Since its launch in 2016, HOOCH has expanded its ecosystem across the U.S. and incentivised its members via Tap Coin, a blockchain-based technology.
Originally launched as a way of making the bar and nightlife scene more affordable, HOOCH has found widespread appeal on the strength of once very simple proposition: enjoy one free drink everyday for just $9.99 per month.
As reported by Bitcoin Exchange Guide, HOOCH now has over 200,000 subscribers across the U.S. and has recently launched a new exclusive service, Hooch Black, for those looking for the ultimate lifestyle. So, with its latest Tap Coin and Tap Token technologies, does the future of bar-hopping belong on the blockchain?
What Is HOOCH?
At its launch in 2016, HOOCH was the first-ever subscription drinks app, offering members one free drink every day at top bars for just $9.99 per month. Although the HOOCH app is free to download and try, the $9.99 subscription fee entitles every member to thirty-plus free drinks every month. HOOCH is currently live in ten cities around the world from New York to Hong Kong and is constantly expanding. Its members can redeem their free daily drink at a selection of bars and restaurants that choose to partner with HOOCH.
Why Has HOOCH Ventured Into Blockchain Technology with Tap Coin and Tap Token?
The HOOCH ecosystem is powered by blockchain technology and HOOCH members can use Tap Coin, a digital tool, to pay for purchases.
According to TechCrunch, this blockchain-powered payments platform has helped HOOCH provide life-changing experiences in the world of hospitality. Tap Tokens allow HOOCH users to earn rewards with every purchase, buy drinks for friends and gain access to VIP experiences.
According to Revelis Capital Group, HOOCH has raised over $7.5 million in venture funding to date. This blockchain initiative follows the announcement of HOOCH BLACK, a premium membership tier.
What is HOOCH BLACK?
This members-only club offers exclusive discounts and services worldwide including travel deals, dining perks and invite-only events. According to HOOCH’s official site, Black members can save upto 60 percent at over 100,000 hotels worldwide. BLACK members also benefit from a concierge service run through the app and have access to some of the most sought-after events around the world including the Grammys, Coachella, and Fashion Week. Besides being able to explore venues that aren’t available to regular HOOCH members, BLACK members can experience mixology classes, private wine tastings and even celebrity chef pairing.
What benefits do HOOCH members receive from using Tap Coin?
HOOCH’s decision to integrate Tap Coin into its payment system has clear benefits for its members. Tap Coin has its own loyalty reward program that rewards HOOCH members everytime they use their tokens to pay for drinks. Every hospitality purchase made via credit card will earn members Tap Tokens. Blockchain technology makes it possible to redeem these tokens for hotel rewards, drinks or food and even send them to any other HOOCH member from anywhere in the world. According to Revelis, members who choose to share their purchase data with beverage and consumer brands will receive revenue in the form of Tap Tokens. Consumer data is encrypted so only HOOCH members have the ability to grant specific brands access to their purchase history.
How is blockchain technology helping to drive HOOCH’s growth?
As all Tap Coin transactions are recorded on a blockchain, the HOOCH blockchain initiative is creating a immutable record of consumer purchase and preference data. Brands are keep to access this data in order to spot current trends and predict future areas of growth. Consumer and beverage companies are willing to reward HOOCH members for their participation and this is in turn helping to attract new members to the HOOCH ecosystem. Tap Coins can help businesses of all sizes to increase customer loyalty and improve revenue by learning more about their customers. Research has shown that consumers rarely venture into a bar for just one complimentary drink, making HOOCH a great way for any business to increase its revenues.