Australian University Offering ETH As Reward for On-Campus Purchases

The University of New South Wales (UNSW) is working with startup LoyaltyX to test a rewards program that rewards students with Ethereum when they make purchases at campus based retailers.

Currently the program is limited to 500 students. The initial research effort will last from October 6th to November 20th. Every time a student makes 10 transactions, and scans the accompanying mobile app, they will be reward with $5.00 in ETH.

Several departments are coordinating on the consumer loyalty research effort, including the School of Computer Science and the School of Business. The university and LoyaltX are hoping to gather researc data on how students behave in reaction to receiving ETH for their purchases.

Andrew Lowe, LoyaltyX's manging director said in a statement:

Last month, the value of ether rose by 30%, so we're excited to see how members respond to this type of loyalty currency vs. traditional approaches such as points. We're confident they'll find it much more engaging, but the research will give us a more definitive answer.