New play-to-earn app Phaver rewards great recommendations with crypto tokens and shared ownership
We live in a world where the buying tendency of consumers depends mostly on reviews & recommendations. This impact has, however, led to many companies paying directly for their endorsements, often without disclosing this to the consumer. According to a report, 82% of consumers have read a fake review in the last year. Yet, 93% of consumers still say that online reviews impact their purchasing decisions.
Phaver solves this dilemma by rewarding users equally for any recommendation from e-commerce products to corner cafes or digital content. Great recommendations earn upvotes that earn points, which soon transform into two types of tokens, similar to trending play-to-earn games like Axie Infinity.
Phaver’s mission of helping people make better choices arose from CEO Lintala’s personal struggle: After moving from Finland to New York to head the business development of the fast-growing AdTech company Smartly.io, he quickly got high on his own supply. With closets full of mostly disappointing clothing purchases from very convincing Instagram ads, he realized there should be a way to help others avoid the same mistakes and, in the process, buy less but better himself. After years of helping top brands advertise on Google and Facebook, he’s now making amends and working to transform how we decide what to buy or where to eat.
This vision was shared by the co-founder and CFO Tomi Fyrqvist , after years at Goldman Sachs and in venture capital had found himself in the leadership of Daraz, an Alibaba subsidiary in south-east Asia and seen first-hand both the opportunities and challenges social commerce brings. Tomi’s strong blockchain experience, advising companies like Equilibrium Labs and Tesseract Investment, brought the final piece of the puzzle and eventually crystallized as the best way to make the platform a success.
The app itself, now in limited beta on iOS and Android, is built around communities of like-minded users. They bring together the people looking to share and discover recommendations in a unique way and bring a ready and receptive audience to anyone willing to share, not just those with large existing followings. While the token and DAO launches are being worked on, it’s already worth it to join, as the current Expert Points will be redeemable for the new tokens at a very favorable conversion rate.
Phaver (https://phaver.com/) is a web3 social app that helps people make better choices by rewarding them for the quality of recommendations instead of sales. Join like-minded people and collect the best things together, whether it’s fishing gear, beauty products, or burrito joints.