Stephen F. Austin University Debuts First Blockchain Rewards Program
20 Feb, 2019By: Michael Popke
Although blockchain technology — a system in which a record of transactions is made in a peer-to-peer network — is more advanced in the financial services and transportation and logistics sectors, the technology also is ripe for the fan rewards segment.
First to jump on the blockchain bandwagon in that capacity is Stephen F. Austin University, which recently launched the Token Club. The only one of its kind in college sports, according to university officials, the Token Club offers digital tokens to participants in exchange for buying tickets to and attending sporting events, and ives them the potential to win a variety of prizes.
“Part of our mission is to promote innovation and collaboration within our community as it relates to athletics,” SFA soccer coach Wally Crittenden, who oversees the club, told The Pine Log campus newspaper. “As such, we created a rewards token that is unlike any other in the country, not only in being housed on the blockchain but also in its user utility. You can earn rewards for attendance at events or buy rewards if there is a benefit you would like to redeem tokens for but don’t have enough. You can even send tokens to your friends to help them out as easily as you send a text.”
According to The Pine Log:
With these tokens, members can get discounts on SFA merchandise, as well as benefits which include members-only tailgating, seating and discounts on tickets and merchandise. In addition to SFA-related perks, the [Lumberjack Sports Institute Division of the Stephen F. Austin University athletics department] will be introducing vendors to the program that offer their own items.
“Vendors are very excited about including this in their sponsor packages,” Crittenden said. “We will be working with our rights partner to activate those sponsors by mid-summer, so everything is in place for the official fall launch.”
On top of regular tokens, there is also a golden token that is sent to participants at random, allowing special perks not available to everyone.
“The fan that gets this random drop will have access to premium benefits like great prizes, bench seating at games, travel with teams and any other priceless experience we can design,” Crittenden said.
In order to send and receive tokens, members need to download and create their own TronWallet. The athletic department partnered with this program due to its low fees, user security and experience. Creating and using TronWallet is free and safe for users, and it will remain as the official wallet of the club after the official fall launch.
Membership in the Token Club is free for both alumni and students, and more information can be found at www.sfasportscience.com.