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FAQ
Users can link any VISA cards to ShopNEXT mobile app and start to earn token rewards by shopping at millions VISA supported merchants. There are also in-app gameplay and a marketplace of NFT cards, which are used to boost earnings. With ShopNEXT, everyone can shop, play and earn all at the same time. Check How to play for step-by-step guidance to start.
STE, stands for Shop-To-Earn, is the rewards token of ShopNEXT. STEs are minted when people shop with their VISA cards and they are burned through gameplay activities like recharging, boosting, and redeeming NFT card cases. You also can withdraw the earned STE and sell it on the exchange.
- Is STE unlimited supply? Yes and no. Theoretically, we can mint it more to reward users on their shopping. But we expect users to use their earned STE to redeem NFT card case so basically most earned STE will be stayed in our gameplay and finally burned. Moreover, users need to use their STE to engage with our gameplay via boosting and recharge NFT cards, these STE will also be burned finally. Thus, STE supply will be increased over time but at a steady rate when our ecosystem grows.
- Will STE price head to zero over time? ShopNEXT can generate economic revenue through shopping activities. To strengthen our uniqueness, we define the first-ever term called External Profit Reserve (EPR). All the profit from potential business (affiliate business, interchange fee, merchant commission) will be stored in the EPR to back all STE tokens issued on the market. The purpose of the EPR is not to make STE a stable-coin; it is to make sure every token has an intrinsic value that is generated by our users through their shopping.
- Where is STE traded? Currently, it is listed on PancakeSwap: https://pancakeswap.finance/info/pairs/0x1d768a3d0ae338fceeb3986ee0cea558800cbc55
- What is withdrawal limit of STE from ShopNEXT app? 1000 STE for earning balance, no limit for spot balance.
- Where can we check STE info? CMC: https://coinmarketcap.com/currencies/shopnext-reward-token/ CGC: https://www.coingecko.com/en/coins/shopnext-reward-token
NEXT is the loyalty token of ShopNEXT. Users need NEXT to upgrade membership as well as engage in in-app gameplay. NEXT is also the currency in the marketplace.
- What is the total supply of NEXT? 100,000,000
- Will NEXT be burned? Yes, we are collecting a small fee in NEXT every time users boost or recharge NFT cards and these NEXT will be burned. So over time, NEXT will become a deflationary token.
- Where can we buy NEXT? On Gate.io: https://www.gate.io/trade/NEXT_USDT On PancakeSwap: https://pancakeswap.finance/info/pairs/0xad7044e5f0cf311b89bb90397aa6f668f37dbd5e
- Where can we check NEXT info? CMC: https://coinmarketcap.com/currencies/shopnext-loyalty-token/ CGC: https://www.coingecko.com/en/coins/shopnext-loyalty-token
Yes, all users are allowed to link their cards to the mobile app to earn STE rewards on every payment. Normal users can only get rewards from Limited Partner merchants whereas MOONers can earn rewards from all VISA accepted merchants and enjoy other exclusive benefits. See details here.
Reward index is a score parameter applicable to MOONers which have at least 1 NFT Card. This parameter will depend on the number of NFT cards and types. This parameter helps users earn more STE on each transaction. Read more here.
There are 3 ways to get an NFT card:
- 1.You can buy an NFT card on ShopNEXT’s in-app marketplace. This is an on-chain marketplace, meaning all transactions are happening on the blockchain between users’ wallets.
- 2.You can use the earned STE to redeem NFT card cases. Then open a card case to get an NFT card.
- 3.You can join ShopNEXT airdrop campaign to have a chance win an NFT card case.
A Visa transaction can normally take up to 48 hours to be recorded in the system. Over that period, please contact our Customer Service in the Linktree to get further support.
- Visa-card deals offer STE bonus when making payment using Visa cards.
- Affiliate deals offer STE bonus when shopping by clicking affiliated links inside the mobile app.
- Voucher deals offer STE bonus when purchasing vouchers inside the mobile app.
ShopNEXT will issue a first-ever external profit reserve (EPR) to insure the issued STEs. All the profit from potential business (affiliate commission, interchange fee, merchant commission) will be stored in the EPR to back all STE tokens issued on the market. The purpose of the EPR is not to make STE a stable coin but to make sure every token has an intrinsic value which is generated by our users through their shopping.
NFT cards are an utility NFT collection created by ShopNEXT on BNBChain. NFT cards help owners earn more STE rewards when shopping at Visa-accepting merchants and increase the reward index. See the extra reward calculation formula here.
- Earning: Determine how much STE owners can earn (vary from 1 to 100). Earning can be increased by boosting.
- Karma: Determine how lucky the owner is in opening card cases (vary from 1 to 100). Karma is fixed and cannot be increased by boosting.
- Capacity: Determines how resilient the card is (vary from 1 to 100). Capacity is fixed and cannot be increased by boosting.
- Power: Determines the energy level of each card. An unused NFT card will have 100% power which will be decayed after every usage depending on its capacity point. There are 4 types of NFT cards that are defined by their earning parameters and 10 different NFT card categories that cover all common shopping areas.
There are 4 types of NFT cards that are defined by their earning parameters and 10 different NFT card categories that cover all common shopping areas.
Users can obtain NFT cards by:
Note: All users can own NFT cards but only MOONers can apply them to earn extra STE on shopping with Visa cards.
NFT Card cases are NFTs that, once opened, reveal NFT cards. Depending on the card case level and the average karma, users will have the different possibility of receiving different card types and categories in the opening.
There are 2 types of NFT card cases: by airdrop or redeemed by earned STE, which can only be opened by our mobile app. See detailed descriptions how to open the card cases here.
MOONers are VIP members of ShopNEXT who can earn the most benefits from our ecosystem. Users are required to lock $300 in NEXT to upgrade the MOON membership. MOONers can earn STE rewards at all Visa accepting merchants, have 20% extra base reward, and be able to receive exclusive shopping vouchers.
Yes, you can try affiliate and voucher deals in our mobile app. See details of these deals in the Partner deals section.
STE rewards will be calculated differently for Visa-deals, voucher deals and affiliate deals. More than that, when users are able to apply NFT Cards on the deal, they can earn extra rewards.
We have 4 main revenue streams:
- NFT marketplace transaction fee: we charge 5% in $NEXT for each NFT card transaction on our marketplace.
- NFT in-app engagement: Users need to pay $NEXT and $STE to boost, recharge, redeem and open NFT cards.
- Merchant’s sales commission: Merchant partners will pay us a sales commission when ShopNEXT's users have transactions at their stores.
- Interchange fee: Card issuers will pay us an interchange fee for each transaction.