EU buyers can receive crypto rewards for purchasing Nike products
June 3, 2020
June 3, 2020
Plutus, a London-based financial technology company, offers credit card rewards when users make purchases through Nike’s e-commerce site.
Such a process unlocks a maximum of 3% in crypto and 9% in cash rewards for the purchase value.
To receive these rewards, customers must purchase online using the Visa Plutus card. Since Plutus currently operates in the UK and the European Economic Area, reward benefits are available for purchases made with the Eurodollar and British Pound.
The rewards are created in the form of a Decentralized Pluto Loyalty Token (PLU), which is a native Plutus token hosted on the Ethereum network. In addition to the total rewards of 12%, Plutus users can also generate additional rewards by staking their PLU tokens through the Plutus app.
At the time of writing, the token was trading at $ 1.70 with a market cap of around $ 1.50 million.
By deploying Nike crypto rewards, Plutus is taking another step in its goal of bringing crypto into everyday life.
This partnership with Nike comes months after Plutus rolled out comparable functionality to major Airbnb and Skyscanner travel websites in early 2020. Unfortunately, development had to be halted due to the Covid-19 pandemic.
Danial Daychopan, Founder and CEO of Plutus, said:
“Plutus was approved as an affiliate partner for Airbnb and Skyscanner earlier this year, but all travel category programs have been temporarily suspended by the company due to travel restrictions caused by COVID-19. These two partners have been included to offer cash back rewards to qualified Plutus members. “
At the end of last year, Nike obtained the patent for “CryptoKicks” shoes, tokenized as a non-fungible token on the Ethereum blockchain. Nike also participated in a blockchain-powered supply chain trial with help from Auburn University in Alabama.