hit counter

Rewards4Earth plans to launch crypto rewards for 1000 sports clubs in Australia

Even a small acceptance of the reward token could result in as much as $300 million being used to fund environmental initiatives and provide funds to clubs for the benefit of the community.

In a small coastal town north of Brisbane, Queensland, 20 members of Coolum Surf Club have taken part in a first trial of the Erth Point System, a crypto rewards platform from Australian company Rewards4Earth.

Doug Flockhart, former CEO of Clubs Queensland, the state’s community club body, spoke to Cointelegraph about how his goal is to integrate the system with over 1,000 community clubs across Australia.

Flockhart said the top professional rugby league competition, the National Rugby League (NRL), was “very enthusiastic” about the idea and for Flockhart it “validates the power of this system”. Australia’s main football competition, the Australian Football League (AFL), has also expressed an interest, he added.

Coolum Surf Club is a small community surf club that’s part of an industry struggling with declining revenues. It hopes that the crypto rewards platform will both help the planet and allow its members and the club to benefit each other.

Rewards4Earth works by users creating a wallet in an app and linking their payment card to pay for goods at participating retailers. The incentive for users are cashback rewards with cryptocurrency Erth Points based on a percentage of the amount spent. Users can nominate their local club or nonprofit to receive the same amount of rewards.

It is still early days as only 20 members have been selected to pilot the proof of concept. “Of the 20 people who used the app in the first two weeks, $106 was generated in fees to get back into the club before we even registered businesses in the area,” he said. “It was just these 20 people using the app to go shopping at their local supermarket and bring revenue to the club.”

Flockhart said this shows that even a small increase in the acceptance of the Erth Point system by its 14,000 members would increase its revenue tremendously.

If just 1,000 of their members named this club as their chosen beneficiary, projections would indicate that they would bring the club about $150,000 in annual revenue just by going about their daily shopping.

Businesses are encouraged to join and meet their environmental, social and governance (ESG) commitments through access to free marketing tools within the platform. They can also accept Erth points as payment, which, like other cryptocurrencies, can be traded for fiat on exchanges.

He added that the Erth Points system is different from others as members and the club itself usually only benefit from reward systems when there are guests in the club’s venue. Now the rewards are becoming “more global and community-focused.”

You could be shopping at a participating retailer in New York and as a result of that purchase sending money back to a club here in Australia, which in turn is also helping to heal the planet.

Rewards4Earth uses the rewards money to fund a variety of environmental causes, including plastic and ocean cleanup, endangered species protection, reforestation initiatives, and environmental advocacy.

With enough acceptance, Flockhart sees the foundation well positioned to help with her mission.

13.2 million Australians are members of clubs, if just 15% of them or 2 million got involved conservatively that could bring clubs $3 million in passive income a year plus $300 million for the Rewards4Earth Foundation, in which they can work.

Adoption was a sticking point for the system because, according to Flockhart, nearly half of Australia’s population and 50% of club members are aged 45 or over. A key finding from the initial trials suggests that “25-40 year olds are easy to get on board” but older demographics “will be harder to get on board.”

“We will provide clubs with the right resources to enable onboarding for their members,” he said. “The clubs have a vested interest in being the beneficiaries. I think that will speed up the recording instead of just waiting for it to happen.”

Leave a Comment