Solana Labs debuts blockchain customer loyalty platform Bond

cyptouser4 months agoCryptocurrencies News60
55966e89>

Solana Labs, the company behind layer-1 blockchain Solana, could soon be bringing many more non-crypto native brands and their customers into Web3 without many of them even knowing.

As of June 12, the firm has officially launched Bond, its new blockchain-based customer engagement platform aimed at helping brands “drive long-term loyalty.”

Solana Labs says the new platform will address “critical limitations” in today’s loyalty programs, namely, losing connection with the end customer if a product is ever resold or gifted.

While Bond is blockchain-based, it’s unlike some of the firm’s other recent launches such as Solana Mobile — it doesn’t put crypto front and center. 

Solana Labs described it as  “a seamless user experience where customers won’t even realize it’s Web3.” Solana promises Brands won’t be required to have any blockchain experience either since the service will be accessible through a single application programming interface, it said.

The platform leverages the Solana (SOL) blockchain to provide collectible “digital twins” and limited-edition digital products that go along with their real-world products, which Solana said can “encourage repeat engagement and increase overall customer value.”

Solana Labs portrays digital twins as an augmented reality experience. Source: Bond

Digital identity for products can also allow customers to verify a product’s authenticity, while brands can also track their products even if they’re eventually resold or given away.

Solana Labs says the platform adds another bonus: Attracting a “new generation of customers” — including the “vibrant community” of the Solana blockchain with all its "Millennial and Gen Z purchasing power."

Solana has a growing number of use cases

The Solana network hosts such popular memecoins as Dogwifhat (WIF), Bonk (BONK), Popcat (POPCAT) and Myro (MYRO).

It has also seen a boost in institutional interest since PayPal launched its PayPal USD(PYUSD) stablecoin on the network, increasing the cost efficiency of small purchases with PYUSD.

It plans to introduce the full-scale version of its Firedancer upgrade in 2025 to take advantage of the growth of Decentralized Physical Infrastructure Networks (DePINs).

Related: CNBC Fast Money trader says Solana ETFs ’probably’ next, sparking debate

Blockchain-based customer loyalty programs are not a new idea. The Open Loyalty marketing software-as-a-service firm, for example, has a blockchain based on Hyperledger Fabric.

It appears that at least seven organizations use Open Loyalty wallets, though its GitHub page shows limited signs of activity.

Magazine: 5 dangers to beware when apeing into Solana memecoins

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

SEC pushes deadline on VanEck spot Ether ETF application

SEC pushes deadline on VanEck spot Ether ETF application

25cc9d4a˃The United States Securities and Exchange Commission (SEC) has postponed a potential decisi...

Ethena Labs adds Bitcoin backing to its USDe synthetic dollar

Ethena Labs adds Bitcoin backing to its USDe synthetic dollar

92485d12˃Ethena Labs, the team behind the USDe, has added Bitcoin (BTC) as collateral to its synthet...

AI needs a killer app to prove it’s not a bubble — Goldman Sachs, MIT

55966e89˃Analysts from Goldman Sachs and MIT recently took a deep dive into the generative artificia...

Bitcoin tumbles under $39,000 triggering $115M liquidation in 1 hour

Bitcoin tumbles under $39,000 triggering $115M liquidation in 1 hour

Bitcoin’s (BTC) dip below the $39,000 mark resulted in significant liquidations totaling approximate...

Kenya to extradite Binance executive involved in tax evasion and escape drama to Nigeria

Kenyan authorities are gearing up to extradite Nadeem Anjarwalla, a Binance executive sought by the...

Coinbase expects spot Bitcoin ETFs to unlock new era of crypto investment options

According to its monthly outlook report, Coinbase predicts that the approval of a spot Bitcoin (BTC)...