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There is a serious problem in our modern world. Most people around the world have few, if any, assets that can provide them with any benefits in the future. What limited money they have is spent buying their daily necessities. They cannot build any assets for the future.
On the other hand, asset owners, the shareholders of companies who are profiting from consumers, increase the value of their assets over the long term through both dividends from the companies and the rise in value of their stock holdings.
In this way, our current form of capitalism is not raising all boats at the same time. Rather, it is further increasing the economic gap between the few wealthy people who already have assets and most people who are struggling and unable to accumulate their own assets. Experts have recognized this automatically expanding economic disparity between most people and the wealthy few as a serious problem, faced by societies worldwide.
The SocialGood App was created to solve these societal problems and update the way that capitalism works. Its service allows consumers to gain assets from their daily spending, instead of just losing their money with each purchase.
The global opportunity is immense. There are 5 billion mobile users worldwide. At the same time, 55% of shoppers aim to receive cashback or rewards when shopping online. About 2% of mobile users hold crypto. The current market opportunity - or Total Addressable Market - is therefore 5 billion mobile users x 55% aiming for rewards x 2% crypto holders, or 55 million people. That is just today. The crypto market is estimated to grow at a pace of tenfold in just two years, so it is reasonable to expect that the market size for the SocialGood App will become 550 million people.
Other crypto reward programs have come and gone. But SocialGood has several advantages over the others. Firstly, it owns the IP through holding 68 separate patents related to Crypto Back rewards. The project's native token SocialGood (SG) is the base of this ecosystem and is becoming the global currency of rewards programs. SG can be exchanged with BTC/USDT on major exchanges and SG holders can earn up to 15% APY staking rewards. There are already more than 1,800 stores worldwide that partner with the SocialGood project.
Secondly, once a project starts to dominate its sector, the network effect comes into play and the big get bigger. SocialGood App already has over 2 million users and is looking to reach 10 million users by the end of 2022.
The more the SocialGood App user base grows, the more SG holders there will be. The more SG holders, the more value that the app will have because it gives away SG for free. And the more valuable the app becomes, the more the user base will grow. This is the network effect in action.
Over 90% of SocialGood App users hold their SG long term without withdrawing it from the app because they understand token ecosystems. And these long-term SG holders also recommend the SocialGood App to their friends and family for the same reason.
It is not just the user base that is rising rapidly. In March 2022, Social Good Foundation successfully raised $14.2 million in VC equity funding. There are further plans to list the SG token on well-known crypto exchanges in addition to the exchanges it is already listed on, including Bittrex and MEXC. The SocialGood App already gives up to 100% Crypto Back rewards on eBay and AliExpress, among many other sites, and will soon be releasing a Chrome extension.
Expanding the use of the SocialGood App globally will help decrease the economic gap worldwide and benefit society overall. Creating a global system of liquid, fungible reward tokens will enable everyone to earn assets while spending money on their daily necessities. In time, the SG token itself will be usable as a payment method at stores worldwide. This is the update that capitalism needs, extending asset ownership to every section of society.