Olive is proud to announce that is now possible for customers to exchange their precious points for Olive tokens at over 3,000 BBQ stores that operate in 20 countries around the world, including Korea, the United States, and Europe. The Olive Metaverse platform is an ecosystem built through OLIVE tokens issued based on KIP-7, the token standard of the Clayton Network.
Olive’s Competitive Advantage
Olive builds a point integration system that utilizes a blockchain-based metaverse platform and a point-only bank to help customers use points freely within it. The platform’s aim is to strengthen its business model to generate profits along with a continuous influx of customers, by establishing point integration services within the ecosystem.
Therefore, this new feature is a milestone towards the achievement of this goal, as users can freely exchange their points for Olive tokens. The Olive tokens are the medium that organically connects the contents and assets, users and contents, users and users, and Olive and users. The platform rewards all user activities as points to raise the users’ motivation to participate in the platform and to vitalize the platform.
The distribution channel and the ecosystem that make up each brand’s token ecosystem are based on the metaverse environment. It is easy to develop and integrate customer-friendly systems, which provides a good environment to respond to rapidly changing markets and customer trends.
Olive is making a metaverse that starts with universities, which are important customers of the MZ generation. The goal is to increase the utilization of Olive tokens and to expand the global ecosystem by making the school metaverse and Olive Wallet Web compatible with each other. By including universities, Olive is attracting more users to its platform, who will in turn earn points for their activities on the metaverse.
Olive’s Recent Partnerships
Olive’s representative F&B chain partner is BBQ Vietnam, the overseas branch which is engaged in the global sales of BBQ, the #1 chicken brand in Korea. Olive has also partnered with AC Capital and five other foreign VCs, a great deal for a newcomer in the market. These partnerships are a great starting point and might influence future partnerships. Olive has also claimed to be in talks with about 100 famous franchise companies to sign business agreements before the end of this year for F&B partners. Since Olive is the first metaverse service in the F&B industry, it will be interesting to see early adopters and partners.
So far, Olive has signed business agreements with 10 F&B companies including BBQ, VC, and universities, and developed Olive Wallet 1.0.
Future Plans
Olive plans to operate in line with the sales strategies of brands run by F&B companies with which it has signed mutual agreements. Its goal is to make customers feel practical benefits by expanding the issuance of Olive points during the event period in response to consumer purchases and by offering side menus of F&B brands ordered by consumers as promotions.
The primary focus is to promote offering food to earn customer satisfaction, securing points and customers. Additionally, developing financial instruments such as deposits or installment savings is a priority.
For overseas markets, Olive is planning to launch the same marketing activities as in Korea via overseas branches operated by F&B companies such as BBQ.
About Olive
The Olive metaverse platform is an ecosystem built through Olive tokens issued based on KIP-7, the token standard of the Clayton Network. Olive Token becomes a medium that connects the contents and assets of the platform ecosystem, users and contents, users and users,
and even olives and users. In addition, Olive Token is a means to maintain and sustain the platform ecosystem, allowing the platform to form and maintain a virtuous cycle structure.
Olive is constantly making new announcements which add to the platform and its users. Be sure to follow its social media through the following sites to stay up-to-date:
Website: http://oliveco.biz/
Telegram : https://t.me/OLIVE_PROJECT
Twitter : https://twitter.com/olivemetaverse
Medium : https://medium.com/@oliveproject