Web2 Enters Web3. Confused? Read On…

TL;DR

• Salesforce has just launched a platform allowing big brands to create custom NFT loyalty programs.

• They’ve already onboarded whisky brand Crown Royal, clothing brand Scotch & Soda, and toy brand Mattel to their platform.

• The pilot program that has already racked up 257,000 transactions.

• The more success each brand finds, the more others are going to want to follow suit.

Full Story

Look, if you’re still here with us in depths of the bear market, you probably don’t need any convincing that Web3 is here to stay…

But if you did (or ever needed to in the future) – just look at what the big players in Web2 are doing in the space.

Like, for example:

Salesforce, which has just launched a platform allowing big brands to create custom NFT loyalty programs.

Now, if centralized Web2 behemoths moving into the space gets your hackles up – we hear you and we see you!

That said…

It’s tools like this, that are going to bring about the mass-adoption of Web3 technology.

Tools that take things we’re already used to (loyalty programs), and make them better, for customers and brands alike.

Let’s dig in to it…

Here’s what we know to expect from Web2 loyalty programs:

→ We buy enough stuff from the brands we like
→ We get discounts and benefits in return
→ The more value a brand attaches to that loyalty card
→ The higher the likelihood we return

Here’s what we can expect from Web3 loyalty programs:

→ We buy enough stuff from the brands we like
→ We get NFTs that grant us get discounts and benefits in return
→ The more value a brand attaches to that NFT
→ The higher the likelihood we return

*PLUS!*

→ Customers have the option to capitalize on that accrued value, by selling the NFT on the secondary market
→ If that happens, the customer takes the lion’s share of the profits
→ While brands collect a royalty fee (making their money in chunks, as more and more of their NFTs are traded).

And we’re already seeing this new loyalty model being proven:

Starbucks customers are happily trading the collectibles they’ve earned on the Starbucks Odyssey app.

(With one customer selling their ‘holiday cheer’ collectible for ~$2,000).

As for Salesforce?

They’ve already onboarded whisky brand Crown Royal, clothing brand Scotch & Soda, and toy brand Mattel to their platform, in a pilot program that has already racked up 257,000 transactions.

And the more success each brand finds, the more others are going to want to follow suit.

We love to see it.