Gamifying the shopping experience has been in development for a very long time. Now that mobile websites are available, every grocery chain has some sort of shopping point system to incentivize repeat business with lower costs. This pre-digital custom is being evolved by the Assemble Protocol (ASM), in which the points themselves can be tokenized and utilized as a form of payment.
You may use this comprehensive guide to determine whether ASM is the upcoming major blockchain project with the most potential.
What is Assemble Protocol (ASM)?
The team's two main partners, STA1 and YWMobile, have combined their experience for the South Korean project Assemble Protocol. These financial firms have discovered that the Korean Reward Point Market Size is largely untapped.
The Korean Point Reward system for airline mileage points was introduced, and it has now extended to all other industries. Most of these points have accumulated within the ecosystem of credit cards. The Korean e-commerce points system hit 20 trillion won (KRW) in 2019 as seen in the figure above. Although the Global Point Market is thought to be worth 200 trillion won, this is ten times smaller, according to the Japanese Yano Research Group.
Where does one find these points?
For instance, renowned Korean tour operator Hab Korea offers points for a variety of interactions. This covers regular visits, blog comments, magazine subscriptions, and participation in article comment threads. In the payments sector, department stores and petrol stations frequently provide cashback benefits.
These are only a few of the many cases that you must have personally encountered. To boost customer loyalty and give customers a tool to control their spending, reward points have become a mainstay of online commerce. Nevertheless, they are all unevenly distributed throughout these ecosystems. By using ASM tokens, which can be exchanged for money, the Assemble Protocol aims to consolidate these reward points onto a single blockchain platform.
The ASM road map
With its 520,000 subscribers and more than 3,000 partners, STA1 contributes to the unification of reward points by data-extracting from web sites and crawling them. On the other side, YW Mobile, a mobility-on-demand business, uses AI to match clients with their mobility needs in real-time, much like Uber. Therefore, YW Mobile contributes with their knowledge of software engineering.
Assemble Protocol is aiming to gain 0.5% of the market share, or 100 billion KRW ($84.6 million), in the near future, with the present estimated value of the Korean Point Market (TAM) at 20 trillion KRW. The company wants to expand language support and make more progress with its Assemble Wallet before the end of the year.
What the ASM and ASP tokens do
The maximum supply of ASM tokens for the rewards points unification protocol is 1.35 billion. There are currently 680 million in use, or 50.37% of the total supply. The ASM token has two different functions: utility and staking.
ASM's price is influenced by free-market factors, just like other cryptocurrencies. Holders of ASM coins may stake them on the Assembly Protocol platform. They receive discounts on a variety of services offered by the platform's partners in exchange.
Blockchain is prepared to disrupt the market for reward points.
The ecosystem for reward points has existed for a while. However, it has the potential to reach and interact with customers like never before thanks to blockchain technology. The entire ecosystem will eventually be tokenized, and it appears that Assemble Protocol intends to set the example.
