Have you ever been to a fast food place and been asked to sign up for their rewards system?
Or a car dealer and asked to join their loyalty program?
Or any other service that gave incentive for repeat customers?
In a majority of these cases, the rewards points don’t really add value to the experience. Today, every business that could use the concept of points tries to make it part of their business. And it stopped being something that delighted customers and, instead, bored them.
As we move into the age of decentralized services and the proliferation of tokens, there will be a period where owning tokens will be exciting and energizing. But much like the rewards systems of today, a token for a sub-par service will just be clutter and won’t excite anyone.
Tokens create spectacle, but great products win markets. Make a token that unlocks something special and not a free donut with your next purchase.