ANNOUNCEMENT FOR CURRENT BENJACOIN OWNERS
In preparation for launch of the Benja token-powered merchandise ad marketplace, the company is set to offer a series of beta test opportunities for benjaCoin owners.
"The opportunity ahead of us - to shift hundreds of thousands of dollars worth of transactions to benjaCoin - is tremendous. We have buy-in from publishers and vendors, and we anticipate nearly all of our transactions will take place over benjaCoin by 2019," shared Benja Co-Founder and CEO Andrew J. Chapin
"While we feel we have the mechanics of our vendor purchases ironed out, we've been focused on what happens after the transaction, or what our publishers do with this benjaCoin they receive. We recognize not all publishers will be comfortable selling their token on the open market or even back to the company at a fixed rate."
The company has contracted two economics consultants to conduct an analysis of options and their impact on the ad marketplace.
One option, to offer the exchange of benjaCoin for a Benja gift code, is under evaluation. Such an option would allow publishers to use their benjaCoin to purchase items from top-tier vendors like Nike, Patagonia, and Under Armour. Other options are under discussion and may be made available for beta test next month.
"We know this isn't the perfect solution for all, but this may be the right answer for some of our small publishers who want to swap that benjaCoin for a new pair of shoes or a yoga mat."
The test will run between May 22, 2018 and June 29, 2018. BenjaCoin holders may submit their exchange request in the form below, at which point a member of the Benja team will contact and arrange the manual swap. Benja is offering a $35 gift code for 4,000 BENJA. Additional options may be made available upon request.