Reinventing VOUCHERS Can Be a Massive Boon for Splinterlands
The State of Vouchers is in a bad place, but it does not have to be.
None of this article is financial/investment/legal advice, it contains a strategic valuation analysis of speculative assets that can be subject to market fluctuations. You are suggested to seek out a Registered Investment Advisor (RIA) for all investments and the author is not an RIA. Splinterlands' Terms of Service identifies Splinterlands/Steem Monsters as not being an Investment Company. As defined by the U.S. Code of Federal Regulations, Steem Monsters (the parent company of Splinterlands) and the Decentralized Autonomous Organization (DAO) that was published by Steem Monsters can be argued to rise to the definition of being classified as Financial Institutions in the United States. This is a duty to warn and inform given that the actions to be described regard the valuation of assets and speculation of events to take place.
Vouchers, who needs them right? They are a pointless, outdated token that serves absolutely NO purpose. However, they do not have to be and this could be the token that turns the Splinterlands ship around. No, this is not a delusional and fantastical idea, it actually could be a groundbreaking development. In order to make it happen, the Splinterlands team must be willing to show confidence in the game and ecosystem to make it work. There must be a willingness to take Splinterlands beyond in-game capabilities and outside of the crypto bubble. Vouchers offer the ability to attract new players and businesses while serving as a retention tool.
Vouchers as Tradeable Rewards Points
It is a common practice for casinos, hotels, airlines, credit cards, and even banks to offer a rewards program. Vouchers can serve as a form of a Rewards issuance that can be redeemed for items of value. It rewards people for their loyalty and participation. Those who stake their SPS are able to earn Vouchers and also those who operate a Validator Node also earn Vouchers. Rewarding loyalty and forging a deeper financial and time commitment to Splinterlands through the use of Vouchers would fall in line with the way other businesses use rewards points.
Vouchers to bring Web3 Gaming into the Real World
It's easy to be caught in an in-game bubble and only focus on the business and economy of what happens inside Splinterlands, but there's a big world out there. Many different people with different motivations who may be tempted to play a game that will turn what is seemingly arcane cryptocurrency into something that is real, tangible, and earned.
- Gift Cards
- Branded Merchandise
- Luxury Gifts
Rewards do not just have to sit there in a wallet, it can actually become something that people would want in their real lives.
Vouchers to attract non-crypto partners.
Non-crypto partners would see this as an experimental partnership and a pilot program. It works on both ends as this is quite a different business for Steem Monsters as well. Being a part of the Splinterlands Rewards Mall and putting up merchandise or gift cards for sale in exchange for Vouchers is another opportunity for brand awareness and an avenue for partners to make a sale. Selling items from other companies with greater brand awareness provides a form of social proof. It also plays into the whole Play and Earn aspect of Splinterlands as these merchandise items are the culmination of reaching a goal.
These relationships can become two-way relationships where smaller partners could engage in a cross-promotional effort with Splinterlands
Better business relationships, greater social proof, and improved retention are all things that could result in growing the ecosystem.