For the past six years, the clients have been creating an application to launch in the hospitality industry that would focus on gathering data, incentivizing sales, and rewarding bartenders and consumers by connecting them directly to drink distributors through marketing on the app. Bartenders could earn rewards through upselling brands, and users can earn rewards by interacting with the application—checking into bars and finding drink specials. They wanted to utilize blockchain, especially the component of economic incentivization through a token economy.
The clients had lengthy experience in the hospitality industry and understood it from top to bottom. They worked with a development house and had an MVP, but they were considering tokenizing their marketplace.
Product type: Mobile application
Code Style, Module Boundaries and Dependencies, Cyclomatic Complexity, Cognitive Complexity, Code Duplication, External Dependency Versioning and Stability, Test Coverage
Location: Las Vegas
The clients needed a team with product, blockchain, and token economy knowledge, and the ability and expertise to not only develop a product, but also perform concept validation on the entire project, by optimizing their strategy and ecosystem including a token. They needed to discover challenges early on, such as onboarding users, determine the market, ensure that the tokeneomics would be valid, and find solutions for blockchain implementation in the application.
Through the Discovery Phase Workshop, the Totem team provided a comprehensive token marketplace strategy, technical assessment and review of the existing product, and product and brand recommendations. The technical, design, and strategy teams worked in tandem to provide product strategy with integrating a token economy, determined the tokenomics, and gave them a roadmap for their brand and product strategy.
- Technical Review
- Product and Brand Recommendations
- Product Strategy
- Token Strategy
Totem acted as a guide and partner to the client through the blockchain industry. As a result of engagement with Totem, the clients were able to move forward with a roadmap. They had confidence that they had discovered the challenges they need to tackle, and worked out these challenges with the Totem team as a partner who ensured that they understood the entire process, utilizing their industry experience. With the concept, application, and strategy validated, the clients were able to continue with development.