The Zilla platform and multi-cryptocurrency wallet was originally developed to provide easily digestible information on ICO’s.
However, just yesterday they announced that they will be releasing a new ticketing platform for worldwide blockchain events as an engagement play for cryptocurrency enthusiasts.
It’s clear that the original Zilla project and Zilla Coin (ZLA) isn’t going to succeed as the coin never really had a purpose and it’s almost bottomed out. From a high of .44 US in February 2018 to now a new low of .014. This pivot into blockchain events doesn’t seem strategic, it seems like a scramble to stay alive. Let’s have a closer look at the recent Zilla press release:
ZILLA users can now search for blockchain conferences and get tickets using the cryptocurrency directly from their ZILLA wallet. There are two features that set the ZILLA event platform apart from other ticketing services such as Eventbrite and Peatix.
- When users check-in to events, they can receive an airdrop of exchange-listed tokens.
- Receive Point Coins when buying tickets.
What are Point Coins?
Point Coins are loyalty points on the blockchain. Point Coins are unlisted, and are not intended as an investment, rather a gamification method to incentivise users to engage, trade, and learn about cryptocurrency without the fear of mishandling or losing cryptocurrency that are worth money.
Benefits of Point Coins:
- Attendees get Point Coins automatically sent to their wallet when purchasing tickets.
- Gain access to exclusive VIP after parties with Point Coins.
- Tweet and promote the event on social media in order to get more Point Coins.
- Get Point Coins when attending booths at events.
- Prize give away (hardware wallets, mining machines, etc) for attendees with the most Point Coins.
- Point Coins are a low risk, easy way for attendees to learn about cryptocurrency.
Hmmmm. This pivot into events is clearly a play to capitalise on that fact that there’s still a lot of interest in blockchain events as more and more keep popping up around the globe – not a bad idea. But, creating ‘Point Coins’, the use-case for ‘Point Coins’ and calling them ‘Point Coins’ – terrible ideas. It feels as though Zilla are rushed in their race against time as the Zilla token bottoms out, or they’ve simply run out of inspiration.
In my humble opinion, there are no current problems with existing events platforms, especially none that Point Coins will solve. I will eat my words if this succeeds, but it seems very unlikely at this point.
Stacey Lyons is the Marketing Director at Loyalty & Reward Co, a leading loyalty management consulting agency based in Sydney. Stacey has years of experience within loyalty, marketing and eCommerce across multiple channels and business models. Most recently, Stacey has been managing the investor, member and retailer communications for blockchain loyalty company EZToken Rewards.