Loyalty Marketing, a Japanese company boasting a staggering 100 million users, is poised to usher in the era of Web3 to its vast user base, according to Nick Mussallem, Head of Product at Ava Labs. This strategic move unfolds as the Proof-of-Stake (PoS) blockchain platform, Avalanche, anticipates a substantial surge in transactions, with an estimated 5 million to 10 million transactions occurring on a subnet.
Andrew Fenton at the Korea Blockchain Week 2023 event in Seoul, South Korea, Mussallem elaborated on the partnership between Ava Labs, blockchain services provider PlayThink, and Loyalty Marketing. The primary goal is to seamlessly onboard over 100 million users into the world of Web3. Mussallem disclosed that Loyalty Marketing is gearing up for a remarkable NFT (nonfungible token) program, with expectations of up to 10 million mints. Their ultimate objective is to transition their entire user base into a Web3 system.
Loyalty Marketing’s influence in Japan is colossal, boasting approximately 280,000 partner stores across the country and an impressive 112.6 million users, which translates to nearly 90% of Japan’s entire population.
Mussallem emphasized the two pivotal areas where blockchain technology proves advantageous for Loyalty Marketing. Firstly, it offers a seamless pathway for onboarding merchants, simplifying the process considerably. This contrasts starkly with the complexity of integrating vendors into conventional data systems. Blockchain, particularly when operating on subnets, streamlines this process and enhances interoperability.
Secondly, Mussallem underscored the engagement benefits that blockchain brings to users. Beyond traditional loyalty programs, Web3 introduces novel and captivating elements. Users can take ownership of assets and utilize their loyalty points across a diverse array of stores, injecting an extra layer of excitement and utility into the loyalty experience.
As Loyalty Marketing embarks on this ambitious Web3 journey, it stands as a noteworthy example of how blockchain technology can revolutionize the loyalty rewards industry while offering a compelling and immersive experience for users and merchants alike.
