This video presents decentralized Web 3.0 Dining.Gifts business built on top of open social blockchain HIVE with Waivio.
Tutorial:
- What is Dining.Gifts?
- How does it work?
- What’s the revenue model?
Dining.Gifts is a decentralized rebates program for restaurants, and it offers multiple business opportunities for anyone to explore. No permission is required to participate.Dining.Gifts uses an open business process.
Restaurants can post their rebate offers directly on the open social blockchain Hive, and any website can index these offers and present them to their users. When users collect rebates, website operators also receive commissions from restaurants.
A typical rebate offer is a promise to pay a pre-defined reward (e.g. $5-$10) in exchange for sharing two or more photos of a dish from the restaurant.
All payments are completed in WAIV tokens which can be converted into all major cryptocurrencies, including BTC, LTC, and ETH, using a decentralized exchange that’s already built into the website.
Rebates offer many advantages for restaurants over discounts. First, they are much easier to manage, and no additional staff training is required because customers pay standard prices and receive rebates only if they make social posts with links to the restaurant.
Two photos of a dish serve as proof of sale. This is the most effective and risk-free social marketing program for restaurants today.
For users, the process of collecting crypto rebates is also simple and attractive. They take two photos of a dish and post them on a website, and cryptos will be delivered directly to their digital wallet. Unlike discounts, earned cryptos are not limited to a specific restaurant and can be spent anywhere.
Many users also find it low class to claim discounts, while receiving rebates in exchange for photos is a much easier and more satisfying process.
Waivio allows users to set up their own **https://*.dining.gifts **websites that display restaurants and available rebates in a specific area, and even filter those rebates by the type of food or experience offered by the restaurants.
For example, you can create a website https://vancouver.dining.gifts to display all the rebates offered by restaurants in Vancouver, or even https://vegan.dining.gifts if you want to display restaurants that offer vegan options. You can also launch https://mybrand.dining.gifts to align with your personal brand on other social channels.
When visitors to your customized Dining.Gifts website collect rebates for sharing photos of dishes, you earn commissions proportional to the rebates received by your visitors and followers. This is a win-win situation where you can provide great value to your audience and earn rewards along with them.
As a website owner, you will receive two types of commissions.
First, you can receive a portion of the users' author rewards, which include users' reviews, their posts, and comments which are posted through your website. You can set the percent of these beneficiary rewards that you want to receive. The default amount is 5%.
The second commission is paid by the sponsors on top of the reward promised to users. This commission is called a referral reward. The minimum referral portion paid to the website owner is 2.8%.
For example, if a sponsor offers a $10 reward for posting two photos of a dish, the customer will receive $9.50, and the site owner will receive $0.50 (5%) in beneficiary rewards for helping the customer get their reward.
At the same time, the website owner will also receive at least $0.28 (2.8%) in referral commissions directly from the sponsor.
As a result, the website owner receives at least 7.8% of what users collect.
Waivio makes it very easy to operate your own interactive social Dining.Gifts website with all restaurant listings, menus, rewards, user profiles, influencers, and news feeds.
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