The company said the Ten Million PhunToken Sweepstakes will run through the end of July and will give participants an opportunity to earn daily entries to win by engaging with content inside of the PhunWallet app.
Ten winners will be selected to receive 1 million PhunToken each, it added.
“Everyone loves to buy, but not everyone loves being sold, especially without their consent,” said Phunware CEO Alan Knitowski in a statement. “With PhunWallet and our dual token economy, we hope to give brands and consumers an innovative new platform to connect that gives each stakeholder more control over their data and compensates consumers fairly for their participation.”
PhunWallet is a cryptocurrency wallet and mobile application that supports Phunware’s blockchain-enabled data exchange and mobile loyalty ecosystem powered by PhunCoin and PhunToken, respectively.
While PhunCoin is a regulated store of value that seeks to compensate users for their data, PhunToken is intended to be a medium of exchange that promotes profitable behavior by unlocking key features of Phunware’s Multiscreen-as-a-Service (MaaS) platform that reward and measure engagement.
Capabilities of PhunWallet, which is already available for Android on Google Play, include but are not limited to:
- Manage PhunToken purchases
- Manage PhunCoin purchases made in accordance with approved exemptions such as Regulation Crowdfunding and Regulation D
- Earn PhunToken by participating in activities that promote profitable behavior, such as watching branded videos, completing surveys designed to understand purchase intent and visiting points of interest
- Discover brands, deals, and opportunities based on specific personal interests
- Opt into or out of specific audience segments that brands use to personalize data-enriched media without sharing any personal identifiable information (PII)
- Manage PhunCoin issuances identified by the MaaS Data Software Development Kit (SDK) for Apple iOS and Google Android, so third-party mobile applications can reward consumers with PhunCoin for their data
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