Thesis* Acquires Lolli: Building a Unified Bitcoin Rewards Ecosystem
Thesis*, a Bitcoin-focused venture studio, has announced the acquisition of Lolli, a bitcoin rewards platform. The move is designed to integrate Lolli with its existing portfolio of companies—Fold, Mezo, and tBTC—to create a more cohesive consumer Bitcoin experience. According to the announcement, Thesis* plans to enhance user engagement through expanded rewards and new partnerships.
Lolli, founded in 2018, enables users to earn bitcoin through everyday shopping at 50,000+ stores and playing 1,000+ mobile games. To date, it has rewarded over 600,000 users with more than $20 million in bitcoin. The platform’s core mission is to lower the barrier to Bitcoin by making it accessible without requiring direct purchases. Thesis*, operating since 2014, built Bitcoin-native projects like Fold, which recently became a publicly traded Bitcoin financial services company. Matt Luongo serves as CEO of Thesis* and co-founder of Fold.
Vision Behind the Merger and User Experience Enhancement
“Having competed alongside Lolli for years, I’ve admired their ability to onboard users through accessible and engaging experiences. At Thesis*, we believe Bitcoin’s real growth is driven by everyday interactions—shopping, gaming, spending—not just investment portfolios,” said Matt Luongo, who will now lead Lolli’s next phase. He added that Lolli’s user base and reward model align with its vision of driving Bitcoin adoption through practical use cases.
Lolli’s founder and former CEO, Alex Adelman, expressed excitement about joining Thesis*: “We are excited to join forces with Thesis* to power the next phase of bitcoin adoption through rewards. Thesis* brings deep infrastructure expertise and a shared vision, enabling us to significantly enhance our platform.” Thesis* believes the acquisition will address fragmentation in the Bitcoin consumer experience by uniting Lolli’s rewards with Fold’s financial services and the broader ecosystem.
Upcoming Upgrades: Instant Payouts, Global Expansion, and the New Lolli Market
Under Luongo’s leadership, Thesis* has outlined several planned upgrades for Lolli. The Arcade and Daily Stack features will be enhanced with more games, quests, and larger rewards. A new “Lolli Market” is in development, aiming to offer more brands, higher cashback rates, and global accessibility. To meet user demand for faster redemptions, Lolli plans to introduce instant reward payouts later in 2025. Additionally, Lolli will collaborate with Fold on an expanded gift card marketplace to increase earning opportunities.
For global reach, Lolli is now developing an international expansion strategy to bring bitcoin rewards beyond the U.S. To support these changes, Thesis* plans to migrate Lolli to a more scalable infrastructure. This will strengthen Lolli’s ability to onboard new users and handle increased activity.
Toward a Circular Bitcoin Economy: Seamless Earning and Spending
Thesis* sees this acquisition as a step toward a circular Bitcoin economy, where earning and spending bitcoin become seamless. By integrating Lolli’s rewards with Fold’s financial services, Mezo’s Layer 2 solutions, and tBTC’s cross-chain bridged bitcoin, Thesis* aims to close the gap between bitcoin rewards and everyday use, making adoption easier for millions. This integrated ecosystem represents a practical blueprint for mainstream Bitcoin adoption.