Jupiter Wellness Becomes First Upstream Issuer to Launch a Digital Coupon (NFT) to Reward Shareholders of Record
Shareholders can claim the digital coupon that may be redeemed for a gift package or sold on Upstream to fans globally
By Fernanda De La Torre
This week Jupiter Wellness (NASDAQ: JUPW) (Upstream: JUPW), one of the first issuers to dual list on Upstream, announced the launch of their digital coupon (NFT) available for all shareholders of record to claim. Shareholders may claim their free digital coupon for a gift package of company products valued at over $179 and either claim the gift for themselves or sell the NFT to fans globally on the Upstream trading app.
For full details on the Jupiter Wellness digital coupon visit: https://jupiterwellness.com/investors/shareholder-faq/
What is Upstream’s Digital Coupon Strategy?
Upstream issuers’ digital coupons are awarded to all shareholders as a redeemable non-fungible token (NFT), one per shareholder regardless of the number of shares owned as of the record date. The digital coupons are not securities and are issued as ERC-721 tokens, an Ethereum blockchain standard for representing ownership of NFTs where each token has a unique identifier.
Our digital coupon strategy for Upstream issuers leverages our redeemable NFT technology to drive shareholder engagement and additional issuer revenue potential. It allows shareholders to get firsthand experience with issuers’ products and opens the door for new customers as shareholders may decide to sell the digital coupon for US dollars on Upstream’s regulated market to non-shareholders.
A redeemable NFT on Upstream enables buyers to redeem an item or experience while still being able to hold the underlying digital collectible. Upon redemption, the NFT unlocking the experience is ‘burned’ and replaced with an evolved NFT that can be held as a collector’s item for proof of redemption, proof of attendance, a commemorative keepsake, or even for further trading.
Who can participate?
All shareholders of record are entitled to claim the digital coupon by creating an account on Upstream and verifying their shareholder status. Shareholders of record may either redeem their coupon to try the product first-hand or sell it to other fans globally on Upstream for U.S. dollars.
Interested participants who are not shareholders may purchase a digital coupon on Upstream’s market only if a shareholder puts their digital coupon up for sale.
How to participate
Before a digital coupon release, all issuers’ shareholders can prepare by downloading the Upstream app, entering a password to create their account, and completing the KYC identity verification process.
Here’s how shareholders as of the set record date can claim their digital coupon:
- Download Upstream and tap Sign Up.
- Complete KYC by tapping the settings icon at the top right of the home screen and tapping KYC. Have an ID handy.
- Tap Investor, NFT, NFT claim, and enter the claim code as shared by the issuer on email, social, their website, etc.
- Shareholders will receive an app notice that their claim is being processed and once verified, the digital coupon will automatically appear in your Upstream portfolio, typically within 48 hours. If shares are held at a brokerage, you will receive a request for an account statement via email to verify that you’re a shareholder as of the record date.
- Before you can redeem the digital coupon, you must have it successfully claimed and in your Upstream portfolio. You can check that you’ve received your digital coupon by opening Upstream and tapping Portfolio.
- Once the digital coupon is in your portfolio, you may redeem the digital coupon for the reward or sell the digital coupon to another Upstream user and withdraw U.S. dollars.
How to Redeem a Digital Coupon
After successfully claiming the digital coupon as a shareholder and finding it in your Upstream portfolio or after purchasing the digital coupon from a shareholder on Upstream you’re ready to redeem the digital coupon for your gift package!
- Open Upstream, tap Investor, NFT, NFT Redeem, and enter the digital coupon (NFT) ticker symbol.
- Tap ‘Redeem.’
- Upon successful redemption, the holder will be sent, via push notification, a unique redemption code. The digital coupon will be removed from the Upstream portfolio and replaced with a commemorative NFT.
Supply this unique redemption code to the issuer to fulfill the utility offered by the digital coupon. The issuer will only fulfill the utility once per unique redemption code. Find your redemption code any time from the message center.
To find the message center:
- Go Home and Tap on the settings icon toggle in the top right corner
- Click Message Center and you should see a message containing the Redemption Code
Jupiter Wellness is the first of many Upstream issuers to launch a digital coupon on Upstream for all shareholders to claim and redeem or sell.
Upstream is actively accepting dual-listing applications from NASDAQ, NYSE, and OTC Markets issuers currently trading on U.S. markets and Alternative Trading Systems (ATSs) that are seeking to offer their shares to a modern-day investor pool that accepts digital currency and traditional payments. Learn more at: https://upstream.exchange/GetListed or reach the team at firstname.lastname@example.org.
Jupiter Wellness digital coupon NFTs received have an economic value of $179, however the NFT (digital coupons) have no royalties, equity ownership, or dividends.
This communication shall not constitute an offer to sell securities or the solicitation of an offer to buy securities in any jurisdiction where such offer or solicitation is not permitted.
Commemorative NFTs are for utility, collection, and display only.
Redeemable NFTs and Commemorative NFTs are not securities and may be bought and sold globally, including by U.S. and Canadian persons.
U.S. and Canadian persons are not permitted to purchase Upstream listed securities but are permitted to sell securities they currently own, that have been listed on Upstream, for liquidation purposes only.
If funding Upstream with an ACH or wire bank payment, users must complete Upstream’s in-app KYC process to get their new, FDIC-insured, Upstream U.S. bank account details via email. Users may then initiate a funds-transfer from their bank or financial institution to this new U.S. Dollar bank account. If you haven’t completed KYC yet or didn’t select ‘Bank’ as the ‘Deposit From’ option when you completed the process initially, then please go through KYC again selecting the ‘Bank’ payment method. Users may complete the simple KYC process by tapping the settings icon and the KYC option inside the Upstream app.
This communication contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential,” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified, and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) difficulties in obtaining financing on commercially reasonable terms; (ii) changes in the size and nature of our competition; (iii) loss of one or more key executives or brand ambassadors; and (iv) changes in legal or regulatory requirements in the markets in which we operate. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise’