Thesis*, a Bitcoin-focused venture studio, announced its acquisition of Lolli, a bitcoin rewards platform, in a move to integrate it with its broader ecosystem of companies such as Fold, Mezo, and tBTC.
The announcement outlines plans to enhance consumer Bitcoin experiences through expanded rewards and new partnerships.
Lolli, founded in 2018 claims to have rewarded over 600,000 users with more than $20 million in bitcoin through shopping at 50,000+ stores and playing 1,000+ mobile games. Lolli’s platform is designed to make Bitcoin accessible by offering cashback and rewards for everyday activities. Thesis*, operating since 2014, has built Bitcoin-native projects like Fold, which recently became a publicly traded Bitcoin financial services company under the leadership of Matt Luongo, its CEO and Fold’s co-founder.
“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 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, added that “We are excited to join forces with Thesis* to power the next phase of bitcoin adoption through rewards with Lolli. Thesis* brings both deep infrastructure expertise and a shared vision, enabling us to significantly enhance our platform.” Thesis* believes this acquisition will address fragmentation in the Bitcoin consumer experience by uniting Lolli’s rewards with Fold’s financial services and its broader ecosystem.
Thesis* outlines several planned upgrades for Lolli under Loungo’s leadership. It intends to enhance the Arcade and Daily Stack features with more games, quests, and larger rewards. A new “Lolli Market” is in development, which seeks to offer more brands, higher cashback rates and global accessibility. Thesis* plans to introduce instant reward payouts later in 2025, responding to user demand for faster redemptions. 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. The company claims this will strengthen Lolli’s ability to onboard new users and handle increased activity.
Thesis* sees this acquisition as a step toward a circular Bitcoin economy, where earning and spending bitcoin are seamless. It hopes the integration of Lolli with Fold, Mezo and tBTC will close the gap between bitcoin rewards and everyday use, making adoption easier for millions.
