Qiibee is creating a loyalty protocol that provides a trustless, secure and provable manner for issuing loyalty tokens backed by a crypto asset across different blockchains. It creates a connected ecosystem of varying brand loyal tokens, where consumers have absolute freedom, could use earned tokens

Rating: 3.6

Official contacts
Location: Zürich Area, Switzerland
Web-resources:   Whitepaper Website
Social networks:
Product source tracking: N/A
Details Description Risks Full analysis Team

Detailed review

Stage of product development
Qiibee was founded in 2012. The product is ready, few companies already use their project. 2015-2016: Off-chain loyalty app launched 35m Datasets created 100k Active users 6m Customer activities 900 Brand partners
June, 2016
Made strategic decision to build loyalty on the blockchain based on learnings from off-chain app Created smart contracts on Ethereum and published white paper
March, 2018
Closed our seed round with approx. 3.2m USD Invested in team expansion, product development and brand acquisition
June, 2018
Conducted 2 brand roll-outs in 7 countries reaching 2m customers API, Software Development Kit, Protocol 1.0
October, 2018
Open Crowd Sale to fund the qiibee journey Onboarding of 8 more brands to the qiibee ecosystem Plug & Play, Dashboards
November, 2018
Conduct loyalty on the blockchain hackathon Onboarding of 25 more brands to the qiibee ecosystem Protocol 2.0
Token description
ICO date
24.09.2018 - 30.09.2018
Token price
0.0001 ETH
Hard cap
Token distribution date
Consensus method
ICO currencies
Bounty camping
Token functions
Brands can use the QBX to create and distribute their own loyalty token. Customers can collect, exchange and redeem these loyalty tokens inside the qiibee ecosystem or convert them to QBX to exchange for crypto and FIAT.
Tokens distribution
Seed round (18.8%)
Private sale (26.4%)
Crowd sale (2.9%)
Brand sale (2.9%)
Ecosystem (30.0%)
Team & early contributors (14.0%)
Bounty program (5.0%)

• This product is mostly interested for SME, which is not the biggest players on loyalty programs.


• There are no initiatives to pay for creating own brand tokens by QBX tokens. It is better to pay in fiat money.

• The opportunity to exchange brand loyal tokens for another brand loyal tokens or fiat money makes such brand loyal tokens useless.


• On the one hand, the product is ready, on the other, 49% of funds would be allocated to further product development.

• Huge difference between seed, private and public sale - investors are in unequal conditions.


• The company was founded by two brothers without enough previous experience.

• Only 2 developers are non-remote.

Full analysis

The Europe loyalty management market is expected to reach US$2,158.48 million by 2025. According to the report published by KBV Research, the Loyalty Management Market in Europe is expected to register a CAGR of 17.6% during the forecast period (2017 – 2023). The Small & Medium Enterprises market is expected to witness a CAGR of 22.1% during (2017 – 2023). Nielson gives the qualitative description of the loyalty market. More than half of global loyalty-program participants (51%) say product discounts are among their three most-valued loyalty-program benefits, followed by monetary rewards in the form of rebates or cash back (45%). Consumers crave flexible loyalty programs. Roughly 8 in 10 global loyalty-program participants say it is somewhat or very appealing to be able to earn rewards regardless of whether a purchase was made in store, on a website or on a mobile device (81%) and to choose among several types of rewards (79%). Today’s brand-specific point-based loyalty market is inefficient and inconvenient for both brands and customers. Converting points into real-value loyalty tokens on the blockchain has enormous potential. Qiibee would be especially interesting for SME, the fastest growing segment in the loyalty management system.


Qiibee is Loyalty Token Protocol. It gives an opportunity to easily create own brand loyalty tokens, which capitalizes at significant scale and adoption rate. Brands issue own loyalty tokens via plug & play and enjoy the flexibility of loyalty program design. The platform and tokens merge all distinct loyalty brand tokens to one ecosystem. Gives an opportunity to exchange any token to QBX and then to fiat. In Q2 2018 only, 10 brands confirmed loyalty token and DAPP issuance on qiibee. As a result, it is expected, that the adoption rate of Qiibee would be high. All brand loyalty tokens would be backed by QBX, which should be frozen on smart contract.


Business model

The blockchain technology creates a lot of value for Qiibee. However, the only one function for the QBX tokens is payments for creating own loyalty tokens and merging all connected loyalty programs into one. Brands can use the QBX to create and distribute their own loyalty token. Customers can collect, exchange and redeem these loyalty tokens inside the qiibee ecosystem or convert them to QBX to exchange for crypto and FIAT.


With USD 3.25m for 18.8% QBX achieved during the Seed Round the soft cap has already been reached. The hard cap for the remaining Token Sale is USD 9m. As a result, there is more than 65% difference in valuation during seed stage and public sale. That is a red flag for crowd sale investors.

The proposed allocation of funds is following:

49% - engineering and R&D

26% - business dev

10% - education

14% - marketing

1% - legal

It is not clear, why 49% goes to engineering, due to the fact, that company says, that product is ready. Also, it is not clear what is 10% for education.


Currently, the team consists of 18 people and 15 advisors. Qiibee was founded by 2 brothers: Gabriele and Gianluca Giancola.  First is responsible for Sales & Partnerships. He has been former GE with 6 years of experience in the loyalty sector. He holds MA Management, St. Gallen. The second brother is responsible for design & UX. He has been the founder of gratis-auto.ch and designed with Snips and the University of Basel. He holds MA Graphic Design, IED Milan. They did not have an extremely valuable experience before this company. However, they have spent almost 6 years on building Qiibee. The technical team is presented by 6 people. However, only 2 of them works is Switzerland. Others located in USA, Isarael, India, Bosnia. Three of them is responsible for blockchain development. On the business side, there are 2 ex-BCG workers. The first was Senior Consultant, the second was Associate.

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