Thesis, the venture studio behind Bitcoin-native powerhouses like Fold and Mezo, just made a strategic play to dominate the rewards space. The company acquired Lolli in a bid to merge earning and spending Bitcoin into one seamless loop.
According to a press release on July 2nd, Thesis finalized its acquisition of Lolli, one of the longest-running Bitcoin (BTC) rewards platforms. The move is designed to tighten the connection between earning and using BTC.
The deal brings Lolli under the same umbrella as Fold, Mezo, and tBTC. These products are already known for bridging Bitcoin with real-world commerce. Matt Luongo, CEO of Thesis and co-founder of Fold, will now steer Lolli’s next phase.
“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. Together, we’re creating the easiest and most rewarding entry point for millions to join the Bitcoin economy,” Luongo stated.
The acquisition signals a broader shift in Bitcoin’s trajectory from speculative asset to functional currency.
How Lolli’s next chapter could reshape Bitcoin adoption
Under Matt Luongo’s leadership, Lolli plans to enhance its rewards platform while laying the groundwork for global expansion.
In the coming months, the company will roll out major improvements to its popular Arcade and Daily Stack features, adding more games, quests, and higher-value rewards to make Bitcoin accumulation more engaging and accessible.
Strategically, the integration with Fold’s ecosystem aims to create a seamless loop between earning and spending Bitcoin. The companies are collaborating on an expanded gift card marketplace that will offer more brands and higher reward rates.
More importantly, Lolli intends to address one of its most common user complaints by implementing instant payouts, eliminating the waiting period between earning and accessing Bitcoin rewards. This change alone could significantly improve user retention and engagement.
The strategic value of the deal becomes clear when viewed in the context of Thesis’s broader portfolio. By combining Lolli’s rewards platform with Fold’s spending capabilities, Mezo’s earning tools, and tBTC’s cross-chain functionality, Thesis is building the infrastructure for a self-sustaining Bitcoin economy.
At the same time, Lolli’s existing traction, including 600,000 users and $20 million in rewards paid out since 2018, provides Thesis with a substantial user base to build upon. But the real measure of success will be whether this acquisition can convert casual earners into active participants in the Bitcoin economy.
