FortunX (previously ThanX Finance)

A Shop-to-Earn browser extension powered by the $THANX token. A free to use reward & loyalty platform with 30+ global brands like Booking.com, PUMA, SafePal and AliExpress.

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Intro

ThanX is a rewards & loyalty platform with a Shop-to-Earn model built on the TRON blockchain.

Inspiration

For us crypto means freedom, power and hope which we want to share with everyone. Although we believe crypto and Web3 are the future, it’s not easily accessible. To onboard more users we need solutions people can easily use every day without prior knowledge or money investment.

We saw online shopping as an incredible opportunity where we could revolutionize the point-based loyalty programs with the power of blockchain. While we connect brands with customers using Web3 tech, we can slowly pull them in and accelerate crypto adoption.

What it does

We make it easy for users to earn & own crypto by shopping online, and to cash-out from crypto via gift cards.

Our solution encourages wider adoption by lowering the barriers to get into & use crypto. Moreover, we also help merchants to engage with crypto communities, join web3 and grow their businesses.

How we built it

Our product is a web-based extension available in Chrome and Firefox browsers built with Angular v14. It has our TRC20 $THANX token integrated and when users earn cryptoback they receive the $ amount worth of $THANX. The exchange rate is calculated based on real time value, pulled via an API from blockchain data using https://api.just.money/v1/summary.

Users can use our extension by connecting a 3rd party wallet like TrustWallet or TronLink. They can also register via Google, Facebook or with their email, and they can automatically take part in a multi-brand reward platform to collect & spend crypto at 30+ brands currently.

The backbone of our growing ecosytem is a customized TRC20 utility token called THANX.

Token contract: TLkBTLwVtwxnW6CFDamRKTCr4sj29KDV5p

Business Model & Market Strategy

We utilize the Shop-to-Earn model. When a user makes a purchase at our partners we get a commission from them. We make money from the difference between the partners’ commission and the cashback we provide to the users, plus from the possible increasing exchange rate of the THANX tokens.

Brands and crypto projects can also advertise themselves with promotions, video ads etc. and create incentives to drive traffic.

Due to the networking effect the value of out product and services will exponentially increase and so as our revenue.

Our target market is the European region but we also have globally available brands like Booking.com, Travala and Udemy.

Unlike competitors (e.g. StormX) we offer smoother and faster reward redemption (max 5 days instead of 30-60 days), multi-chain integration and we will support offline shopping later next year.

We will also build & enhance partnerships among crypto projects by incentivizing users to use their solutions or services like buying NFTs etc.

Challenges we ran into

  • Onboarding partners and integrating their systems into ours
  • Making a totally customized TRC20 token with vesting & lock period
  • Self-funding the project

Accomplishments that we're proud of

  • Onboarding 30+ global partners like Booking, PUMA, Udemy, etc.
  • 3-month start-up accelerator program by Design Terminal, the biggest innovation agency in the CEE region
  • Token creation & launch on 26th October
  • Company setup, Whitepaper, Tokenomics
  • Chrome & Firefox browser extension with TronLink integration

To make this all happen the Co-Founders resigned from their full-time positions to focus on ThanX.

What we learned

Through our journey, we’ve learned a lot about Web3 and TRON in particular. At the startup accelerator program we gained valuable knowledge about value proposition, market research, go-to-market strategy, pitching, networking and sales.

We also deep-dived into fintech solutions, PSD2 regulation in Europe and even had discussions with Mastercard about open banking & card-linking tech.

What's next for ThanX

Currently, we are testing our extension and will adjust it based on our users’ feedback. We are also creating new landing pages so we can do A/B testing and set up ads on several marketing channels.

We’ll also work on adding new 3rd party wallets to our extension and we’ll develop our mobile application too.

We are planning to expand onto other chains like BSC, Polygon and Cardano and we will offer packages to our partners to join Metaverse (TuruVerse) to have their own store there.

Roadmap

2022 Q1-Q3: Business plan, Whitepaper, Partnerships, Website launch, Prototyping

2022 Q4: Token launch, Browser extension release, Startup accelerator program

2023 Q1-Q2: Mobile App launch, Going multi-chain, Exchange listings, THANX staking, New features (gift cards, video ads)

2023 Q3-Q4: Crypto cashback for OFFLINE shopping, SWAP integration, Membership tiers, THANX donation

2024 & onwards: Global expansion, ThanX Pay, ThanX & Brands NFTs, Buy THANX with fiat money

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