Incent, a ‘better than money’ universal merchant-backed loyalty platform, has raised $1 million USD for its loyalty token. To date, the Initial Coin Offering (ICO) has raised more than 1,029 Bitcoin and more than 845,440 Waves, equaling more than $1 million. The Incent token crowdsale began on October 1, 2016 and will continue until November 30, 2016 or until its cap of $5 million USD has been raised.

“The goal for Incent was to create a token of steadily increasing value, driven by organic market demand which also benefits our ICO investors,” said Rob Wilson, CEO of BitScan. “As we continue to partner with merchants to reward their customers with Incent, we look forward to seeing the value of Incent rise and to more companies recognizing its benefit as a loyalty solution.”

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Technology

Incent was created in a partnership between cryptocurrency directory and merchant hub BitScan and custom blockchain token platform Waves with the goal of making loyalty programs easy for businesses of any size to create. Unlike traditional solutions, Incent lets merchants choose their level of reward, then pools it with rewards across the network so there is no contingent liability. BitScan has already developed the proof-of-concept wallet for Incent, and has more than 9,000 merchants who accept Bitcoin in its directory, providing a clientbase for the first phase of Incent’s market entry.

Alongside its own ICO, Incent is licensing its ICO technology to offer companies a turnkey solution for crowdfunding and an immediate use case for Incent. Incent provides its technology to crowdfund new projects, providing the same functionality to other organizations launching assets on the Waves platform.

Incent’s first ICO customer is Cannabis Revolution, a project focused on the emerging legal marijuana movement in the United States. Each time someone invests in the Cannabis Revolution crowdsale, which begins December 2, they will receive Incent as an added reward.