What problem is Plato solving?

Plato solves the attribution challenges retailers face when running digital marketing campaigns. Currently, tracking clicks/taps and correlating them to in-person visits during marketing campaigns is nearly impossible. Plato overcomes this issue by providing transparent ROI and CAC data to restaurants and retailers. This data empowers business owners and marketers to optimize their marketing campaigns and maximize their budgets. We achieve this by coordinating and amplifying the word-of-mouth effect.

How does Plato amplify word of mouth?

Currently, word of mouth tends to remain within private conversations. Sure, there are reviews on platforms like Yelp!, Google Maps, and TripAdvisor. However, consider the last time you reviewed a restaurant you visited. You probably did so because you were either extremely dissatisfied or unexpectedly delighted by the restaurant. In fact, according to our online poll, only 3% of consumers post a review after dining. We aim to change that.

Plato incentivizes consumers (aka ‘eaters’) to review individual dishes they’ve had, verified by a receipt capture, before issuing any DINE rewards. Eaters can earn rewards for good, mediocre, or bad reviews about their food and restaurant experiences. Our goal is to encourage the remaining majority of diners to share their restaurant experiences through the Plato Eats decentralized application (dApp).

How is this different from Google Ads / Yelp! / TripAdvisors…?

Plato’s incentive design converts 70% of restaurant marketing spending into rewards for content creation and profit-sharing for eaters who bring restaurants onboard as marketing partners. This means that Plato creates an Ambassador Badge NFT when a consumer brings their favorite restaurant onto Plato as a marketing partner. The NFT holder will receive a percentage of any future marketing spending from that restaurant.

In Web2, platforms like Yelp, Google Ads, and TripAdvisor require large business development teams to add restaurants one by one. However, with Plato, every eater knows that it’s a land grab to onboard their local restaurant and earn a commission on future marketing spending.

Business behind Plato

Behind the scenes, Plato is a marketing platform for restaurants. The rewards consumers earn are powered by restaurant marketing spending on Plato, where 70% of the marketing budget from restaurants goes to consumers. By doing this, Plato amplifies the word-of-mouth effect for restaurants, which is the best form of marketing.

The revenue generated by the Plato Protocol is derived from retail restaurants (merchants) running marketing campaigns on the platform. As mentioned above, 70% of the marketing revenue generated by retail merchants is given to consumers who visit the retail restaurant in the form of DINE tokens. These tokens can be used to redeem food and drinks when they return, thus increasing customer return rates.

The remaining 30% of the revenue is kept in the treasury wallet. Holders of the Plato Eats Pass are eligible to vote on governance issues, including how to use treasury funds.

What can you do with DINE rewards?

Redeem for food, prizes, and much more! Follow us on Twitter to get the latest.