Superlocal will monetize in ways that enhance and improve the Superlocal experience — and avoid building a traditional, programmatic ad platform like you find on the current big social networks.
Advertising: Small businesses will be able to advertise on the Superlocal Map. They will need to provide a discount to appear on the map to give Superlocal users encouragement to support a local business rather than a chain. It costs nothing for a local business to appear on the Map, but their offer must go through an approval process. When Superlocal users redeem the discount for X LOCAL tokens, the small business will receive the LOCAL tokens. This flips the struggling business model of Yelp upside down. Instead of a business paying to appear on a platform, Superlocal pays the business to appear. However, we will allow businesses to redeem LOCAL tokens to even further boost the visibility of their offer on the Superlocal Map. Allowing businesses to redeem LOCAL to boost themselves helps take LOCAL tokens out of circulation and is another way we establish strong tokenomics.
Digital Collectibles: Superlocal Mayorships are the first digital collectibles offered for sale on Superlocal. For 0.07 ETH, users can mint a 1 of 1 NFT of a real-world place. Users want to collect places because they will receive LOCAL tokens from the Superlocal treasury when other people make checkins at the places they virtually own. The more places a user owns, the more potential passive LOCAL tokens they can earn. We will collect a 10% royalty when Mayorship NFTs are resold.
We also intend to build tools for local businesses to do their own NFT drops. In return, users will receive some sort of loyalty incentives (such as a free coffee each day at a coffee shop). We will do a revenue split on the initial drop and also take 10% of the royalty collected by a business when NFTs are resold (e.g. a coffee shop takes a $100 royalty on a resell, we will collect $10).
Other Monetization: We expect other monetization models to come to fruition in the future. All monetization on Superlocal will always enhance the Superlocal app and ecosystem for all users.