Sweet.io was founded by Tom Mizzone and Nathan Elliott under SocialSweet, Inc., which is regulated by the U.S. Security and Exchange Commission and incorporated in the state of Delaware. Sweet provides brands with a platform for tracking customer engagement through social media. Customers can be ranked based on customized parameters that a brand defines. This may include such actions like tweeting about the brand, referring friends, checking in at stores, for example. Brands have the option of communicating with top-ranked customers through rewards and customized promotional campaigns. Pricing is subscription-based starting from $299/month for small brands and varying with the number of customers or fans the brand has.
The technology developed by the company enables artists and consumer brands to create unique, one-of-a-kind digital collectibles or NFTs for fans and consumers. Sweet utilizes blockchain technology to ensure each digital collectible’s unique authenticity, and to demonstrate rights ownership. Brands have the flexibility to bring digital merchandise to market in different ways with Sweet’s solution including: for-purchase on existing e-commerce stores, bundled with physical products via QR codes, as social giveaways via web-based reservations, and as rewards for completing actions such as streaming a song on Spotify or Apple Music.
The Sweet platform includes a mobile blockchain wallet for iOS and Android. It’s a one-stop shop for collecting, owning, and trading unique digital collectibles from your favorite brands and artists. The UI is quite good and offers users the full experience of community as they interact with others and trade their collectibles.
Sweet creates the definition for each collectible series on the public blockchain including the total number available and the collectible images. Once committed to the public blockchain, the series cannot be edited or changed by any party including Sweet. Sweet uses the Simple Ledger Protocol / SLP chain or other similar blockchain which offers an open ledger reporting and tracking capability suitable to ensure rights ownership and authenticity.
When a user obtains a collectible within a series, a specific collectible/NFT is created by Sweet with a distinct sequence number. The sequence number of the collectible will never exceed the total inventory requested by the brand for the series.
Brands using the Sweet platform to distribute digital collectibles need to understand that any future value of a digital collectible is based on consumer interest and demand for that digital collectible and not something that Sweet or the brand can control. This means that Brands should not promise any future value of digital collectibles in promotion or marketing of such collectibles.
As a Platform feature, you can choose how to display your owned digital collectibles in a virtual “trophy case” for others to view and enjoy. This virtual trophy case can be fully customized by users and can be displayed within a public profile on the mobile app and on the web. Users can optionally add narrative and other metadata text to each collectible, explaining how they obtained the collectible and why it’s special to them. The virtual trophy case can also be put into “display mode” for projection on TVs and other displays for the enjoyment of others. The platform also enables Brands to add additional utility to collectibles where proof of ownership can grant users personalized benefits such as VIP access at a concert or event.
Sugar – Sweet’s loyalty reward points
Sugar is the name of Sweet’s loyalty reward units used to reward users for engaging with the platform, making purchases, and performing user actions, and used by users for redeeming rewards on the platform. Sugar is similar to ‘loyalty points’ or a ‘mileage program’ where users can earn and redeem Sugar like they would with points or miles, but as stated in Sweet’s case it is branded as Sugar to be used on the Sweet platform.Users may be able redeem Sugar for rewards offered on the platform by Sweet or brands and for other features on the platform.
Users can in some cases also pay when they want a reward that requires more Sugar than they have or want to use. Brands may offer various rewards that are not typical services provided by the brands. A decision by a brand to offer a brand reward is at the discretion of the brand. Likewise, the decision to redeem Sugar towards a reward or on the platform is at the discretion of the user.
Sugar received from Sweet may be used on the platform to redeem for rewards offered by that brand or for rewards offered by other brands or Sweet. Receiving or purchasing of Sugar does not provide the user with any rights with respect to Sweet or brands or their respective revenues or assets, intellectual property or other financial, ownership, or legal rights.
Get a taste of that Sweet…
The platform is only available to users 13 years of age or older. First, you need to download the app:
To get started, create an account:
As part of the registration process, you will need to provide your email address, or mobile telephone number which serves as your ‘user account’ and choose a username which serves as your platform ‘handle’, and a password. Alternatively, users may choose to create a user account by authenticating with their personal Facebook, Google, or Twitter, or Apple account.
You can now set your password
Minimal KYC required
Read the terms and conditions and choose whether you accept to proceed
Now you can explore the platform
You can also connect your streaming app to collect Sugar for simply listening. A clever way to spur adoption.
BCH-enabled Eco-Friendly NFT Solution
Sweet endeavours to offer full flexibility in minting NFTs. Although the platform supports the ERC721 standard on Ethereum, they use BCH technology to create many of their NFTs. Much of the criticism the crypto industries faces broadly is the supposed high cost of energy required to securely facilitate transactions on blockchains. This has been deemed by a flaw too big to ignore as concerns around environmental issues grow and seriously challenge the sustainability of operations that power this burgeoning industry.
Sweet, in partnership with Bitcoin.com, announced the launch of a highly-scalable NFT platform for the broad distribution of digital collectibles and digital merchandise. Leveraging Simple Ledger Protocol (SLP) and the Bitcoin Cash network (BCH), the platform uses Bitcoin Cash because it’s fast, scalable, and highly cost-effective.
NFT mining is calculated using “exa-hashes per second” (EH/s). Using BCH to mine uses about 1.5 EH/s which is considered very low compared to other blockchains where around 450 EH/s would be required to mine. You can also look at it another way by determining how many kW/h (Kilowatt Hours) are used to create an NFT. Some platforms use around 340kWh per NFT – the equivalent of about 145 Kg of CO2 emissions while Sweet uses just 0.2 kWh – about 0.086Kg of CO2. This makes Sweet more than 500x more energy efficient than platforms which use other blockchains.
Sweet has made a significant investment in producing NFTs at scale by the fast creation of NFTs to support major product or music releases and events. The NFTs can be delivered immediately to a user’s SLP wallet. From there, users can trade their collectibles with other fans and users within the app. According to Sweet’s CTO, Kenneth Ellis: “Each NFT has a unique URI associated with it, the contents of which are signed as part of the creation process. Sweet has made these URIs public to facilitate sharing, and when resolved by a browser they provide a 3D rendering of the collectible, along with information on the current owner.”
Sweet’s solution, built on SLP, is driving innovation and broader adoption of NFTs, according to Roger Ver, founder of Bitcoin.com who according to a press release was quoted stating: “In the past, users were locked into a completely in-app experience or a single marketplace, but now any Sweet digital collectible can be acquired through many channels and traded with anyone around the world, even if they aren’t a Sweet user themselves. This means true and authentic ownership for users, and it’s being made possible on Bitcoin Cash.”
Originally posted on http://bitcoincashafrica.com/
