We'll be back soon!

On April 22, 2022, Troika IO is announcing an end to the Redeeem gift card/NFT marketplace and peer-to-peer trading.

We'll be back soon!

For the last four years, the Redeeem team has worked tirelessly to build a fast, safe, and easy way to earn Bitcoin on a peer-to-peer marketplace.

Since 2018, Redeeem has facilitated the trading of tens of millions of dollars in digital assets—ranging from gift cards, gift vouchers, cryptocurrency, rare wine, gold bullion, luxury watches, handbags, and more.

On May 24, 2021, Troika Media Group (NASDAQ:TRKA) acquired the Redeeem NFT platform for $1.21 million in cash and $10.89 million in common stock of TMG that vest over three years.

On February 18, 2022, TMG, through its subsidiary, Troika IO, became the first publicly-traded Nasdaq company to use the Bitcoin ledger to secure its non-fungible tokens (NFTs) backed by luxury brands.

On February 24, 2022, TMG signed a binding purchase agreement to acquire the marketing agency Converge for a total consideration of $125 million. Converge Direct, LLC generated approximately $300 million of revenue and $23 million of adjusted EBITDA for the year ending December 31, 2021.

On April 22, 2022, Troika IO is announcing an end to the Redeeem gift card/NFT marketplace and peer-to-peer trading. The team will focus 100% of its resources on integrating our enterprise Web3 API products into Converge and ushering TMG's extensive network of global brands into the Metaverse.

Going forward, Troika IO will continue to benefit from and utilize Redeeem's robust API, and IP/infrastructure, as well as the product team's expertise in technology, Web3/NFTs, and mobile payments. Troika IO will offer value-added services to clients in sports, entertainment, gaming, and consumer goods.

Below are helpful links, resources, and information regarding the sunsetting process of Redeeem that will commence on Saturday, April 23, 2022. In the meantime, please subscribe to our newsletter and we'll be in touch.

Redeeem Trading

We are giving users until the end of the week to stop creating new gift card sale offers, and the end of the month to stop buying gift cards. The NFT marketplace will be closed by the end of the week.

  • Redeeem NFT marketplace will stop minting new NFTs at 12:00 UTC on Saturday, April 23, 2022, at which time all public NFT pages will be disabled.
  • Redeeem will stop accepting new gift card  offers at 12:00 UTC on Saturday, April 23, 2022, at which time all Create Offer pages will be disabled.
  • Redeeem will stop accepting new gift card bid offers at 12:00 UTC on Saturday, April 30, 2022, at which time all Gift Card pages will be disabled.
  • Users will still have access to download their entire Offers history after April 30 by emailing customer support.

Redeeem Wallets

Rest assured, all your funds are safe. In our latest attestation report, Redeeem accounted for 100% of its liabilities. However, we are requiring all funds to be withdrawn off the platform by Saturday, April 30, 2022, at which time access to all private wallets will be disabled.

  • Redeeem will stop accepting new credit card deposits at 12:00 UTC on Saturday, April 23, 2022, at which time Stripe pages will be disabled.
  • Redeeem will stop accepting new cryptocurrency deposits at 12:00 UTC on Saturday, April 30, 2022, at which time all Fund buttons will be disabled.
  • Users will still have access to download their entire Wallets history after April 30 by emailing customer support.

Troika IO

With more fashion and luxury brands looking to capitalize on NFTs and crypto offerings, Troika IO will provide a software development toolkit (SDK) on a powerful blockchain platform that allows brands to seamlessly sell luxury-backed assets in the Metaverse using Bitcoin and other blockchains.

One of our goals at Troika IO is to demystify the world of NFTs for the general market. One way we’re doing that is by bridging the digital and physical divide with our physically-backed NFTs and Troika API.

Troika Group

Troika Group (NASDAQ:TRKA) is an end-to-end brand solutions company that creates both near-term and long-term value for global brands in entertainment, sports, and consumer products. Applying emerging technology, data science, and world-class creative, TMG helps brands deepen engagement with audiences and fans throughout the consumer journey and builds brand equity.

Clients include Apple, Hulu, Riot Games, Belvedere Vodka, Unilever, UFC, Peloton, CNN, HBO, ESPN, Wynn Resorts and Casinos, Tiffany & Co., IMAX, Netflix, Sony and Coca-Cola. For more info, visit troikamedia.com.

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