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The Lolli online shopping application is about to develop and is currently expanding on 900 retail sites.
CEO of Alex Adelman ad the partnership with Safeway, an affiliate of Albertson, in an interview with Yahoo! Finance on Thursday. This extension allows users to order groceries, beauty products or online pharmacy items at Safeway.com.
"We've seen a demand from users to earn bitcoin for everyday expenses like food and pharmacy," said Adelman in an interview with CoinDesk.
In addition, users still earn 3 to 5% in bitcoins through their online purchases, which Adelman sees as a "means of transporting bitcoin to the mbades". According to the company's accounting, nearly 40% of Lolli users are new to cryptocurrency.
Launched a little less than a year ago, Lolli has partnered with 750 online merchants including Walmart, Macys and Priceline. The cosmic society of Adelman, Cosmic, had been acquired by the online trading company Ebates, "so we know the traders and understand the business model."
He estimates that the average user has so far earned about 26 USD (263,661 satoshis) in bitcoins. He adds that after a purchase, the estimate of rewards is calculated between "a few minutes and a few days". However, the repayment usually takes between 30 and 90 days because Lolli has to wait until the end of the return period.
Adelman declined to share the company's revenue forecast, but said Lolli would get a percentage of each sale, which they would then share with their tens of thousands of users.
As noted above, Lolli launched a $ 2.35 million contribution in September 2018 from leading venture capital firms, including Bain Capital Ventures and Digital Currency Group.
Miniature basket via Shutterstock
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