When I first saw this the other day I thought I had missed another logistic token, but the name has nothing to do with shipping or logistics. This is a shopping app to help shoppers earn tokens whilst shopping. Originally what caught my eye besides the name was the so called partnerships the token has. This token does not fit into my portfolio even though it is a service related token, but that could also be pushing the "service" related word a bit far.
I presume this may actually do rather well especially for those who are not already in crypto as this could be their first crypto they ever own. We all have to shop and earning whilst shopping may catch on even though I like most males want to be in and out as quickly as possible and not be playing around with an app.
If some of you have been around Hive for a while you will remember the Hunt token which paid you tokens for reviewing products. Hunt was not exactly a great experience as many of the products reviewed were how can we say it below par. Well this is what SHPing is a review token only where companies pay consumers for watching videos and writing reviews. There is also a scanning component which I presume is to show you have purchased the product and possibly to redeem rewards at the till/paypoint.
I can understand why companies would get involved in something like this as this is another marketing avenue, but not somehting I would be tempted in. The price however has been pumped over the last week rising considerably by around 50%.
The SHPing token has 1.7 billion is it's circulating supply and I see this as nothing more than a glorified coupon earning crypto. I know coupons are big in various parts of the world, but I am not interested in this type of thing and struggle to say this has a genuine use case which it does sadly.
SHPing is a glorified reward app where you are paid in tokens for helping to market the products of the partners/companies involved. This may appeal to shoppers who are looking to get food on discount etc so it may be a worthwhile investment long term, but not something I could get involved with.
If we look at the entire crypto market everything is down by a good 90% and if you were going to invest anywhere I can think of hundreds of projects ahead of this one. I may be overly negative on this as I was hoping the project was something else and it was exactly the opposite when I saw the partnerships.
Personally I think long term most of these household name companies will have their own tokens and wont be using a third party for marketing. This space with Enterprise tokens which will be used to harness brand loyalty is something that will only grow over time and places like SHPing may or may not be around within 5 years. Store loyalty cards are more convenient and can be redeemed there and then without having to work for it.