Incent attracted more than 1000 Bitcoins from investors in its first week of fundraising, enough to allow the project to get to market. The opening days of the crowdfund attracted 800 bitcoins and over 600,000 Waves tokens, a total of more than $600,000.

Incent have a target of $1 million but the money already collected is enough to complete development and Incent are now busy partnering with merchants ahead of launch next year.

BitScan, the crypto business behind the project has already created a proof-of-concept wallet that will allow businesses to issue Incent, a universal token of reward that acts as a form of smart cash-back. Merchants will be able to easily configure the amount of reward they issue to customers to suit their own margins. The token is designed to appreciate in value as more merchants adopt it, benefiting businesses and consumers alike.

The money invested to date is enough to complete development and integrate Incent into the first merchants’ point-of-sale systems.

‘Retailers recognize that current loyalty systems are overpriced and under-performing and are looking for something new’ Rob WIlson, CEO, Incent