Thread by @abhymurarka

CRED coins

Resemblance to Bread coins in purely co-incidental.

Two DMs asking if I have an issue with CRED. No I don't, but I think this was again a marketing ploy more than anything. Virtue signalling created out of thin air.

Let me explain:

1. Cost of CRED points to users was zero as these were freely given as a carrot to acquire users.

2. Value to users was also near zero as there was no practical offers.

3. This was leading to trolling.

4. Turned it into a marketing ploy to ride on sympathy wave for Covid relief. Assured no more trolling on that aspect.

5. Did it help the cause? I REALLY think it hasn't.

Why?

By getting people to tweet their contribution along with a nice done graphic, CRED turned them into brand ambassadors. Folks are now defending themselves & not CRED. I get it you exhausted your points & donated 1000-10K litres of oxygen. But that's a donation of Rs 9 - 180.

"Something is better than nothing" some would argue.

I don't think so. People don't donate multiple times. So if 10 lakh people exhausted CRED value of say 50 bucks, the contribution is 5 crs. But even if 1% of this had otherwise donated Rs 5000, the trusts would be better off.

Guys, even if you donated via your CRED coins, please consider making some real donation. You can select from one of the many verified charitable trusts at
donate.indiacovidresources.in