The SHOPX license token is pumping because roadmap products are finally coming out and the large community is reviving the initial massive hype. The software license token has seen around a 50% increase in just over a day, seeing around a 100% increase during that time.
When SHOPX first launched, the license token saw an increase of 140x. Since then, the project team has been developing the technology outlined in the whitepaper and broadening its network. The first product that came out was ReserveX, an app that was approved and deployed on Shopify, and is downloadable for free now. The second product that came out was CharityX, a charity-focused version of ReserveX, and the third product is SquadX, a Web3 affiliate program that rewards community members with a portion of the ETH generated from the platform for helping the project grow. The network effect and social media presence of SquadX members is certainly helping to contribute to the recent uptick.
SquadX is a program created by SHOPX that rewards its license token holders for promoting and supporting the growth of the SHOPX ecosystem. The program is designed to help SHOPX build a community of ambassadors who are incentivized to promote the platform, thereby increasing its adoption and demand for the SHOPX token.
To participate in SquadX, license token holders can stake their SHOPX license tokens to be hired as SquadX ambassadors. Ambassadors receive an NFT badge that serves as a key to access the private Discord server where they can access marketing materials, content, and merchandise. They are paid in ETH for their efforts, and 40% of the revenue generated from ReserveX NFT sales on the platform is distributed to ambassadors on a weekly basis as compensation for spreading the word about SHOPX.
There are four levels of SquadX, each with different staking requirements and responsibilities. At the bronze level, ambassadors are required to tell one person a day about SHOPX and engage with one social post a week about SHOPX. At the platinum level, ambassadors are required to engage with ten social posts a week about SHOPX, post something educational about SHOPX once a month, and tell two brands a week on social media about SHOPX.
By creating a community of ambassadors who are incentivized to promote SHOPX, the program helps to drive adoption of the platform and increase demand for the SHOPX token. Ambassadors also benefit from being part of an exclusive community, access to marketing materials, and the potential to earn ETH as compensation for their efforts.
Overall, SquadX is an innovative program that helps SHOPX build a community of ambassadors who are incentivized to promote and support the growth of the platform. The program provides license token holders with an opportunity to earn rewards while also helping to increase the adoption of the SHOPX ecosystem. This is a strong reason why $SHOPX is pumping.
ReserveX is an innovative platform that lets brands create e-commerce-integrated NFT collections quickly and easily. The platform uses Web3 technology to increase brand value and customer satisfaction. The ReserveX Pass, a digital collectible, grants the customer a level of ownership that was not possible before Web3. It gives the customer more control over their relationship with the brand, and it is not tied to their personal information. The ReserveX Pass also provides other benefits like loyalty programs, community building, botting prevention, and an increase in sales.
With ReserveX, brands can create custom loyalty programs at low cost, including perks and discounts available to Pass holders only. Certain products can be tied to the Pass, creating an exciting promotion and feeling of FOMO. An exclusive community can be built around the brand, and the ReserveX Pass can be the customer’s ticket in. This raises the value of the Pass, giving the customer a stake in the brand’s success. By “reserving” certain hot product launches or inventory restocks for ReserveX Pass holders, a brand can prevent bots from quickly buying inventory and reselling it at a markup on the secondary market. This captures value in the brand’s own ecosystem rather than leaking into the secondary market. Selling Passes increases revenue based on Pass sales alone and tells the brand how many people really want the products that are hidden behind the Passes.
Using ReserveX is simple. Brands can build no-code NFTs with an image, description, quantity, price, and landing page. The platform integrates with Shopify, giving NFT holders exclusive access to Shopify products for a given timeframe. Pass distribution can be done through a raffle, order received, or hand-selection. By using ReserveX, brands can leverage the power of Web3 technology to increase engagement, build loyalty, and increase sales. ReserveX’s success has a direct connection with SquadX, and its past successes contribute to $SHOPX pumping as well.
CharityX is a unique initiative by SHOPX that combines the power of blockchain technology and philanthropy to support charitable causes. Through its partnerships with non-profit organizations, CharityX is able to create innovative fundraising models that leverage the transparency and security of blockchain technology.
By using smart contracts, CharityX ensures that donations are transparent and efficient, reducing the possibility of fraud or misuse. While it is impossible to completely eliminate the risk of fraud, the use of blockchain technology provides a level of transparency and accountability that traditional fundraising methods do not.
One of the key benefits of CharityX is its ability to inspire a culture of giving in the blockchain community. By making donations visible in a publicly-accessible wallet, CharityX is able to demonstrate the power of blockchain technology in the context of philanthropy.
CharityX is committed to giving back to the community and has partnered with non-profit organizations to raise funds for causes that are important to the SHOPX community.
While the ultimate goal of CharityX is to make the world a better place, its use of blockchain technology also highlights the increased utility that the technology can provide. The transparent and secure donation platform shows how blockchain technology can be used for more than just financial gain.