PappaGrill TRC Collection
Whitepaper
The NFT Collection that Unlock Unique Reward for Community
Published on August 14, 2022
Last Update : August 18, 2022
Introduction
PappaGrill TRC (Trade & Reward Card) is a new paradigm created by PappaGrill Team that combines NFT card collections and blockchain technology in rewarding the community. Open to a mass-audience of intrinsic communities of PappaGrill, PPG TRC Collection offer unique rewards.
Traditional Digital Card & Coupon Trilemma
An average online retailer sold 30,774 digital card in December 2020*. Physical or digital gift cards can be a convenient and useful substitute for cash when you need to make purchases or want to give a gift to someone else. However there are 3 major downsides or trilemma of the traditional system which are centralized, ownership transferable limitation and weak authentication.
1. Centralized
Business entity or vendor has the ultimate policy maker to change the reward and policies. Sometimes, the card holder is frustrated whenever the card is unusable or expired. When the system is centralized to business entity, the audience is not really buying into the community.
2. Ownership Transferable Limitation
Not many vendor provides a digital card that can be transfer to other user. There is no freedom for the audience to transfer the reward to other people or even cannot monetize on it.
2. Weak Authentication
Fraud has always been a challenge for the gift card market, and recent year have seen an increase in gift card fraud in terms of both the number of cases and total financial losses. 26% of individuals who reported losing money to a scam in 2020 used gift cards to pay the scammer.
*Reference 1 : Digital Commerce 360
*Reference 2 : Payment Journals
Why NFT?
An NFT is a digital asset that represents real-world objects like collection card, art, music, in-game items and videos. We choose NFT in rewarding community because an NFT allows the buyer to own the original item and solve the trilemma of traditional digital card . With NFTs, we are also offering audience a chance to buy into their community and is a much deeper connection than people who simply purchase a physical gift card, voucher or coupon. Buying into a community essentially gives that member partial ownership of our community.
Why NFT in Solana Blockchain?
Comparison between Ethereum and Solana TPS & CPT
Source : Bigpanda
Solana is a highly functional open source project that implements a new, permissionless and high-speed layer-1 blockchain. We use Solana Blockchain for the NFT project because it is fast, has low TPS (cost per transaction) and more energy-efficient. Arweave and Solana partnered to provide a decentralised permanent data storage solution of ledger data and store the data permanently.
Source : Arweave Medium Project – Medium
Benefits & Rewards
In recent years, more brands have started to think about how best to encourage and reward customer or community loyalty. And it’s one reason why those brands are investing more money into their loyalty and rewards programs. At PappaGrill, we are rewarding the NFT communities by giving a specific discount for food and merchandise, NFT redemption, and many upcoming privilege reward.
Enjoy Specific Reward or Discount
NFT holder will enjoy continues rewards as long as they are not selling the NFT. It depends on the type of the NFT card that the owner owned. Different card types has different offer mechanism.
Redeem or Exchange for Food and Merchandise
NFT owner can redeem the NFT for food & merchandise. Redemption is occur when the NFT owner exchange the NFT for food and merchandise to any PappaGrill outlet. Food and merchandise is subjected to stock availability.
Earn Extra ‘Hodler Bonus’
Bonus – For those own a rare or legendary NFT collection, they will automatically enrolled to extra bonus. The ‘Hodler Bonus’ is depend on the types of NFT card as stated on the description & details. It is an extra reward for the NFT owner.
Store of Value
PappaGrill TRC Collection will be minted to only 200 of collections for first edition. When the brand of PappaGrill is becoming more valuable, the value of these NFTs will increase. NFT owner can start the trading at Solana NFT marketplace – solsea.io after the announcement for public sales at marketplace – TBA
Unlock Future Privilege Offer
In appreciation for the community, there will be more privilege offer to the NFT community in the future including community event, special discount for food or merchandise, free airdrops and many more.
Important Note : NFT holder only can make redemption and enrolled to specific reward at PappaGrill oulet starting on 24 September 2022.
Card Type & Character
Only 18 card types or characters on these NFT collection for first edition. Each of them has a different rarity level, attribute & reward mechanisms. Legendary level provides the ultimate rewards & it is a unique collection that only one character or card type will be minted.
Rarity Level
In simple explanation, there will be five (5) rarity level on PappaGrill TRC Collection NFT. These are categorized as normal, unusual, rare, very rare and legendary. Each rarity level offer a different benefits & rewards mechanism.
Rarity Level – Normal
For rarity level of ‘normal’ card, there is no redemption allowed. This card cannot be exchanged for food or merchandise. However the card holder will enjoy specific discount for a specific item as stated on card details & description.
Rarity Level – Unusual
For ‘unusual’ rarity level, there will be two benefits to the owner. NFT owner can exchange for specific food or merchandise and also will enjoy a specific discount (hodler reward) if the owner hold the card. Redemption method is simple. NFT owner need to walk in to PPG nearest outlet & transfer the NFT card to PappaGrill wallet address.
Rarity Level – Rare
Like unusual card, ‘rare’ NFT card owner will enjoy both benefits but with extra ‘hodler bonus’. Hodler bonus is the extra bonus to NFT owner that hold the rare, very rare & legendary NFT card.
Rarity Level – Very Rare
Similar like ‘rare’ card but with bigger redemption amount & rewards.
Rarity Level – Legendary
This is the ultimate level of the collection. Only 5 legendary cards will be minted for first edition collection. Owner of this NFT card will enjoy ultimate rewards for both holding or redeem. Most of the attributes on this card is also unique & differ from other card type and character.
How to Enjoy ‘Hodler Reward’?
All types of card will enjoy ‘Hodler Reward’. NFT owner need to show the NFT on their wallet to the PappaGrill team. After the verification has been made, PPG Team will enrolled the NFT owner to the specific discount or reward that been stated in the card details.
How to Redeem/Exchange NFT?
To make a redemption, NFT owner need to walk in to the nearest outlet and transfer the NFT to PappaGrill wallet address. After transaction is successful, the owner will able to exchange with the specific food or merchandise. There will be no limit per transaction in exchanging for the items.
*Note : 1. Redemption is not applicable for ‘normal’ card. If you have confusion, kindly refer to the above title of ‘Rarity Level’ 2. You need some SOL in your wallet to do the transaction.
How to Buy & Trade?
NFT holder can start buying and trading at solsea.io once the public sales has been announced.
