Props Partner App: Interview with Listia CEO & Case Study
It has been a little over two months since eCommerce platform Listia launched their loyalty rewards program with Props. Listia, the most recent app to adopt Props’ blockchain-powered loyalty and rewards solution, experienced a 10–20% increase (case study here) in revenue and engagement, proving their users’ motivation to become part of the emergent ownership economy.
Founded in 2009, Listia is an online marketplace for bidding on and trading used goods amongst more than 10 million registered users. Users bid on and buy items with in-app points and earn points by selling items. Types of goods listed range from antique sheet music to iPhone covers, from gardening tools to Christmas stockings, and more. Listia is the first eCommerce use case for the Props blockchain loyalty program.
In early January 2020, Listia joined the Props network in order to add additional layers of user-focused incentives to Listia’s offerings. According to CEO Gee Chuang, Listia saw an advantage in Props’ power as “a token that not only unlocks features and gives you more value within marketplaces, but also gives you a true financial stake in the network. As the first legally qualified consumer-facing token in the US, Props is in a unique position to help us realize that vision.” Listia launched Props on August 31, 2020.
One month after the launch, measuring key metrics, show healthy growth across the board. We have put together a case study to enumerate these growths as well as explain how Props provided a solution for Listia’s pain point. Our team also spoke with CEO Chuang to get further insights into the partnership — from the business rationale to user feedback, tech and marketing processes, and future visions.
We spent some time with Listia’s CEO Gee Chuang to learn more about the process of integrating Props into Listia.
Props Team:
What pain points was Listia having that you hoped Props could help solve?
Gee Chuang:
Listia has always been a mix of a marketplace, social platform, and a game, all rolled into one. A big part of our early success came from the gamification of peer-to-peer commerce as well as the original XP and levelling system that we had. Over the years, that part of the app became stale and did not evolve well with the product. When we heard about Props, it looked like a natural fit for our community, and a great way to bring back the levelling system that so many of our early users loved.
The mix of a great rewards engine and the fact that we already have many blockchain enthusiasts on our platform made it a natural fit. The new Props token and Props level system have brought the gaming element back to Listia, and users love the way that it ties back into the product, with perks, bonuses and other benefits for users.
Props Team:
What was the main reason you decided to move forward with the partnership?
Gee Chuang:
After a few great initial conversations with the Props team, It seemed like a natural fit for our user base, and definitely filled our need to create a more engaging product, bringing back the fun and social aspect that our users have always enjoyed.
We were really impressed by the overall vision of a large consumer-blockchain network. Allowing our users to own a stake in the networks they are participating in is something we’ve always wanted to do and hadn’t quite gotten right. Our partnership with Props is a big step forward with this goal.
Props Team:
As Listia already had a loyalty points program in place, why did you still decide to introduce Props?
Gee Chuang:
Listia has always had the concept of loyalty, experience points, and levels, but they were largely cosmetic. Users have loved these aspects, but we felt we could be doing more. Props not only gives our users a financial stake in the network they are creating, but our integration also gives users real perks and bonuses that they can use daily. These unique aspects of the Props ecosystem felt like a great way to tie together our existing goals, badges, experience points, and levelling system into one cohesive product.
Props Team:
How hard was it to integrate Props into the Listia ecosystem?
Gee Chuang:
The integration was surprisingly easy. While we do have a good deal of blockchain expertise on the team, the actual integration didn’t require it. The Props team has done a great job of making it easy for any app or website team to integrate, without needing crypto and blockchain knowledge.
Props Team:
One of the larger value-adds that Props works to provide is to help increase revenue and engagement with an app’s users. How has the integration done so far in helping with these activities?
Gee Chuang:
Our revenue and engagement numbers after 30 days have gone up about 10 percent on average. The Props levelling system is generating more engagement, re-engagement and ultimately, transactions on the platform. Users have also deposited Props into their linked wallets in order to get more perks and bonuses.
Props Team:
In terms of the blockchain loyalty program with Props, how has the feedback from the user community been?
Gee Chuang:
Users seem to be really enjoying the new system. The overall sentiment is great, and while users are still learning how things work now, they do seem to be having a lot more fun on Listia.
Props Team:
How do you envision the future of your continued evolution of the loyalty rewards program you have in place?
Gee Chuang:
We would love for this to evolve into something our users are actively trying to earn, not only for the perks and bonuses on Listia, but also because it gives them a financial stake in the network. This is a newer concept that is a bit harder to get across right now, but I think as more users understand this, engagement will grow even more.
The Props team is excited to share Gee’s experience and vision, and are grateful for his team’s trust in us as we embark on this journey together. By partnering with Props, an app is not simply introducing a loyalty rewards program, but joining a broader network with nearly 6 million token holders who could become the app’s new active users. As more users begin to understand the full significance of what they own when they own Props, the more engagement and growth it will bring to our pioneering app partners, and the closer we are to establishing ownership economy governing app-user relationships of the new age.
Is your company interested in learning more about how you could integrate with the Props Project offerings? Contact our business development team by emailing Phil Yang at phil@propsproject.com.
