How Trueplay’s Loyalty Programs Work
The role of loyalty programs in iGaming is undeniable, as they have proven to boost retention rates and make players love your brand. How can you make loyalty programs even better? By tokenizing them through a blockchain solution. This is exactly what we do at Trueplay.
Blockchain-based gaming platforms are not new on the market. But creating them from scratch is quite challenging and requires huge investments. Trueplay’s iFrame widget takes 48 hours to install and doesn’t cost anything to implement, while it brings all the perks of blockchain to platform owners. In this article, we will explain how exactly our tokenized loyalty programs work.
Issuing your own token
To open the world of crypto tokens to your players, you first need to create your unique digital asset.
For the first three months, this token will have a stable price. After that, the token will be listed on a decentralized exchange and it will become your own cryptocurrency. Users can receive tokens in many different ways, for example:
– Token sale
– Token airdrop
– Bonuses for registration, for bringing a referral, etc
– Loyalty programs
The last option is the most interesting for platform owners because this is what makes your KPIs grow and brings you more income.
Play To Earn
It’s a unique bonus model where players are automatically rewarded for making bets. Every time the user bets, a tiny percent of your GGR pool arrives at a player’s balance.
Players are rewarded regardless of the game’s outcome, so, even if they lose they still will receive this reward. This is great for user retention and motivation, especially for those cases when players are constantly losing and get demotivated. Always having something on the balance, players are more prone to come back to the platform and play more.
You can customize the reward percent, change it whenever you want to, or even put a different percent of reward to certain game providers. In this way, you can use Play To Earn as a marketing instrument to promote certain games when needed.
Hold To Earn
It’s like a classical crypto staking, but way better. Players can deposit their crypto earnings and get a chance to multiply them. Users can choose from 3 time periods and freeze their tokens.
After the holding period is over, a certain percentage of the GGR pool arrives in the player’s account if the platform’s GGR was positive on this day. If it was negative, players receive their staked amount of tokens back. There’s no way users can lose in this game.
All the periods in Hold To Earn are adjustable. We recommend using these timing slots:
– Short: 5 minutes to 1 hour, so that players can get familiar with holding and see how it works
– Medium: 8 – 12 hours, so that players can put their tokens overnight and have an incentive to come back in the morning
– Long: 1 – 3 days, so that players may receive a more significant reward and fall in love with your brand
The Hold To Earn program is a massive tool to boost retention, as players need to come back to the platform each time they want to pick up their reward and deposit again.
What’s the value of tokenized loyalty programs?
Trueplay’s loyalty programs’ benefits are truly great as they allow platform owners to boost their KPIs and user engagement. With Play To Earn and Hold to Earn from Trueplay, you can increase your:
Average Deposit per Player
Because players receive token rewards each time they make a bet through Play To Earn, the more users bet the more crypto they get.
Bets Turnover
This KPI grows since players find out that tokens exist on the platform. Players, staking through the Hold To Earn program, do tend to spend more.
Time Spent on a Platform and Retention
Tokenized loyalty programs are more interesting than usual bonus systems, moreover, both of Trueplay’s platforms are aiming for users to stay longer or come back more often.
To wrap it up
Trueplay’s tokenized loyalty programs target user retention and help platform owners earn more by boosting key metrics. If you have more questions about our widget or want to see how it works, we are happy to connect and talk to you!