Redeem is a new platform that consists of exchanging or sharing NFTs through telephone numbers. In this NFTexpress article you will learn what it is and how to use it, since it is currently only available for some countries.
What would you think if I told you that there was a way to exchange or obtain NFTs using just a phone number? Redeem, aims to be the next innovation platform to enable this, and has already raised $2.5 million to get this NFT-centric project off the ground.
The mission of Redeem is to help users to exchange or obtain different digital collectibles through the most popular messaging applications such as WhatsApp or SMS.
This new application is based on a blockchain connectivity layer that will allow users to send and receive digital assets using only their phone numbers. The idea is that people will connect their digital wallet to their phone number and get items from a game, digital tickets and other assets via QR codes that are automatically generated by Redeem.
One of the founders, Toby Rushspoke about this new idea he had and said that the ability to create and own assets outside of traditional applications like Apple, Google or Ticketmaster, and at the same time, gain people’s trust, is the biggest promise of Web3 services. He then added that the power of this new technology can be made accessible and familiar to the masses. That is why the Redeem platform is being built.
Redeem is trying to bring a service that retains what is familiar to people, i.e., their phone number, and can be linked to the innovation of blockchain technology such as cryptographic wallets.
Bringing these two verticals together enables users to more easily store, send, receive, access and use their digital assets anywhere.
How this new application works
First, a QR code must be scanned to generate an SMS message. Redeem calls this the perfect onboarding, as it takes only two clicks and five seconds for a user to join without the need to download an app or fill out a form.
In addition, its use can be intended for PoS, IRL or online. This is called frictionless redemption due to the fact that it allows users to redeem tickets, rewards and memberships at different endpoints by scanning the QR or using their phone number.
Also, multiple wallets can be accessed with one identifier. In other words, the NFT utility in the wallets allows users to link any wallet to their phone number, providing flexibility and convenience never seen before in the NFT ecosystem.
Finally, sharing and receiving NFTs by text message is the most innovative utility so far of this 2023, since, users will be able to exchange digital assets using tools and services that they already know and are familiar in their daily lives such as: SMS and WhatsApp.
What Redeem seeks to solve
Redeem’s founders have seen that users do not want to change the usual behaviors they have when interacting with new technologies, nor learn new systems. Consequently, Redeem links digital assets to tools that everyone knows without the need to be 100% familiar with Web3 or NFTs.
On the other hand, they have investigated that users trying to enter the blockchain ecosystem feel that services are scattered and disorganized. For example, there are multiple wallets, which work with certain platforms, passwords for each of them and registrations are often overwhelming for those who are just starting out.
With Redeem, the founders want to make the journey to Web3 seamless and user-friendly.
At the enterprise level, Redeem wants to make collaborations between brands simpler, as it eliminates the complexities that exist in current processes, understanding that end-to-end technical integrations are increasingly laborious.
Another important issue Redeem wants to address is fraud and data integrity. While, it doesn’t seem safe to provide your phone number to a company, it wants to make sure that the merger between phone numbers and the blockchain results in perfect attribution, i.e., no bots or fraud, since, they are real numbers of real people.
Redeem also wants to be the gateway for creators and provide an opportunity for artists to explore new tools while retaining the desired reach.
In addition, it wants to focus on customers’ worlds, i.e. the physical world, digital, games, Web3, the Metaverse and more. With this platform, everything will be accessible with just the phone number and a QR.
Who are the founders of Redeem
As I mentioned earlier, one of the founders of Redeem is Toby Rushan industry professional with over twenty years in technology experience. He currently serves as CEO of Redeem, but was previously CEO of ZOLOZ, an Alibaba digital identity platform.
He also co-founded and led Rush Tracking Systems, a company that provides RFID and computer vision solutions. Toby graduated from Kansas State University with a degree in Engineering and is currently living in Kansas City.
Redeem’s other founder is Kenny Conklin IIIan executive who helps manage businesses as a C-level officer. He is also a board member, advisor and investor.
At Redeem, he is serving in the role of operations manager to achieve Web3 unblocking using telephone numbers.
Previously, Conklin was president of Analytico Trading, Inc, a cryptocurrency marketplace and chief operating officer at Azimuth Zero, and the same position was also held at Farmobile, an agricultural technology startup.
Finally, he trained out of college as a financial analyst at Bank of America and holds a Master’s degree in Computer Science from the University of Kansas, a Bachelor’s degree in Economics and Business from the same University. He currently lives in Kansas City.
NFTexpress provides educational information on finance and NFTs. However, we are not financial advisors and our opinions should not be construed as investment recommendations. It is always important to do your own research before making financial decisions. NFTexpress is not responsible for financial decisions made by users.
Written by Rodrigo Catalan (TW: @RodrigoCatalanB) for NFT Express.