(MENAFN- GlobeNewsWire - Nasdaq)
SAN FRANCISCO, Aug. 25, 2021 (GLOBE NEWSWIRE) -- RocketFuel Blockchain, Inc. (OTC: RKFL), a global provider of crypto payment solutions, today announced plans to issue its own crypto token through an Initial Exchange Offering (IEO) via a leading cryptocurrency exchange. RocketFuel is targeting a $15 million raise in the IEO from the issuance.
The coin will be used for a token-based loyalty program aimed at incentivizing shoppers to make purchases using cryptocurrencies or any other payment method.
The tokens will allow RocketFuel customers to redeem, unlock and purchase additional services and products like airline upgrades, hotel bookings, concert shows, sports events, etc. Customers can also earn tokens when they make purchases on RocketFuel's payment ecosystem.
RocketFuel's blockchain based loyalty program will be designed to address the growing loyalty fraud in the travel and other industries. The global pandemic hasn't slowed the steep rise of loyalty fraud, but quite the opposite. As frequent flyer balances are left untouched by members, they become lucrative targets for fraudsters to swoop in and steal them without being noticed. According to a Morder Intelligence report,“the global loyalty management market was valued at US$4B in 2020 and expected to reach US$14B by 2026.” RocketFuel believes that its blockchain-based loyalty token will be virtually impossible to hack.
“We are very excited to announce our new token and loyalty program, which will benefit merchants and shoppers and will unlock various rewards within our platform. This will lead to more transactions and greater adoption of crypto which will ultimately benefit the entire crypto payment ecosystem and the people who support it,” said Peter Jensen, CEO of RocketFuel.“In addition, the funds acquired during the token distribution will be used to further fuel the rapid expansion of RocketFuel's market share, product development, and marketing efforts.”
RocketFuel has been active in the payments space since its launch in Q1 2021 and recently announced the industry-first“Price Settlement Guarantee” feature which allows merchants to always receive deposits equal to the listed price of goods sold without ever being affected by the crypto-to-fiat exchange rate fluctuations. By releasing such industry-leading features through its one-click payment interface, RocketFuel is reinventing the payments space with benefits not seen in traditional payment platforms.
About RocketFuel Blockchain, Inc.
RocketFuel is a global payments solution provider that provides online shoppers with a simple, easy-to-use, one-click checkout process that accepts payments with Bitcoin and 50+ cryptocurrencies. RocketFuel provides a highly secure and efficient shopping cart experience with significantly low fees for merchants, along with the benefits of no chargebacks and no card declines. RocketFuel's solutions focus on enhanced customer privacy protection eliminating the risk of a data breach while improving speed, security, and ease of use. Shoppers on RocketFuel powered online stores enjoy seamless check-out and forget the clunky cart paradigm of the past. RocketFuel merchants are able to implement new impulse buying schemes and generate new sales channels that are unavailable in other present-day e-commerce solutions. More information about RocketFuel is available at:
The Company believes that this press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Terms such as "may," "might," "would," "should," "could," "project," "estimate," "pro-forma," "predict," "potential," "strategy," "anticipate," "attempt," "develop," "plan," "help," "believe," "continue," "intend," "expect," "future," and terms of similar import (including the negative of any of these terms) may identify forward-looking statements. Such forward-looking statements, including but not limited to statements regarding the plans and objectives of management for future operations, are based on management's current expectations and are subject to risks and uncertainties that could cause results to differ materially from the forward-looking statements. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the accuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, market acceptance of the company's products and services; competition from existing products or new products that may emerge; the implementation of the company's business model and strategic plans for its business and our products; estimates of the company's future revenue, expenses, capital requirements and need for financing; current and future government regulations; and developments relating to the company's competitors. Readers are cautioned not to place undue reliance on forward-looking statements because of the risks and uncertainties related to them. For further information on such risks and uncertainties, you are encouraged to review the Company's filings with the Securities and Exchange Commission ("SEC"), including its Annual Report on Form 10-K for the fiscal year ended March 31, 2021 and its Quarterly Report for the fiscal quarter ended June 30, 2021. The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.
Ben Yankowitz, CFO
Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.