Why I created the $CXM Coin
I’m convinced that the current state of cryptocurrencies will fundamentally change customer experience. The hype around NFTs is a major opportunity for the gaming, sports, music and content creation industry, but if you think it through this could be an opportunity for any business with a loyal fan base. Another trend is the rise of branded coins, which enable individuals or communities to create their own branded economy. I recently had the opportunity to create a branded coin myself. Just read this blog to learn why I created the $CXM coin.
A couple of weeks ago, Peter Hinssen and I were invited by our good friend Jeremiah Owyang to join the Rally.io platform. Rally is one of the platforms that offers content creators and brands the opportunity to create their own branded coin and it is funded by the renowned VC Andreessen Horowitz. Peter and I have visited their Silicon Valley HQ on many occasions. They are also the VC behind companies like Facebook, Clubhouse and Coinbase.
Rally selected 100 content creators to try out their platform as early users. Peter and I are very excited to be part of this group. When we had to decide what kind of coin we wanted to create: a personal one or one that relates to a larger group of people. We both chose for the latter option.
So Peter launched the $NEXX coin, which is linked to our company nexxworks and for which we are investigating possible use cases for the nexxworks community. I decided to create the $CXM coin, a coin for the entire Customer Experience Management community.
$CXM, a community coin for the CXM professional
That was only the first step. Now we have to figure out what we are going to do with this branded coin.
It’s still very early days as the coin is still in the development stage. But I would love to open this up to the entire $CXM community to look for interesting use cases.
A first step in creating this community, is getting these branded coins out there. I see a few early ideas of use cases:
- Reward each other. When someone in the $CXM community creates a great piece of content or when an organization creates a fantastic customer experience program, the community could reward them with X number of coins
- Use the coins to surprise each other with a random act of kindness
- Set up specific CXM communities where knowledge is shared. People can join in by donating X coins to the organizer
- Authors can sell personalized copies of their books with $CXM coins
- If someone in the community wants to create their own event on their own initiative, you can organize that event and charge $CXM coins as an entrance fee
- If you invite someone to your podcast or on your YouTube channel, you can reward them with $CMX coins
- $CXM coaches can set-up their own coaching program online. You can make your services available via your social channels and ask (potential) customers to pay you in coins.
- If you are a Customer Experience conference organizer, you could give every visitor X number of $CXM coins for access to additional perks during or after the conference: a private session with a speaker, a book, a VIP seat with a bottle of champagne…
Why this coin? Why now?
I’ll be honest: I haven’t got a clue as to where this will bring us, but that’s also what I love about it. Because that means that we can find this out together, as a community. Consider this a live experiment to which you are all invited. Share ideas, give some of them a try and together we’ll see where this leads us.
I’m convinced that the current state of cryptocurrencies will fundamentally change customer experience. The current hype around NFTs, for instance, is a major opportunity for the gaming, sports, culture, music and content creation industry, but if you think it through this could be an opportunity for any business with a loyal fan base. Just like that, the rise of branded coins, may enable individuals or communities to create their own branded economy.
Practical information if you want to participate in the $CXM community
If you want to take part in the experiment, you’ll need a Rally.io account. As soon as you create your own Rally ID you can buy, receive and send coins to anyone with a Rally ID. To kick off the experiment please send me your Rally ID via direct message on one of my social media accounts and I will send you some $CXM coins (first 100 reactions only).