⁉️FAQ
What is ShopNEXT?
ShopNEXT is a Web3 loyalty platform, which aims to bring millions into the Web 3.0 world through daily spending and also helping merchants to grow their businesses.
How does ShopNEXT work?
Users can link their VISA cards to ShopNEXT mobile app and earn STE on daily spendings. They can also shop NFT cards from a marketplace to boost their earning. Moreover, users can spend their earned STE for gamifying activities with the NFT Cards such as minting, boosting and recharging.
Who is behind ShopNEXT?
ShopNEXT is led by an experienced team in both eCommerce and crypto. Powered by VISA and BNBChain, ShopNEXT wants to bring the most benefits for users and merchants through the ingenious Shop-To-Earn model!
Is it free to join?
Yes. ShopNEXT offers a 7-day trial where users can link their VISA cards for free and experience the app. After this period, users can opt to become an official member or unlink the card and leave, no string attached!
Do I have to buy an NFT Card?
Not necessarily. You can already earn some STE as a MOONer in every transaction. But to get more rewards and play some fun, you should try to get one NFT Card and enjoy minting, recharging, boosting activities.
Where can I buy an NFT Card?
From ShopNEXT’s in-app marketplace. This is an on-chain marketplace, meaning all transactions are happening on the blockchain between users’ wallets.
Is ShopNEXT's business model sustainable?
ShopNEXT is building a real business model combining the best of eCommerce, crypto, NFT and gamification. We bring the benefits for users by rewarding them tokens, for merchants by growing their revenues. From this, we earn some sales commissions from merchants; besides revenue from the marketplace (trading) and gameplay (recharging, boosting, minting). On a macro scale, this Shop-To-Earn model will support the whole economy by boosting consumer spending.
What is STE?
STE, stands for Shop-To-Earn, is the rewarding token of ShopNEXT. STEs are minted when people spend with their VISA cards and they are burned through gameplay activities like recharging, boosting, and minting NFT cards.
What is NEXT?
NEXT is the loyalty token of ShopNEXT. Users need NEXT to upgrade membership as well as engage in in-app gameplay. NEXT is also the currency in the marketplace. At a later stage, NEXT can be used to reward our users when shopping at our partnered merchants.
How does ShopNEXT contribute to the global economy?
Consumer spending is the catalyst for economic recovery and growth. The ShopToEarn model is expected to encourage users to spend more as they can earn tokens from that!
Do I need to select the right NFT card before making any payment?
Yes, we have 12 card categories which cover almost every merchant on the market. Users will have to choose the correct NFT cards corresponding to the merchants in order to earn more STE rewards. Otherwise, they can only earn STE as a MOONer.
What is the daily cap for MOONer membership?
As a MOONer, users can earn up to 1 STE per day. Users can increase their daily account cap by collecting more NFT cards.
Is there any limit of how many card cases I can redeem?
No. Once you can accumulate enough STE, you can redeem them for an equivalent card case.
Card case level 1: 100 STE
Card case level 2: 300 STE
Card case level 3: 500 STE
Card case level 4: 1000 STE
Am I earning interest on my locked NEXT for MOONers?
Yes, besides being able to open NFT card cases and engage with ShopNEXT gameplay, MOONers can earn a fixed 8% APR on their locked NEXT.
Will I earn STE rewards if I linked my cards to e-wallets and make payments via the wallet?
No, since we cannot check VISA MCC through e-wallet payment system. Users have to spend using the VISA card directly to earn STE rewards.
What is External Profit Pool (EPP)?
ShopNEXT will issue a first-ever external profit pool (EPP) to insure the issued STEs. All the profit from potential business (affiliate business, interchange fee, merchant commission) will be stored in the EPP to back all STE tokens issued on the market. The purpose of the EPP is not to make STE a stable coin but to make sure every token has an intrinsic value which is generated by our users through their shopping.
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