]