Blockchain based reward program Ribbit.Me recently initiated the launch of Marketplace.life, reportedly the first-ever peer-to-peer marketplace that features a cash back reward system.

As per the available details, the new Ribbit.Me platform will further allow users to transact in all kind of fiat and digital currencies, including Bitcoin. The cash rewards — RibbitRewards — meanwhile will be allocated to users upon successful transactions. These reward points, just like those given by credit cards, can be used later in future transactions. A small percentage of RibbitRewards will also be donated to support the Marketplace.life network; so as to excuse sellers from shedding hefty commissions to run the marketplace.

Overall, Marketplace.life is promising to involve more and more people in the blockchain technology. if implemented accurately, the platform will likely bring more users to the cryptocurrency sector, creating a much-needed support for this next generation payment technologies.

Keeping such long term goals in mind, Ribbit.Me has further announced to partner with Spendabit, a search engine for things people could buy using Bitcoin. “Marketplace.life has undergone rigorous development for about 14 months now,” the company’s COO, Zlatco Bijelic, said.

“Through our affiliation with Spendabit, we will be kicking off with more than a million products.  Spendabit’s expansive retail network is an ideal access point for Marketplace.life shoppers who want to spend Bitcoin. We are continuously working on new features that will allow the customer to be able to use Marketplace.life as their primary shopping hub.”

Spendabit currently lists products from some of the biggest online retail stores that accept Bitcoin. These include Overstock, Newegg, TigerDirect, Rakuten and many others.