ShiftPixy (NASDAQ:PIXY) stock is on the move Monday as investors react to news of the company adopting an NFT loyalty program.
ShiftPixy is a platform that lets users sign up and apply for shifts with different employers. The company’s focus is on providing those taking part in the gig economy with an easy way to find work.
According to the company, this new NFT loyalty program will include “Web, In-App Gamification, and Augmented Reality (AR).” All of these features will be tied to brand NFTs for the company’s various food brand ordering apps.
ShiftPixy claims that this system will allow consumers to use their NFTs to win in-game rewards via its app. That includes free food items. It will also make use of AR via QR codes that customers can scan.
Scott Absher, co-founder and CEO of ShiftPixy, said the following about the NFT news boosting PIXY stock higher on Monday.
“We intend for our brands to immerse our consumers into an augmented and mixed reality experience that will test every tradition and legacy in consumer marketing. We believe that this will show the world a high-value use case for monetizing the metaverse. As we move forward with this endeavor, we plan to increase our offerings and boost our footprint in the digital world.”
ShiftPixy says it plans to launch the NFT loyalty program in 2022 as it prepares for the launch of its Ghost Kitchen food brands.
PIXY stock is up 38.5% as of Monday afternoon and is up 44.9% since the start of the year.
Investors seeking more stock market news for today are in the right place!
We’ve got all the latest stock coverage that traders need to know about for Monday! That includes stocks to watch this week, what’s happening with Shopify (NYSE:SHOP) stock, as well as the most recent Digital World Acquisition (NASDAQ:DWAC) stock news. You can get up to speed on all these topics by checking out the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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