- Visa launches Web3 loyalty program with digital wallets for tokenised rewards and perks.
- Accessibility is key, no blockchain knowledge needed, even registration takes just two clicks.
- Brands like Starbucks, Nike & Dolce & Gabbana already use Web3 for unique fan experiences.
Visa, the global payments giant, is stepping into the world of Web3 with the launch of an innovative loyalty rewards program in partnership with SmartMedia Technologies.
This exciting venture aims to enhance customer engagement and offer digital enthusiasts a unique way to interact with brands.
The Web3 Loyalty Rewards
Visa’s latest initiative introduces a Web3-based loyalty rewards system designed to captivate and delight customers.
Here’s how it works: users will receive digital wallets that enable them to accumulate tokenised tickets, loyalty coins, digital collectibles, and other enticing perks from their favourite brands. These rewards can be used to enhance both virtual and physical experiences, creating a dynamic ecosystem of incentives.
Importantly, Visa ensures that this Web3 rewards program is accessible to all, even those without advanced knowledge of blockchain technology. A Visa spokesperson emphasized that the platform is user-friendly, making it effortless for both partners and consumers to navigate. This simplicity is underscored by a straightforward two-click mobile registration process.
SmartMedia Technologies: The Power Behind the Platform
Visa’s ambitious foray into Web3 loyalty rewards is made possible through its collaboration with SmartMedia Technologies, an enterprise Web3 platform. Founded in 2018, SmartMedia Technologies boasts a rich history of partnering with renowned entities such as American Express, Unilever, and luxury fashion brand Burberry.
SmartMedia Technologies CEO, Tyler Moebius, expressed the significance of this partnership:
“This collaboration with Visa isn’t just about enhancing customer rewards; it’s about redefining the value exchange between brands and consumers in a mobile payments-first world.”
As Visa embraces the world of Web3, this innovative loyalty rewards program promises to reshape the way consumers engage with brands. With a focus on accessibility and simplicity, it opens new doors for digital enthusiasts and offers brands a unique avenue to connect with their audience.
Brands and Web3 Loyalty
Several mainstream brands have dipped their toes into the Web3 waters by launching loyalty programs incorporating elements like NFTs, blockchain, and community engagement.
Starbucks Odyssey: This program gamifies coffee with digital collectible stamps (NFTs) earned through purchases, challenges, and interactive games. These stamps grant access to exclusive experiences, merchandise, and community events.
Nike: Through their virtual world NIKELAND on Roblox, Nike rewards users with tokens redeemable for digital apparel and exclusive brand experiences.
Dolce & Gabbana: They released NFTs tied to physical purchases, offering owners access to exclusive content, events, and personalised experiences.
GameStop: Their loyalty program integrates with the Gods Unchained game, offering members special NFT trading cards and unique in-game benefits.
Beyond these, other brands are exploring Web3 loyalty approaches, including:
- American Express: Pilot testing NFT rewards for select cardholders.
- Sephora: Partnering with blockchain platform VeChain to create a limited-edition NFT beauty product line with loyalty benefits.
- MLB: Launching an NFT-based ticketing program for select teams.