Omar Diab · Follow
7 min read · Dec 11, 2019
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The LoveChain is a social media and e-commerce platform that utilizes cutting edge blockchain technology giving users the opportunity to record, share and celebrate the key moments of and with the people and things we love.
I’m going to discuss some of the inspiration behind the creation of The LoveChain and why integrating blockchain technology is significant to the concept. I will discuss the opportunity in creating the marketplace which is also closely linked to the rewards program and offers a circular flow of value through our ecosystem, setting The LoveChain apart from other social media blockchain platforms.
I like thinking of The LoveChain as a registry of love, much like a digital version of the love locks found on bridges all over the world.
The idea of a love lock was part of our initial inspiration for The LoveChain, which will be explained further below. The LoveChain looks to bridge changing technology with romanticism through a feel good social media experience.
The LoveChain aims to be a record of all the things we love, from our partners in life to our children, our parents or best friends as well as pets, objects, places and many other things. With the application of the Blockchain, The LoveChain becomes a place where people can record their relationships. This is where the digital love lock manifests.
The hashtag #love” is the number one hashtag on Instagram with over 1.7 billion linked posts.
source: influencermarketinghub.com
Research has shown the hashtag #love is associated with images, videos and stories about the people, pets, places and things we love. On the basis of this observation, it was only fitting that “love” has its own dedicated platform where committed romantics all over the world can come together.
On the basis of the above, The LoveChain is creating a global network where the celebration of #love is the center of being.
Using the blockchain enables The LoveChain users to create an immutable record of their love. Using a cryptographic hash or signature secures each block on a blockchain, thereby creating the digital equivalent of the Love Locks. This data when uploaded has the ability to be secured permanently.
In simple terms a blockchain is a series of blocks containing data that is secured through mathematical formulas using cryptography and consensus between computers in a network that act as nodes. Once that record is created and the block is hashed The LoveChain will give the user profile a unique code derived from the hash that secures their block. A code that is an eternal record for the users to keep.
What sort of data will users be able to upload to the blockchain? While above we have explained that people, pets and objects are just some of the many things we love and would love to share by way of picture,video or chat, The LoveChain provides the perfect medium to record such things as a marriage record or a permanent store of one’s wedding vows.
The image above is a depiction of what a blockchain at a basic level looks like and how a user on The LoveChain may use their profile to upload a key record or message of their love.
We are creating a Marketplace as well
At The LoveChain we are also creating an e-commerce marketplace with merchants and affiliates providing goods and services that compliment the celebration of the people and things we love. The offering of a social media application with a built in e-commerce aspect is being uniquely developed by The LoveChain. Taking into consideration the burgeoning e-commerce space, the combination of the two only made sense, considering the emotional buying behaviour of love themed events.
Examples of such events are annual holidays dedicated to celebrating Valentines Day, Mothers Day, Fathers Day as well as the various pets days. Add to these the celebration of weddings and engagements as well as anniversaries, birthdays and any other occasion where we may want to celebrate our love for someone or something.
The global USD spend on Valentines Day is well in excess of 100 billion dollars with the United States alone spending around USD$20 billion (source: National Retail Federation). Flowers, restaurants, hotel stays and chocolates feature heavily in the global spend.
Valentines Day in Europe Total Spend 5 Largest Economies
The LoveChain at the moment has over 50 affiliate merchant relationships that include Interflora, Swarovski, Radisson Hotel group, Asics , Gabriel&Co. and Koko Black chocolates to name a few. Users can now through our website (www.thelovechain.io) purchase products from these well known brands. The platform of course will earn a commission for creating that marketplace.
We expect this list of affiliates and merchants to grow substantially. One of the objectives of the The LoveChain is to provide the love-themed marketplace to our users when something they love is to be celebrated.
In Asia, a key growth market, the love economy is evidenced by the increased adoption of Valentines Day, in addition to China’s celebration of their equivalent QiXi festival. We estimate the global e-commerce opportunity around the “Love Economy” to be well in excess of USD$200 billion per annum.
The LoveChain acknowledges that social media would not be what it is today if not for the content creators, the viewers, the commentators and the followers. Major social media platforms earn substantial revenues by having all this participation and yet give very little if anything back to their users/members.
At The LoveChain we offer an off-chain integrated rewards token which we have called the LOVR token. Users can earn the LOVR token in different amounts through platform engagement such as creation of content, viewing content and advertising, commenting and following. These LOVR rewards tokens will be available to users to gain discounts through our marketplace and also as currency to buy into different prize giving challenges and activities.
In order to give our LOVR tokens and the rewards program some intrinsic value The LoveChain will contribute a minimum of 30% and a maximum of 40% of our top line revenues to the rewards program.
For example we will offer cash and cryptocurrencies as well as prizes from participating merchants for say the top 10 posts on valentines day. Some challenges will require a buy in with the LOVR rewards token. The LoveChain team has many more innovative methods to attract and retain participation with the help of the LOVR token.
Our rewards program will be managed through the Next Genius (NG) Wallet which has been developed by members of our team and integrates payment options that include both fiat and cryptocurrency. Further developments of the NG wallet will explore flexible saving options for events such as anniversaries or weddings or any other special occasions.
The LoveChain also has a native on-chain token called the LOV token which is the actual cryptocurrency that can be used in our ecosystem and will also be used to help build the ecosystem of merchants, users, influencers and so forth. The LOV token will also be listed on numerous digital currency exchanges across geographical lines as part of the global distribution of our ecosystem.
Most social media platforms require some form of social media marketing to achieve their goals. At The LoveChain we plan to embrace this through a targeted campaign of direct online advertising as well as indirectly through a stable of social media influencers. Much of this marketing strategy will be built around key celebratory events globally. These would obviously include Vanlentine’s day, Mothers Day, Fathers Day, pet days and so on. It’s worth noting that many of these events are celebrated at different times from country to country. Further we aim to include our merchant partners in our global marketing campaigns as we build our user base.
To highlight how The LoveChain can gain popularity, a recent posting by famous Chinese actress Zhao Liying of her marriage on the Ethereum Blockchain on her Weibo account, received a massive 1.21 million comments, more than 670,000 retweets and more than 5.69 million likes.
The first recording of love on the Blockchain was that of David Mondrus and Joyce Bayo who recorded their wedding vows on the blockchain in 2014.
Recording, sharing and celebrating the moments surrounding the people and things we love has been practiced for centuries. It should be fun and pleasurable, however beyond the social aspect our love for certain people and things means more when it has endurance and legacy.
At The LoveChain the aim is to deliver on all of those. A social media blockchain integrated platform and e-commerce marketplace with an innovative rewards program and payment system.
The LoveChain is forever.
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