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The initiative begins with a VeChain-based loyalty program that businesses can adopt to boost customer-brand relationships.
World of V, a notable zero-free green NFT marketplace on VeChain, has launched an initiative that will help introduce Web 3.0 to mainstream businesses. The initiative, which leverages the VeChain network to develop an NFT loyalty program for businesses, is the first of a series of programs that World of V plans to deploy in its goal to bring Web3 to mainstream brands.
The program aims to give businesses an opportunity to offer valuable and unique experiences to their customers, according to a blog released by World of V. This should help bolster the relationship between these brands and their customers. The development was further disclosed through the marketplace’s official Twitter handle.
World of V is thrilled to introduce #NFT Loyalty Programs, the first of our solutions leveraging @vechainofficial tech to help businesses transition into #web3.$VET #VeChainHasNFTs #NFT #LoyaltyNFT #NFTs #VeChainhttps://t.co/rWzbWrFcLe
— World Of V | NFT Marketplace (@worldofv_art) January 25, 2023
Scheckster’s Raw – a South African-based health food restaurant chain – is the first brand to adopt the program. Customers who spend R200 at Scheckter’s Raw will obtain a confidential code that can be used to acquire a one-of-a-kind RAW Loyalty NFT.
They can gain access to a personalized claiming page that comprises all the crucial data to finalize the procedure in a sequence of simple steps. Upon completing the form and inputting the confidential code, they will be able to claim their RAW NFT. The token will subsequently be displayed on their individual customer dashboard, where they can review all the information about the program.
Once a customer has collected up to 10 RAW NFT points, they can redeem their NFT voucher by using it on a meal in any Scheckster’s Raw location. According to the press release, the NFTs will remain on the customer’s personalized dashboard for subsequent programs and other uses. All the transaction fees involved will be handled by World of V through VeChain’s Fee Delegation feature.
The Surge of NFT-based Loyalty Programs
World of V calls the initiative one of its ways of bridging Web2 and Web3 and expects more businesses to jump on it. “We look forward to expanding our solutions and creating more groundbreaking experiences to pave the way for Web 3.0 mass adoption,” the press release adds. VeChain also highlighted the development, lauding the NFT marketplace for the initiative.
It's amazing to see #VeChain's tech being used to help trad-businesses adopt #blockchain – great job @worldofv_art!
We're entering 'Web2.5', as companies begin to move to #Web3. The $VET Foundation builds the tools so that #VeFam can build businesses.
We're powering evolution. https://t.co/eqdDvYFOUH
— VeChain Foundation (@vechainofficial) January 27, 2023
The idea of including NFTs in loyalty programs has been conceived by several brands, as crypto adoption surges. A PlayStation patent revealed last year suggested that the brand was looking to introduce an NFT-based loyalty program. Last September, Starbucks partnered with Polygon to launch its Odyssey loyalty program. BMW is also looking to launch an NFT loyalty program in partnership with Binance Chain.