Alipay taps Avalanche for Web3-powered voucher program

cyptouser7 months agoCryptocurrencies News128
25cc9d4a>

Online payment platform Alipay has collaborated with the smart contract blockchain platform Avalanche to create a voucher program powered by Web3 technology. 

On March 20, Avalanche announced that Alipay’s ordering solution, Alipay+ D-store, and its partnered e-wallets are using Avalanche for a Web3-enabled voucher program.

The program was rolled out in Southeast Asian milk tea stores, letting consumers acquire vouchers by playing a mini-game. After completing the game, customers can claim a voucher in their e-wallet. 

Avalanche explained that the vouchers let users get up to 50% discounts on over 500 milk tea shops. 

Mechanics of the Web3 voucher program. Source: Avalanche

The vouchers are powered by an Avalanche Subnet built and managed by its blockchain service AvaCloud. According to Avalanche, the vouchers aim to allow brands like Alipay to experience solutions powered by Web3 technology. Avalanche wrote:

“The POC will allow brands like Alipay+ D-store to test Web3 solutions, including how they can help merchants foster new forms of interaction with users, helping retain them and generate new revenue streams.”

Furthermore, the blockchain platform said that this program opens up possibilities for Alipay to collaborate with other brands using blockchain-powered features and digital collectibles.

Avalanche highlighted that the program is still in the first phase of its proof-of-concept (POC) stage. The blockchain platform said the program is looking to roll out to more than 2,000 stores and aims to introduce the vouchers to 100 million users.

Related: Avalanche halts block production amid inscription wave launch

Avalanche has been building up its ecosystem in 2024, partnering with well-known brands. On Feb. 20, the smart contract platform partnered with Sports Illustrated’s ticketing arm, SI Tickets.

The collaboration let Avalanche host SI Ticket’s nonfungible token (NFT) ticketing platform, Box Office. This means that the NFT tickets on the platform are now minted in the Avalanche network.

The proof-of-stake (PoS) blockchain has also been diving into gaming. On March 11, Avalanche announced that the popular massively multiplayer online role-playing game (MMORPG) MapleStory will expand into an Avalanche subnet, offering content-generation opportunities to users.

Magazine: OKX token’s $6.5B flash crash, crypto exec ‘Mr Bang’ on the run: Asia Express

The content on this website comes from the Internet. Due to the inconvenience of proofreading the authenticity and accuracy of the copyright or content of some content, it may be temporarily impossible to confirm the authenticity and accuracy of the copyright or content. For copyright issues or other issues caused by this, please Call or email this site. It will be deleted or changed immediately after verification.

related articles

BitForex alleged $2.5 billion volume flatlines as exchange abruptly goes offline

BitForex alleged $2.5 billion volume flatlines as exchange abruptly goes offline

Hong Kong-based crypto exchange BitForex appears to have gone entirely dark following the suspension...

Fidelity amends Ether ETF Filing, discloses $4.7M in seed capital

Fidelity amends Ether ETF Filing, discloses $4.7M in seed capital

55966e89˃Investment giant Fidelity has again updated its application for a spot Ether (ETH) exchange...

Binance exec seeks redress over Nigeria detention, demands apology

Binance exec seeks redress over Nigeria detention, demands apology

25cc9d4a˃Binance's Head of Financial Crime Compliance has asked the Federal High Court in Nigeria to...

Abra settles with fifth state as US operations may be winding down

Abra settles with fifth state as US operations may be winding down

25cc9d4a˃Cryptocurrency platform Abra and its CEO William Barhydt reached a settlement with the Oreg...

Former President Donald Trump-related memecoin lead market following new crypto promises

Former President Donald Trump continued his advances toward the crypto community by hosting an event...

Known scammer linked to memecoin named after Musk's Grok chatbot, token dumps

GROK, a suspicious AI chatbot-inspired memecoin, has seen its value plummet by more than 50% after r...