Sweet (NFT Platform)
Sweet (NFT Platform)
Sweet’s blockchain agnostic platform leverages multiple chains, each for the right use-case, allowing Sweet’s enterprise clients to create holistic, long-term NFT strategies that attract both high-end crypto enthusiasts as well as everyday loyal fans.
Overview
The Sweet team has developed technology that can be used by artists and consumer brands to create unique, one-of-kind digital merchandise (“digital collectibles”) or Non-Fungible Tokens (NFTs) for fans and consumers.[3]
To ensure each digital collectible’s unique authenticity, Sweet uses blockchain technology to demonstrate rights ownership and authenticity. This is similar to receiving a “certificate of authenticity” with unique physical merchandise like a signed baseball card. [7]
Sweet’s scalable NFT platform is democratizing NFTs and creating broader ways for retail and consumer brands to offer digital collectibles to their users.[2] Sweet has strong traction in the entertainment and consumer brand communities with over 600 artists and brands live on the platform and thousands of NFTs in the queue for worldwide fans and collectors.[3]
The Sweet platform includes a mobile blockchain wallet for iOS and Android. It is a one-stop shop for collecting, owning, and trading unique digital collectibles from favorite brands and artists. The UI offers users the full experience of community as they interact with others and trade their collectibles. [1]
Sweet creates the definition for each collectible series on the public blockchain including the total number available and the collectible images.
Once committed to the public blockchain, the series cannot be edited or changed by any party including Sweet.[3]
Background
Customers can be ranked based on customized parameters defined by a brand.
This can include actions like tweeting about the brand, referring friends, checking in at stores, for example.
Brands have the option of communicating with top-ranked customers through rewards and customized promotional campaigns.
Pricing is subscription-based starting from $299/month for small brands and varying with the number of customers or fans the brand has.[3]
Brands have the flexibility to bring digital merchandise to market in various ways using Sweet’s solution including: for making purchase on an existing e-commerce stores, bundled with physical products via QR codes, as social giveaways via web-based reservations, and also as rewards for completing actions such as streaming a song on Spotify or Apple Music.[11]
Tech
When a user obtains a collectible within a series, a specific collectible/NFT is created by Sweet platform which has a distinct sequence number.
The sequence number of the collectible never exceeds the total inventory requested by the brand for the series.
As a platform feature, users can choose how to display their owned digital collectibles in a virtual “trophy case” for others to view.
This virtual trophy case can be fully customized by users and can be displayed within a public profile on the mobile app and on the web.[11]
Users can also choose to optionally add narrative and other metadata text to each collectible, explaining how they obtained the collectible and why it’s special to them.
The virtual trophy case can also be put into “display mode” for projection on TVs and other displays for the enjoyment of others.
The platform also allows brands to add additional utility to the collectibles where proof of ownership can grant users personalized benefits like VIP access at a concert or event.
Sugar Loyalty Reward Points
Sugar is Sweet’s loyalty reward units used to reward users for engaging with the platform, making purchases, and performing user actions, and used by users for redeeming rewards on the platform.[7]
Sugar is just like ‘loyalty points’ or a ‘mileage program’ where users can earn and redeem Sugar like they would normally with points or miles, but as stated by Sweet it is branded as Sugar to be used on the Sweet platform.
Users may be able redeem Sugar for rewards offered on the platform by Sweet or brands and for other features on the platform.[1]
Users can in some cases also pay when they want a reward that requires more Sugar than they have or want to use.
Brands may offer various rewards that are not typical services provided by the brands.
A decision by a brand to offer a brand reward is at the discretion of that brand.
Likewise, the decision to redeem Sugar towards a reward or on the platform is at the discretion of the user.[3]
Sugar received from Sweet can be used to redeem rewards offered by that brand or for rewards offered by other brands or Sweet.
Receiving or purchasing of Sugar does not provide the user with any rights with respect to Sweet or brands or their respective revenues or assets, intellectual property or other financial, ownership, or legal rights.[11]
Partnerships
Shopify x Sweet
In May 2021, Sweet announced the partnership and integration of its NFT distribution platform into the Shopify marketplace in order to empower brands, shop owners, and IP holders to sell NFTs through existing online store-fronts. The introduction of Sweet into the Shopify platform enables global retail and entertainment brands to be able to capitalize on the growing demand for NFTs alongside keeping consumers in their own branded checkout experience.[3]
“To date, NFTs have been primarily sold through third-party crypto marketplaces, forcing brands to make the hard choice of directing consumers to an off-brand experience.
Additionally, broader consumer bases want to buy and own NFTs but are confused by complex and intimidating blockchain wallet setup, and don’t know how to get started.
Now anyone can get into the NFT game through the familiar Shopify checkout experience, furthering Sweet’s commitment to brand partners by prioritizing the consumer experience.”
said Tom Mizzone, CEO and founder of Sweet.[3]
Bitcoin.com x Sweet
In February 2021, Sweet partnered up with Bitcoin.com and announced the launch of a highly-scalable Non-Fungible Token (NFT) platform for the broad distribution of digital collectibles and digital merchandise.
Leveraging Simple Ledger Protocol (SLP) and the Bitcoin Cash network, blockchain digital collectibles provide consumer and entertainment brands with an opportunity to drive new revenue, create one-of-a-kind consumer experiences, and increase consumer engagement to unprecedented levels.
Team
Tom Mizzone - CEO
Nathan Elliott -**** EVP of Engineering & Co-Founder
Kenneth Ellis - CTO
Zac Sebo - VP of Business Development
Andrea Wagner - VP, Partner Growth
Michael Rosenblatt - EVP of Partnerships
Betsy Proctor - Global Head of Partnerships
Peter Keiser - EVP of Marketing
Dave Worth - VP of Technology[2]