Sceptercash combines innovative crypto tools with industry data collection to create a permanent feedback loop between retail operations and commercial brand end-users. Through the deployment of a multiple-channel blockchain token rewards program, the company anticipates Sceptercash tokens will facilitate the expansion of its consumer brands while attracting and retaining new global customers.
Here’s what Robert Van Boerum said about his company and the latest news in the industry,
First of all, tell us something about yourself:
I have a background in technology companies. My past career experiences guided me to this business, where I build and market consumer packaged goods, supplements, and beverages. Scepter Holdings creates high-performance brands.
When was the company launched and how many members were their initially?
Scepter Holdings, Inc. has been around since January 2007. In 2018 the company completed several asset purchase agreements. These new acquisitions allowed us to expanded our retail footprint. We have been able to market and sell our brand products on a global scale. This new growth originated with the brands Gervitta and Dermacia.
How strong is the team now?
We are a small team of three seasoned executives that are very capable of competing against billion-dollar name brands. We believe in keeping our operating costs low. My team leverages the expertise of third-party consultants, advisors, and global partners without draining the company bank account. This attitude has garnered us a real “David vs. Goliath” status and reputation. To answer your question, our team and our company are rock solid.
If you don’t mind, tell us more about the strengths of your team. What is their average background and experience?
Each of the executives at Scepter Holdings has a wide-ranging background in the consumer packaged goods industry (CPG). Each individual has worked directly with large U.S. retailer operators in the marketing of consumer brands and products. Their experience also includes launching and marketing brand products online through Amazon, the leading U.S. e-retailer.
We are all experienced with developing new retail products and integrating operations with co-packers. Our knowledge and expertise has been presenting consumer goods for inclusion in some of the nation’s largest retail chain stores, such as Walmart and Costco.
What was your motivation behind starting this project?
Our focus is two-fold. First, we were interested in rewarding loyal consumers for their participation. Second, we are building a mechanism that will allow us to receive marketing data. The modern decentralized token platform has become a tool that will enable us to share a portion of the company’s revenue with loyal customers and potential end-users. This process generates a loyalty reward. At the same time, broad international exposure allows us to target new global consumer markets.
What is your ICO about?
Our primary focus is on introducing our brands to potential international customers and new global markets. We hope that using token rewards will encourage greater brand participation. However, we did not need to have an ICO, and Scepter Holdings did not sell anything. Our operation did not have to raise any money because the company was already functioning. We were not a startup! The business acquired a block of tokens SCPT and contractually committed to the rewards.
How did you decide to use the blockchain technology for this particular project?
We believe that blockchain technology is the future of worldwide business. The modern benefits and opportunities presented by blockchain tools, such as tokens, are quickly outpacing existing marketing industry applications.
Our team is targeting expansion into international markets, and a crypto token provides the mechanism to accomplish this task. Through its blockchain platform, the SCPT token affords a secure way to participate in our brands and retail products. Anyone residing outside the U.S. can engage with token rewards.
Is it your first blockchain-technology-based ICO or have you previously worked with another blockchain project?
This is one of my first project with blockchain technology.
Why not simply use fiat?
As a U.S. company, fiat currency (USD) presents challenges on an international scale. Tokens are not currency, nor do they represent money. The blockchain furnishes us with an economical method to reward users. The lowest transaction fees, plus, and no bank account or credit card needed!
What gave you an idea that going the ICO way would be better for your start-up rather than seeking venture capital in the conventional way?
We are already a public company and have access to traditional U.S. public markets. However, for brand fans and customers outside of the US we believe the blockchain functions in a more convenient and secure way. We did not offer an ICO or raise any funds with tokens.
Why do you think participants would like to invest in your ICO? What will they get in return?
Let me explain; we did not conduct an ICO because we did not need to raise money. We did not sell any tokens: the company acquired a block through a contract that requires us to participate in token rewards.
The concept is to increase our product sales and grow our customer base. The company is now rewarding loyal customers and fans of our products for buying and promoting our brand products.
International customers can utilize these blockchain tokens. The crypto units also will become an excellent and secure method for identifying users and fans of our products. We believe that this token reward mechanism will encourage other retailers and consumers to participate in our products.
In which geographic regions are you focusing? Or is it an internationally available ICO?
Our token is available to anyone outside of the US, as previously indicated, we created the token to help develop our international business.
Will there be a fee needed to use your platform or digital product? If yes, how much?
Will the user need a specific wallet to use your currency or your service?
Any wallet accepting ERC20 tokens will support SCPT. We are working hard with our blockchain experts to introduce Sceptercash across additional trading exchanges. This expansion should help to increase the token distribution and trading. Right now trading takes place on Token.store and Coinlim.com
Who basically is your target audience?
The international target market consists of any consumer outside of the U.S. that uses or needs cosmetics or supplements. Over the next year, we anticipate introducing new CPG brands to serve an even larger consumer base.
How has been the pre-ICO response so far? Are you satisfied with the way things are progressing?
The response has been positive, although participation has not been as great as we expected. We understand that these things take time and we are learning as we go.
How do you think the blockchain technology has improved since last year and how is it going to impact your own business?
We believe blockchain is just beginning to be used with CPG products and industry, and we believe we are an early-mover in the space. We anticipate that consumer adoption and consumable-product participation will only increase in the coming years.
Where do you think the blockchain technology is heading and what effect is it going to have on your project in the coming years?
I think blockchain technology will become more reliable and common place in the next few years. I think regulation will continue to mature to support blockchain as a reliable value transaction mechanism. We believe it will only serve to increase the size of our consumer base.
Other than your own project, do you have any favourite blockchain projects you closely follow?
We have been big fans of the industry as a whole, tracking bitcoin and Ethereum. We haven’t been involved in any other token projects yet.
What are your future growth plans?
We hope to identify other ways to utilize blockchain in our business, to ultimately make it part of our order process. We would like to introduce additional tokens that are tied to individual brands and customer-fan bases.