There is a serious problem in our modern world. Most people in the world have few, if any, assets that can benefit them in the future. The little money they have is spent on daily needs. They cannot build assets for the future.
The owners of assets, on the other hand, the shareholders of companies that benefit consumers, increase the value of their assets over the long term through both the dividends from the companies and the increase in the value of their stock holdings.
In this way, our current form of capitalism does not lift all boats simultaneously. Rather, it widens the economic gap between the wealthy few who already have wealth and most people who struggle and are unable to accumulate wealth of their own. Experts have identified this automatically widening economic gap between most people and the wealthy few as a serious problem facing societies worldwide.
The SocialGood app was developed to address these societal problems and update the way capitalism works. Their service allows consumers to make a fortune with their daily spending instead of losing their money on every purchase.
The global opportunities are immense. There are 5 billion mobile users worldwide. At the same time, 55% of shoppers want cashback or rewards when they shop online. About 2% of mobile users own cryptocurrencies. So the current market opportunity - or the total addressable market - is 5 billion mobile users x 55% seeking rewards x 2% crypto owners, or 55 million people. That's just where we are today. It is estimated that the crypto market will grow tenfold in just two years, so it is reasonable to assume that the market size for the SocialGood app will reach 550 million people.
Other crypto rewards programs have come and gone. But SocialGood has several advantages over the others. First, it owns the IP by owning 68 separate patents related to crypto-back rewards. The project's own token, SocialGood (SG), is the basis of this ecosystem and is becoming the global currency for rewards programs. SG can be exchanged for BTC/USDT on major exchanges, and SG holders can earn up to 15% APY in rewards. There are already more than 1,800 stores worldwide that are working with the SocialGood project.
Second, once a project starts to dominate its sector, the network effect comes into play and the big ones get bigger. SocialGood App already has over 2 million users and aims to reach 10 million users by the end of 2022.
The more SocialGood App's user base grows, the more SG holders there will be. The more SG holders, the more value the app has because it gives SG away 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 the token ecosystem. And these long-term SG holders also recommend the SocialGood app to their friends and family for the same reason.
It's not just the number of users that is growing rapidly. As of March 2022, the Social Good Foundation has successfully raised $14.2 million in VC capital. There are further plans to list the SG token on popular crypto exchanges, in addition to the exchanges where it is already listed, including Bittrex and MEXC. The SocialGood app already offers up to 100% crypto back rewards on eBay and AliExpress, among many other sites, and will soon release a Chrome extension.
Expanding the use of the SocialGood App around the world will help narrow the economic gap worldwide and benefit society as a whole. Creating a global system of liquid, fungible reward tokens will allow anyone to earn a fortune while spending money on their daily needs. In time, the SG token itself will be able to be used as payment in stores around the world. This is the update capitalism needs to expand asset ownership to every part of society.