[Blockchain Today Reporter Ji-Hye Han] Milk Partners (CEO Jo Jung-min), who operates the blockchain-based point integration platform’MiL.
◇It has established itself as a practical blockchain service useful in real life, driving the popularization of domestic blockchains.
In April of last year, following the global travel and leisure platform Yanolja, Milk, which started the full-scale service with account linking with Shinsegae Internet Duty Free, is leading the popularization of domestic blockchain services by presenting a new paradigm and vision to the point market.
Milk is a blockchain service that can be useful in real life among numerous domestic and foreign blockchain projects, and has reached 420,000 subscribers within one year of the official launch of the app. This is a result of an increase of more than 20 times compared to the second quarter of the previous year, when it was launched, and 75% of these users are actively using the service even last month.
In particular, compared to 210,000 in December last year, the number of subscribers has doubled in just three months, and is expected to show a steeper growth this year.
◇ Increase the value of user asset utilization through point transaction function, popular among 2030 MZ generation
Milk can be used by collecting scrap points that are not easy to use because the expiration date is short or the amount is small. Currently, Yanolja and Shinsegae Internet Duty Free are supporting points to be exchanged or integrated with milk coins in the milk app, or, conversely, by using milk coins to purchase points of each partner at low cost.
The volume of exchange between milk coins and partners’ points has been continuously expanding since the launch of the service, with the feature of increasing the utilization value of the valuable assets of users called points. As of the first quarter of this year, the exchange amount and number of transactions between milk coins and points increased 56 times and 84 times compared to the second quarter of the previous year, respectively. It has been confirmed that the number of users using is increasing.
In addition, it was found that the average amount per exchange of points using milk coins was larger than in the opposite case, because milk coins can be used to purchase points from partners at low prices. In fact, the average amount per purchase of points with milk coins was about 21,000 won, and the average amount per exchange of points with milk coins was about 4,000 won, showing a difference of more than 5 times.
As for the age group of milk users, 2030 accounts for 65%, and it is found that it is particularly popular among the 2030 MZ generation who are familiar with using points and using apps. The gender of the user is about 7:3, and it was confirmed that male customers are using the Milk app more actively.
◇Continuous service enhancement efforts to expand user benefits and convenience, becoming the No. 1 in both app markets
In addition to the point integration and exchange function, continuous efforts to enhance service to expand user benefits and convenience are considered as factors that have grown milk in a short period of time.
Milk Partners cooperated with Korea Phase Service last year to make it possible to trade not only points but also book culture vouchers on the Milk App. The usability of milk was further strengthened by supporting the transaction of Book&Life online gift certificates, which have more than 600 affiliates such as Payco, SSG Pay, Nexon, Melon, Kyobo Bookstore, Lotte Home Shopping, and Olive Young. ‘Tadazan Mart’, where you can purchase various mobile coupons at low prices, and’Milk Pack’, a user compensation marketing program, are also being operated by attracting great response from users.
This year, an attempt is being made to provide a variety of blockchain service experiences and benefits to more users. It signed a business agreement with Immel Ventures, which develops’Something’, a blockchain-based karaoke app, and successfully completed an event to spread non-face-to-face cultural contents and activate services.
In recent years, starting with Yanolja for the first time, the user convenience has been further enhanced by releasing the’Easy Link 2.0′ function that allows users to sign up for milk members and link accounts of both companies on a PC or mobile affiliate webpage without downloading a separate milk app.
As such, Milk continues to enhance user convenience and benefits through partner expansion, new function updates, events, etc., and ranked #1 in real-time popular apps in the lifestyle category of Google Play and Apple App Store, both major app markets. It is showing a possible growth trend.
“The rapid growth of milk was possible because there were users who supported milk,” said Jung-min Cho, CEO of Milk Partners. “In order to provide more differentiated benefits with the goal of reaching 1 million subscribers within the year, we introduced the Lounge M membership system and various industries. He said, “We plan to focus on improving user convenience so that we can create synergy between Clip and Milk platforms through multilateral cooperation, as we actively strive to recruit partners of the company and have formed a strategic business alliance with Kakao’s blockchain subsidiary, Ground X.”
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