SHPING PriceSHPING

What is SHPING (SHPING)?

SHPING is the Ethereum-based utility token that powers the Shping ecosystem, a loyalty and rewards platform founded in 2017 by Authenticateit Pty Ltd. The project is designed to reshape the relationship between brands and consumers by replacing one-way, transactional marketing with a two-way model that rewards shoppers for meaningful engagement across all retail categories. Shping describes its mission as turning shoppers' footprints into a new on-chain asset class, tokenizing retail rewards, discounts and loyalty so that consumers can be compensated directly for their attention, product knowledge and purchase activity.

At the core of the platform is the Shping mobile app, which functions as a product search engine and rewards hub. Users can scan barcodes, upload receipts, watch videos, write product reviews, complete missing product information and connect with brands to earn SHPING tokens. The app also supports shopping lists, price comparisons, receipt storage, loyalty card storage and product reviews. Product data feeding the ecosystem comes from consumers, brands, retailers, manufacturers, government-owned and independent certification bodies, and supply chain agents, with artificial intelligence used to flag inaccurate submissions before a human Data Excellence Team performs second-level verification.

SHPING has a total and maximum supply of 10,000,000,000 tokens, with circulating supply reported across various snapshots at approximately 1.78 billion to 2.3 billion. The project has completed its token sale and continues to develop its Australian foundation while pursuing broader market expansion, additional exchange listings and new retail modules.

Key Specifications & Tokenomics

• Name: Shping
• Ticker: SHPING
• Blockchain: Ethereum
• Category: Loyalty and rewards
• Founded: 2017
• Platform Entity: Authenticateit Pty Ltd
• Total Supply: 10,000,000,000 SHPING
• Max Supply: 10,000,000,000 SHPING
• Initial Allocation: 50% dedicated to token purchasers, 42% allocated to the remaining distribution categories described in the source material
• Circulating Supply Snapshots: 2.3B, 2.29B, 2,286,791,464, and 1,782,433,623.00 SHPING depending on the data source
• Circulating Supply as % of Total: 23%
• Fully Diluted Valuation Snapshots: $6,343,084 and $5.41M USD
• Official Website: https://shping.com/
• Whitepaper: Shping Whitepaper Version 2.0, dated Nov 6, 2022
• Token Utility: Rewards for app users, tokenized retail rewards, discounts and loyalty, tradable digital currency

Who created SHPING?

SHPING was founded in 2017 by Kasper Ulrich, Christian Aachmann and Christoffer Bak, according to CoinMarketCap. Kasper Ulrich is noted as having a background in business and technology and played a pivotal role in the project's development. The founding entity behind the platform is Authenticateit Pty Ltd, which is identified in Shping Whitepaper Version 2.0 as the platform entity. Beyond these core figures, detailed public information about the wider team structure and individual roles is currently limited. The project maintains a blog authored under the handle "shping-team" and operates a community ambassador program called the Shping Insider Group, through which contributors can earn token airdrops.

How does SHPING work?

SHPING operates as an Ethereum token embedded at the core of the Shping platform. Users earn Shping Coins by engaging with the mobile app in ways that generate valuable retail data and brand interaction. Reward-generating actions include scanning barcodes, uploading receipts, watching videos, writing product reviews, completing missing product information, connecting with brands and scanning purchase receipts. The app applies operant conditioning principles to encourage these desired behaviors, and a tier system multiplies rewards from 1x for basic users up to 1.6x for Ambassadors.

Shping Coins are cash-convertible. The app holds a transit account for each user, and when a user chooses to cash out, Shping sells the crypto coins on an exchange and deposits the corresponding cash in Australian dollars into the shopper's nominated bank account. A withdrawal limit between $20 and $75 applies depending on the user's tier. The platform also rewards engagement with non-partner brands from its reserve, without direct brand involvement, and offers booster items that increase the withdrawal limit, a Karma points system for accurate data sharing, and referral rewards.

What makes SHPING unique and valuable?

