Alipay Teams Up with Avalanche to Launch Web3-Based Voucher Program in Southeast Asia
Summary:
Alipay has partnered with the blockchain platform Avalanche to launch a Web3-based voucher program in Southeast Asian milk tea stores. Shoppers can win vouchers via a mini-game, which can be redeemed via their e-wallets for discounts of up to 50% in over 500 tea shops. Avalanche believes this innovative system will allow Alipay to explore the potential of Web3 technology, possibly leading to collaborations with other brands and wider application in additional stores in the future.
In a significant development, online payment giant Alipay has joined hands with smart contract blockchain platform Avalanche to develop a voucher scheme based on the innovative Web3 technology. Avalanche made the public announcement on March 20, stating that Alipay’s ordering system, Alipay+ D-store, in conjunction with its affiliate e-wallets, would utilize the Avalanche network for executing a Web3-integrated voucher program. This novel program was initially launched in a collection of milk tea stores across Southeast Asia, offering customers the chance to win vouchers through participation in a mini-game. On successful completion of the game, customers can then redeem their voucher in their e-wallet.
Avalanche elaborated on the functionality of these vouchers, stating that they provide customers the opportunity to avail up to a 50% discount at more than 500 milk tea outlets. The vouchers are built around an Avalanche Subnet, which is maintained and supervised by their blockchain service AvaCloud. In Avalanche’s view, the voucher scheme will enable notable brands like Alipay to explore the potential of Web3 technology-powered solutions.
The company expressed: “The POC will enable brands like Alipay+ D-store to experiment with Web3 applications, offering insights into how they could enhance merchant-customer engagement, aid customer retention, and create fresh revenue streams.”
Moreover, Avalanche expressed the belief that this project could open up new avenues for Alipay to partner with other brands for the deployment of blockchain-enabled features and digital collectibles. The company emphasized that this program is still in the initial stages of its proof-of-concept (POC). The plan is to extend the program to a wider network of more than 2,000 outlets and bring in 100 million users.
Avalanche notably has been steadily expanding its ecosystem in 2024, tying up with high-profile brands. It formed a partnership with SI Tickets, the ticketing division of Sports Illustrated, on February 20. This collaboration allowed Avalanche to provide a platform for SI Ticket’s nonfungible token (NFT) ticketing system, Box Office. As a result, the NFT tickets have now become minted on the Avalanche network. The proof-of-stake (PoS) blockchain is also venturing into the gaming industry. On March 11, Avalanche disclosed plans to incorporate the popular MMO role-playing game MapleStory into an Avalanche subnet, thereby providing content creation opportunities to players.
Published At
3/20/2024 2:49:09 PM
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