An integral characteristic of those reimagined loyalty packages is the creation of a dynamic market that may allow the alternate of rewards.
Polygon Labs is collaborating with Google Cloud and Accenture to rethink loyalty packages utilizing Web3 applied sciences. The corporations have launched a whitepaper detailing how leveraging Web3 may help develop packages that profit customers whereas remaining worthwhile for manufacturers.
The paper discusses the potential to supply rewards in kinds that transcend conventional factors methods, together with tokenized privileges, gamification, collectibles, and alternatives for customers to supply content material.
An integral characteristic of those reimagined loyalty packages is the creation of a dynamic market. This might allow the alternate of rewards, thereby growing their worth and suppleness. The report means that this technique aligns effectively with the preferences of Gen Z shoppers, who favor significant interactions with manufacturers.
Firms like Nike, Flipkart, and Nubank are cited as examples of corporations which have began incorporating Web3 options into their loyalty packages. As an illustration, Flipkart has built-in gamification into its Hold loyalty program on Polygon, which has led to a big enhance in engagement and reward redemptions.
“Our collaboration with Accenture and Google Cloud is a giant subsequent step for buyer engagement, and by leveraging the Polygon CDK and superior zero-knowledge proofs, we offer clients higher information safety and utility with loyalty rewards,” mentioned Marc Boiron, CEO of Polygon Labs.
The partnership additionally focuses on privacy-preserved information sharing to facilitate a “multiplayer commerce” mannequin. This mannequin entails the protected sharing of consumers’ loyalty statuses amongst complementary manufacturers and addresses the challenges and dangers related to information sharing in conventional loyalty packages by using zero-knowledge proofs, which allow the verification of data with out revealing the knowledge itself.
This might allow manufacturers to boost one another’s loyalty packages, stack worth, and entice new clients via collaborative efforts.
