For those who have been involved with the SHOPX Squad from day one, first of all, thank you. A lot of trial and error went into building the community into what it is today, and there were about 20 people who supported us all the way through. We know who you are and won’t forget it! You may remember talking us talking about a system for staking SHOPX and receiving an NFT in return that would represent your staking tier. But we weren’t ready for that. Now we are. Let’s introduce SquadX.
This is a program that compensates SHOPX license token holders for supporting the growth of the SHOPX ecosystem. It’s an innovative program that simplifies their relationship to the project. Here’s how it works:
License holders can stake their SHOPX license tokens to be hired as SquadX ambassadors.
SquadX ambassadors will be issued an NFT as an official badge. This badge will be used as a key to the private Discord server, where they will have access to marketing materials, content, and merch.
The best part is, that ambassadors will be paid in ETH for their efforts. 40% of the revenue generated from NFT sales on the platform will be distributed to ambassadors every week as compensation for spreading the word about SHOPX. The smart contract will determine who has how much ETH to claim.
The more license tokens staked in the ambassador program, the more responsibilities the ambassador will have when marketing SHOPX to the public. The ambassador will also earn more for staking. Ambassadors’ responsibilities will be managed by the honor system.
Mint your employee badge by staking your license tokens for 90 days. The NFT badge will be free plus gas. No unbinding period for staked tokens. Here’s a breakdown of the roles:
Level 1 — Affiliates
1–1,000 SHOPX staked
- Tell 1 person a day about SHOPX
- Engage with 1 social post a week about SHOPX
Level 2 — Agents
1,000–10,000 SHOPX staked
- Everything in Level 1 Plus-
- Tell 1 person a day about SHOPX
- Engage with 3 social posts a week about SHOPX
- Post something educational about SHOPX once a month
Level 3 — Ambassadors
10,000–100K SHOPX staked
- Everything in Level 2 Plus-
- Engage with 5 social posts a week about SHOPX
- Post something educational about SHOPX once a month
- Tell 1 brand a week on social media about SHOPX
Level 4 — Partners
100K-500K (max) SHOPX staked
- Everything in Level 3 Plus-
- Engage with 10 social posts a week about SHOPX
- Post something educational about SHOPX once a month
- Tell 2 brands a week on social media about SHOPX
For a quick visualization of the relative earnings from this system, imagine that a license token holder staked 5% of the total SHOPX license tokens that were staked in the program. They would then receive 5% of the ETH distributed to the ambassadors (5% of the 50% of the total ETH generated by the platform). Very simple. No multipliers.
SquadX Ambassador Perks
- Get information about upcoming announcements and project developments ahead of the general public.
- Be a leader in the movement toward a freer marketplace in your community.
- Get access to special events and training from our team of industry leaders and freedom fighters.
- Help us advance the movement and get rewarded with SHOPX’s decentralized currency, company swag, and more.
- We want to be more than your favorite project — we want to be your partner. Join SquadX to elevate both our brands together.
- Get access to our network of 6,000 (and counting) like-minded, freedom-focused ambassadors.
The reason why we are so determined to create such a highly rewarding, highly risky, and highly decentralized system is that our project was founded on the belief that the people know what’s best. That’s what decentralization is all about. If we put the power and opportunity in the hands of the community, we know that they will help the project succeed. And in turn, they will be rewarded as a result of the growth of the platform.
Web2 companies leave their communities behind when they go big. But SHOPX and its community will rise together.
Why Web2 Brand Ambassador Programs Will Fail
Brand ambassador programs are strong marketing tools that help companies spread the word about their products and services. The best brand ambassador programs may improve marketing initiatives while raising brand awareness. There are two types of brand ambassadors: Fans who are passionate about a brand or product and share their love on their own, or a branded, deliberate program by a company to find, embrace and engage their biggest fans.
Brand ambassador programs are a clever method for businesses to use current clients to support ongoing marketing activities. It’s the network effect. Exponential growth. Working directly with customers is one of the best methods to spread the word, outside of norms like social media, email, and content marketing. Getting in contact with your target audience and using them to promote your brand is incredibly powerful. 84% of shoppers believe internet reviews are just as reliable as human ones. Because of this, consumers appreciate what brand ambassadors have to say, whether or not they know the reviewer.
However, just about every single successful brand ambassador program is very one-sided. Some of the most successful in recent times were Lululemon, Gymshark, Red Bull, Xbox, and Sephora. As popular as these brands were, they are all bull market success stories. After COVID and the recent economic slump, people are starting to wake up to one-sided corporate engagements. As fun as it may be to get free stuff and have the inside scoop on a brand you like, at a certain point it becomes free labor. These companies are making massive profits, and in return for the love and devotion of their fans, they give small gift bags of free advertising. It’s a win-win for them and a pat on the head for the fans.
SHOPX is taking this highly effective formula for success and adding a Web3 twist. And we all know that Web3 is about ownership, mutual benefit, and decentralization. The squad is highly innovative and is the first program of its kind. With this program, SHOPX once again proves our commitment to blazing a trail in our marketplaces and rebuilding the fundamental building blocks of our economy.
