Phunware, Inc. (PHUN) stock prices were up by a significant 7.1428% shortly after market trading commenced on June 29th 2021, bringing the price up to USD$1.425 early on in the trading day.
Ten Million PhunToken Sweepstakes
June 28th, 2021 saw PHUN announce its Ten Million PhunToken Sweepstakes, which will coincide with the release of PhunWallet on the Apple app store. The release will see PhunWallet penetrate both the Apple and Android markets, having already been launched on Google Play. The Sweepstakes will commence at the end of July and will provide participants with the opportunity to early daily entries by engaging with content inside of the PhunWallet app. As per the initiative, 10 winners will be selected to receive one million PhunTokens each.
The company hopes to combine its PhunWallet and its dual token economy to provide an innovative new platform to brands and consumers. The platform will serve to give stakeholders more control over their data and compensates consumers fairly for their participation. PhunWallet is a cryptocurrency wallet and mobile application that works in conjunction with the company’s proprietary blockchain-enabled data exchange and mobile loyalty ecosystem. The data exchange and ecosystem are respectively powered by PhunCoin and PhunToken.
Being a regulated store of value, PhunCoin serves to compensate users for their data, while PhunToken is designed to be a medium of exchange that encourages profitable behaviour by unlocking key features of the company’s MaaS platform that reward and measure engagement.PhunCoin issuances identified by the SDK for Apple and Android can be manage by PhunWallet, facilitating the rewarding of consumers for their data with PhunCoin by third-party mobile applications.
Besides managing PhunToken purchases, PhunWallet allows user to manage PhunCoin purchases made in accordance with approved exemptions. PhunTokens can be earned by participating in activities that foster profitable behaviour, such as watching branded videos, completing surveys and visiting points of interest. The platform also facilitates the discovery of brands, deals, and opportunities that are tailored to users. Through PhunWallet, users can opt in or out of specific audience segments that are used by brands to personalize data-enriched media without compromising their PII.
Future Outlook for PHUN
With the company set to be acquired, PHUN is poised for the expanded facilities that will be made available to it to drive further growth. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.