SocialGood App

About SocialGood App

SocialGood, Inc. is a fintech company founded in Tokyo, Japan, in 2018 by serial entrepreneur Soichiro Takaoka. Takaoka, a Tokyo University graduate with a background at Mitsui & Co., previously established a successful investment advisory firm that managed over $1B in contracts. His experience in finance and technology led to the creation of the SocialGood App, a platform designed to lower the barrier to asset ownership for consumers worldwide. The company has secured $14.2 million in a Series A funding round and holds over 70 patents related to its business model.

The firm operates within the crypto-rewards and online retail market, targeting global online shoppers. Its business model is centered on a 'Shop-to-Earn' concept, where users receive cryptocurrency rewards for their online purchases. Revenue is generated primarily through advertising fees from partner retailers. When a user makes a purchase through the app, SocialGood receives a commission from the retailer, uses that revenue to buy its native SocialGood (SG) tokens from the market, and then distributes these tokens to the user as a crypto reward. This patented buyback mechanism forms a core part of its tokenomics.

The primary service is the SocialGood App, which connects users with over 20,000 online stores, including major brands like eBay, Walmart, and AliExpress. By shopping through the app, users can earn up to 100% of their purchase amount back in the form of SG tokens. The SG token is an Ethereum-based cryptocurrency that also functions as a membership pass within the ecosystem, with higher holdings unlocking better reward rates. Users can also stake their SG tokens to earn additional rewards, further incentivizing holding the asset. The app has surpassed 2.3 million users globally, with a significant user base in the U.S.