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President of Brazil Sanctions Cryptocurrency Law

President of Brazil Sanctions Cryptocurrency LawPresident Jair Bolsonaro has approved law 14.478, which regulates cryptocurrency-related operations and virtual asset service providers (VASPs) in Brazil. The document, approved on the last day of the period allowed, will begin to be applied 180 days after its sanction. This will give all parties a period to adapt to compliance. Cryptocurrency Law Finally Sanctioned […]

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Grubhub users can earn BTC rewards for food delivery as part of Lolli partnership

“Food delivery is a ritual for many and Bitcoin rewards makes Bitcoin a part of that ritual," said Lolli co-founder and CEO Alex Adelman.

Food delivery platform Grubhub has partnered with Bitcoin rewards app Lolli to give hungry people the opportunity to earn crypto back on their orders.

In a Wednesday announcement, Lolli said Grubhub customers would be able to earn $1 in Bitcoin (BTC) rewards each time they used the platform’s extension or app. The funds will be available for transfer or storing in a user’s Lolli wallet after earning more than $15, or roughly 0.00026 BTC at the current price of $58,458.

“We must make Bitcoin a part of everyday life,” said Lolli co-founder and CEO Alex Adelman. “Food delivery is a ritual for many and Bitcoin rewards makes Bitcoin a part of that ritual.”

Launched in 2018, Lolli has teamed up with more than 1,000 merchants to give customers the opportunity to receive BTC rewards when shopping online, including major brands like Microsoft and Macy’s. In July, the platform closed a $10 million Series A funding round led by Acrew Capital, aiming to scale its services to a wider audience. This followed a $5 million funding round in March from investors including Seven Seven Six, the venture capital firm co-founded by Reddit executive chair Alexis Ohanian.

Lolli is not the only platform or brand name to try and serve up crypto adoption alongside a meal. In November, Burger King customers in the United States had the opportunity to earn BTC, Ether (ETH), and Dogecoin (DOGE) through Robinhood after spending $5 or more at the fast food chain. Landry’s Restaurant Group — the company behind the Bubba Gump Shrimp Company — announced a similar initiative last month for diners to earn $25 in BTC for every $250 spent.

Related: Bitcoin rewards triggered shopping frenzy for cardholders

According to data from Cointelegraph Markets Pro, the price of Bitcoin is $58,458 at the time of publication, having fallen more than 15% since reaching an all-time high of $69,000 on Nov. 10. Cointelegraph reported that the crypto has seen rejection at $60,000 more than once since dropping under the key level in November.

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Lolli Partners With Stubhub — Users Can Earn Bitcoin Back on Tickets to Live Events

Lolli Partners With Stubhub —  Users Can Earn Bitcoin Back on Tickets to Live EventsFollowing the $10 million Series A round at the end of July, the bitcoin rewards company Lolli has announced a partnership with the ticket agency Stubhub. According to the announcement, the partnership will provide users with the ability to earn up to 6% in bitcoin rewards when they purchase tickets to sporting events, concerts, and […]

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Bitcoin Rewards Firm Lolli Raises $10M in Funding Led by Acrew Capital, Social Media Moguls

Bitcoin Rewards Firm Lolli Raises M in Funding Led by Acrew Capital, Social Media MogulsThe bitcoin rewards platform Lolli has announced the company has closed a $10 million Series A funding round on Wednesday. Lolli says the new financing will help the firm expand, hire and develop new partnerships. Lolli Raises $10 Million The New York-based Lolli has raised $10 million from investors, according to the company’s announcement on […]

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Bitcoin Rewards Program Lolli Lands $5M Investment

Bitcoin web browser-based coupon app Lolli has secured a $5 million investment led by Serena William, her husband Alexis Ohanian’s independent venture funds, and Night Beast, the talent manager of famous YouTuber Mr. Beast. 

Bitcoin Payments Take Lead 

Lolli concluded its Series A investment of $5 million. It’s the firm’s second funding in less than a year after a $3 million round in May 2020 led by actor Ashton Kutcher and Youtuber Michelle Phan.

The Google Chrome, Firefox, or Microsoft Edge extension gives BTC cashback for payment at Lolli’s partner websites while the extension is in “active” mode. 

During the sale season this last winter, the reward’s app added eBay to its partners’ list, including Walmart, GoDaddy, Microsoft, Nike, and many other popular brands.

The 23-time grand slam winner Serena Williams noted in the press release:

“I’m excited to announce my investment in Lolli, a company on a mission to make Bitcoin more accessible. Earning and owning Bitcoin is a step towards financial inclusivity for all people.”

The extension is only active only in the U.S., and the company plans to use the investment for “international expansion.”

Lolli is promoting Bitcoin payments to reduce the cost of payments for merchants, who otherwise would have to pay 1-5% to card companies and other payment providers.

Bitcoin transactions are made unfeasible due to the high transfer fee—currently, the average fee for sending a BTC transaction is $15. However, concerning international remittances and payments, Bitcoin’s fee is comparatively cheaper than wire transfer costs. 

Lolli offers an average of 7% cashback—ranging between 2-30%—for just opening a chrome extension. Its business model is based on mainstream rewards app Honey, acquired by PayPal.

With companies like Tesla enabling Bitcoin payments and PayPal and Starbucks designing respective crypto payment products, Lolli can bridge retail merchants and payment providers.

Disclosure: The author held Bitcoin at the time of press. 

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