SHPING differentiates itself by directly connecting brands and consumers through a rewards mechanism rather than relying on intermediaries. The project aims to divert marketing spend away from platforms such as Facebook and Google and redirect it into rewards for product interest, interaction and purchases. This creates a direct communication channel for brands and a tangible incentive for shoppers.

A second distinguishing feature is the Global Product Database, which Shping describes as the world's first global product database linking data from trusted sources including brands, track and trace records and supply chain participants. The goal is to create a digital identity for each retail product marked with a GS1 barcode, empowering consumers with accessible information for smarter buying decisions. Artificial intelligence and a Data Excellence Team work together to maintain data integrity, flagging inaccurate inputs and improving the system through deep learning. The platform also emphasizes cash conversion in Australian dollars without gift cards or gimmicks, which adds practical utility for everyday users. With more than 7 million barcodes scanned since inception and over 20 million products offering rewards, the ecosystem has demonstrated real usage, and brand partners referenced include Vegemite, Carmex and The A2 Milk Company.

What is SHPING used for?

SHPING serves multiple functions within the Shping economy. Primarily, it is the reward token that incentivizes app users for engagement such as scanning barcodes, uploading receipts, writing reviews and completing product data. It tokenizes retail rewards, discounts and loyalty, giving shoppers a transferable digital asset in exchange for their attention and contributions.

The token can be stored in a crypto-friendly digital wallet and traded like any other digital currency on supported exchanges. Shping Coins are also cash-convertible, allowing users to transfer rewards directly to a bank account in Australian dollars through the app's transit account mechanism. Looking ahead, the project's roadmap includes developing a payments system and API for accepting Shping Coin as a form of payment in stores. The token also supports the Shping Insider Group ambassador program, where contributors earn regular token airdrops for sharing ideas and spreading the word. In essence, SHPING is designed to be the reward token of choice for engagement and loyalty across brands, retailers and industry organizations.

How Is the SHPING ecosystem developing?

The Shping ecosystem is being developed with a focus on generating critical mass in Australia before expanding to other markets, according to Shping Whitepaper Version 2.0. Key development priorities include building a Retail Module that will empower retailers to influence foot traffic, create flash sales, provide loyalty programs and offer augmented reality experiences. The team is also continuing business development in Australia, refining the Shping App, expanding the Global Product Database and marketing to encourage app downloads.

Another significant initiative is the development of Shping store partnerships and a payments system, including an API for accepting Shping Coin as payment. A contribution verification module is planned to verify the authenticity of data entered into the Global Product Database. The project also intends to list Shping Coin on more crypto exchanges. The ecosystem currently benefits from a range of data sources including consumers, brands, retailers, manufacturers, certification bodies and supply chain agents. Community involvement is encouraged through the Shping Insider Group, and the platform has achieved over 330,000 app downloads as of May 30, 2023.

How to mine SHPING?

SHPING is not mined through proof-of-work or proof-of-stake consensus. It is an Ethereum-based token with a fixed maximum supply of 10 billion coins, and it was initially distributed through a token sale that has since been completed. There is no mining or staking mechanism for generating new SHPING tokens. Instead, users acquire SHPING by participating in the Shping app's reward programs, such as scanning barcodes, uploading receipts, watching videos, writing reviews, completing product information, connecting with brands and scanning purchase receipts. Tokens can also be purchased on supported exchanges. The tier system multiplies rewards based on user engagement levels, and booster items can increase withdrawal limits. Therefore, the practical way to obtain SHPING is through app participation or market acquisition rather than mining.

How to keep your SHPING Coin safe?

Because SHPING is an Ethereum token, it can be stored in any wallet that supports ERC-20 assets. Users should choose reputable hardware or software wallets that give them control over their private keys, and avoid sharing seed phrases or private keys with anyone. For active app users, keeping rewards within the Shping app's transit account is convenient for cash conversion, but long-term holdings are generally safer in a self-custody wallet. Enabling two-factor authentication on exchange accounts and using strong, unique passwords are essential precautions. Users should also be cautious of phishing attempts, fake websites and unsolicited offers related to SHPING, and should verify contract addresses and official links before interacting with any token or platform. Regular software updates and secure backup practices further reduce the risk of loss.