PlutusGifts: Everyday Savings, Powered by Web3

PlutusGifts launched on 29th November with a 30% dynamic fee structure, as outlined in our pre-launch announcement. While we initially planned to release only a handful of brands, we exceeded expectations by launching over 300 brands, including options in both the UK and Europe with a 0% fee. This shows our commitment to delivering on the promise of “1 PLU = £/€10 Gift Card”, while offering customers hundreds of unexpected new options.

How Dynamic Fees Work

Within just a few weeks of our November launch, PlutusGifts saw over £/€300K in redemptions during early access. While exciting, the high demand meant that offering £/€10 gift cards at a loss to nearly 150,000 users who joined after 10th December was no longer possible—a limitation that was clarified ahead of the launch.

As redemptions grew rapidly—surpassing our preset thresholds after full access—the fee structure adjusted incrementally, eventually settling into the current post-access structure.

Here’s how the dynamic fees evolved since launch:

How Customers Are Still Benefiting

Despite the dynamic fees, users in both the UK and EU gained significant value during the early phases, redeeming PLU for over £300k worth of gift cards at a 30% fee, and continue to benefit under the current fee structure, as shown by the updated sales figures since (EU & UK): 

Additionally, the tables below illustrate the average and potential costs and savings for each customer during the fee adjustments, along with the source of the minimum £/€10 anchor achieved through PlutusGifts.

Early Access: Nov 29th 

‍Full Access: Dec 10th

Post Access: Dec 13th

What’s Next for PlutusGifts?

By the end of Q1 2025, PlutusGifts will no longer charge fees. The tone of promotion will shift from a fee-based structure to a discount-based system, achieving a better outcome while managing customer expectations with greater clarity and fairness. Here’s how: 

1) £/€10 Anchored Values for Stability

The old PLU emissions system, developed in 2015, relies on third parties to source in-app emission rates (the value at which card rewards are issued), which doesn’t accurately reflect PLU’s intrinsic value, as these rates are influenced by trends that impact fees for additional utilities we offer. 

Moving forward, redemption and emission values will have a minimum anchor (e.g., £/€10 per PLU), ensuring stability and fairness. More details will be shared this month.

2) A Self-Sustaining Utility: No Revenue Impact

PlutusGifts is evolving into a fully self-sustaining utility, similar to our other utilities (PlutusMiles, PlutusTravel, etc.). This transition ensures that customers can enjoy enhanced benefits whilst mitigating any financial impact on Plutus—on the contrary, it will generate revenue through a percentage of sales, while continuing to provide £/€10+ in savings per PLU.

Launching in Q1, gift card values will rise to £/€1,000+, with more popular, everyday-use brands (such as supermarkets and e-commerce stores) being added. This sustainable model will be made available to all customers as a standard offering:

3) Eliminating Fees: Accessible Gift Cards for All

In addition to the default structure available to all customers in Q1, those who stack and reach a new Reward Level will unlock a bonus feature offering further discounts of 30-100% on gift card swaps starting in Q2. This ensures that 1 PLU consistently equals a £/€10 redemption value in-app, regardless of the free brands available in the UK and Europe, which also maintain a £/€10 intrinsic value for each earned reward.

Here’s how the discount per PLU will work for Reward Levels launching in Q2:

Important Note: Limited-Time Offer

The new PlutusGifts feature is exclusively available to Reward Level customers who reach a new Reward Level starting today (7th January).

• Customers already at their current level prior to this date must reach a new level (or sub-level for those at Legend or higher) by 20th February to qualify.
• Once unlocked, these benefits will remain available for a minimum of 12 months after launch, currently estimated for Q2.

Please note: Limits may apply to this feature, and both timelines and details are subject to change. More information will be provided as the feature is fully scoped and developed. More details available here.

A Stable, Rewarding Future

Our recent achievements and updates covered in this blog reflect our commitment to transparency, fairness and sustainability. By Q1 2025, PlutusGifts will become more valuable, accessible, and free from the unpredictability of external factors.

Thank you for your support as we build and scale our utilities—we’re excited for 2025!

FAQ‍

Can you clarify what features are available to everyone? And what features are available to all customers?

Q1 Model (Available to Everyone): Launching in Q1, this feature set will be accessible to all customers

Q2 Model (Exclusive to Promotional Participants): Launching in Q2, this enhanced feature set will be available exclusively to customers who unlock a higher Reward Level between 7th January and 20th February.

Where can I find more information about the promotional offer and its terms?

More information can be found here.