Project Venkman to Launch Brand Loyalty and NFT Platform on Acala
Thursday, November 25, 2021
theCHIVE Set To Debut to 10 Million Monthly Users
AUSTIN, Texas, Nov. 17, 2021 /PRNewswire/ -- Project Venkman, an e-commerce engagement solutions platform, is announcing Acala as its technology partner for launching a portfolio of enterprise engagement solutions. Acala is the leading blockchain platform built on the Polkadot network, co-founded by a team of engineers based primarily in New Zealand.
Venkman and Acala's partnership will begin with a loyalty and NFT platform built for Venkman's first client, theCHIVE, and its 10 million monthly active users based primarily in the United States. theCHIVE has a robust e-commerce business, having generated over $400 million in revenue to date. Venkman and Acala will continue rolling out e-commerce engagement solutions to additional clients and brands over the coming months.
Venkman is coming off its recently announced launch, with the goal of rethinking how brands evolve outdated loyalty points models and drive consumer retention. The startup was co-founded by executives of theCHIVE, the online community known for irreverent content and merchandise partnerships with celebrities such as Bill Murray, Chris Farley, and John Daly.
Enterprise rewards programs, Venkman's focus, have historically been deliberately opaque, deterring redemptions and undermining consumer engagement. Using emerging blockchain and NFT technologies, Project Venkman will provide businesses with branded community crypto tokens and treasury management tools to design incentive programs that are transparent and deliver users tangible rewards for their purchases. Project Venkman will also offer clients the ability to create digital collectable NFTs to integrate into community engagement programs.
"We're pleased to partner with Acala and work across the Polkadot ecosystem to bring a new class of rewards to brands and communities around the world," said Gavin Gillas, CEO of Project Venkman. "DeFi brings so many opportunities for consumers to own their loyalty rewards and we're proud to collaborate with Acala to make this happen for millions of users in the coming months."
Project Venkman selected Acala as its technology platform due to its compatibility with Ethereum technology, ability to customize for all of Venkman's current and future client needs, low transaction costs, ability to perform at scale for millions of users, and high performing engineering team. Acala's network launch is expected in late 2021, and theCHIVE's integrations will begin rolling out in the weeks following Acala's launch.
In the coming months, theCHIVE members can expect to receive new digital wallets to earn community tokens and participate in its NFT offerings. Chive users will be able to accrue tokens for purchases, content uploads, comments or time on site, among other actions. Tokens can be redeemed for merchandise credit, access to exclusive sales or events, or digital rewards.
ABOUT PROJECT VENKMAN
Project Venkman is an e-commerce engagement solutions platform helping brands reimagine how they acquire and retain customers. Leveraging emerging blockchain and NFT technologies, Project Venkman brings transparency to the historically opaque ecosystem of consumer rewards programs and enables brands to drive customer acquisition and retention. To learn more about Project Venkman and how we can empower your brand, visit us at venkmanholdings.com.
Media Contact:
Debora Lima
press@venkmanholdings.com
ABOUT ACALA
Acala is a next-generation blockchain platform built on Polkadot. The network is scalable, Ethereum-compatible, optimized for DeFi and NFTs, and powered by micro transaction fees. Acala was founded in October 2019 and has backing from Coinbase Ventures, Digital Currency Group, Pantera Capital, Polychain Capital, and other top firms. The team behind Acala is distributed across New Zealand, China, Europe, South America, and the United States.
Media Contact:
Dan Reecer
media@acala.network
View original content:https://www.prnewswire.com/news-releases/project-venkman-to-launch-brand-loyalty-and-nft-platform-on-acala-301427254.html
SOURCE Project Venkman
|
|
|
|
|
 |
Asetek - Mandatory Notification of Trade | Jan 22, 2026
|
|
BC.GAME to Host "Stay Untamed" Night During Abu Dhabi's Packed Web3 Summit Week | Jan 22, 2026
|
|
Tomorrowland Brings the Magic to Shanghai for a Spectacular First Indoor Edition in China | Jan 22, 2026
|
|
Rent Manager Earned Best Real Estate Software Product Award and Multiple Review Badges from G2 Platform | Jan 22, 2026
|
|
Auburn University's Applied Research Institute Expands Advanced Manufacturing Capabilities with CF3D Enterprise Cell | Jan 22, 2026
|
|
California Divorce Mediation Center Unveils Modern Website Redesign | Jan 22, 2026
|
|
AMPERA ANNOUNCES LOCATION FOR GLOBAL HEADQUARTERS | Jan 22, 2026
|
|
Immutable Announces First Co-Founder-Hosted Live Webinar: How to Dominate Your Steam Launch | Jan 22, 2026
|
|
Gemmy Alerts Customers: Fake Websites Target Holiday Decorators | Jan 22, 2026
|
|
Culture and tourism sectors thrive in Xiamen | Jan 22, 2026
|
|
|
