Webblen Leverages the Algorand Blockchain to Incentivize Community Participation and Build Vibrant Local Economies
Fargo, North Dakota — October 11, 2021 — The Webblen team is excited to announce its upcoming integration with the Algorand blockchain, including the launch of the native WBLN token as an Algorand Standard Asset (ASA), in Q4 of 2021. As the first blockchain-based platform designed to drive local community engagement, Webblen rewards users for being involved in their local community and is on a mission to make crypto accessible to all.
The Webblen platform, which is currently live on Algorand TestNet, creates a decentralized local loyalty program that incentivizes users to participate in community happenings like events and promotions. In turn, participants can utilize their WBLN rewards to purchase goods and services from local businesses, creating a social economy that forges deeper connections between people and the communities in which they live.
Fargo, North Dakota is currently Webblen’s first community with over 5,000 active users. The city of Fargo is currently looking to utilize Webblen to achieve shared community goals while helping over 2,000 small businesses in the area. Webblen is already being used by multiple small businesses in Fargo with countless others around the globe looking forward to their expansion. The Webblen team is on a mission to empower small businesses to become more sustainable, engaged, and profitable in their local market.
When Webblen launches on the Algorand MainNet later this year, all those who sign up for the platform will have a Webblen Wallet automatically generated for them, which will be used for storing and transacting the WBLN token. This user-friendly approach is designed to appeal to the everyday consumer and eliminates the need for any prior knowledge of cryptocurrency or key management. After an initial launch on Algorand in Q4, Webblen will roll out interoperability for its wallet with other tokens, which will give Webblen users the opportunity to leverage the entire Algorand ecosystem, as well as self-custody options. Over time, users will be educated on the complexities of cryptocurrencies and have the option to custody their own assets.
“For even seasoned investors, crypto industry jargon and friction-filled onboarding can be intimidating, and for some an even insurmountable hurdle,” said Webblen co-founder and CMO Nathaniel Thoreson. “We are focused on fixing that problem with Webblen. Our goal is to create a platform that can be used by all members of a community, regardless of their crypto fluency. Given this, it is important that we make Webblen as user-friendly as possible.”
“We are excited for our upcoming launch on the Algorand blockchain,” said Webblen co-founder and CTO Carter Razink. “Algorand offers one of the most robust tech stacks of any blockchain network we’ve considered, making it super easy to integrate and get our token launched. On top of that, the fact that the network is carbon negative is really important for Webblen — we’re focused on building sustainable local communities and needed a sustainable tech solution to run on.”
Webblen is a decentralized platform that rewards community engagement and positive social behavior to build vibrant, sustainable, and involved local communities. Community members are rewarded with the WBLN token for engaging in local events and media which can be traded for local goods and services or other currencies. Businesses and governments are empowered to directly engage with members of the community and mobilize them to accomplish community objectives. Webblen is on a mission to build involved communities while frictionlessly bringing the power of cryptocurrency and blockchain to the masses. www.webblen.io