Nike, the US multinational corporation, worldwide marketing and sales of footwear giant, has partnered with Plutus, the London-based fintech startup, to unlock up to 3% in crypto and 9% cash rewards for making purchases on Nike’s online store.
It has been reported that to receive the rewards, customers should use the Plutus Visa Card while shopping online. As Plutus operates within the United Kingdom and the European Economic Area to date, the service is now available for purchase in euro (EUR) and the British pound (GBP).
However, the rewards are generated in Plutus’ native token, Pluton (PLU), a decentralized loyalty token running on the Ethereum network.
The firm said that apart from 12% in total rewards available, Plutus users can also earn more rewards by supporting the PLU token through Plutus’ app. As of press time, the token is trading at $1.75, with a market capitalization of about $1.5 million.
Likewise, by introducing Nike crypto rewards, Plutus is making another step in its mission to bring cryptocurrencies into everyday life.
Nike’s affiliate partnership comes months after Plutus introduced a similar feature on major travel websites, Airbnb and Skyscanner, earlier this year. But development had to be paused due to the COVID-19 outbreak.
Thus, Danial Daychopan, the CEO and founder of Plutus, said:
“Plutus was approved as an affiliate partner for both Airbnb and Skyscanner at the start of the year, however all programs in the travel category have been temporarily paused by the company due to travel restrictions caused by COVID-19. Both of these partners were included to offer cash back to qualified Plutus members.”