Solana Labs Unveils Bond: A Blockchain-Based Platform Revolutionizing Brand Loyalty
Summary:
Solana Labs has officially launched Bond, a blockchain-based customer engagement platform designed to foster long-term brand loyalty. The platform aims to address limitations in current loyalty programs and introduces a frictionless user experience. Bond leverages the Solana blockchain to offer collectible digital merchandise alongside physical products, validates product authenticity, and helps brands track their products, even after reselling or gifting. Solana ensures ease-of-use for non-crypto native brands through a single application programming interface. The platform is reported as an avenue to attract Millennial and Gen Z customers and boost overall customer value.
Solana Labs, the entity behind blockchain Solana, is poised to usher a vast range of non-crypto brands and their consumers into the realm of Web3, often without their explicit awareness. As of June 12, the business has formally unveiled Bond, a fresh blockchain-dependent customer engagement tool geared towards fostering enduring customer loyalty. Solana Labs believes that this novel platform can tackle vital constraints found in current loyalty schemes, particularly, the risk of losing touch with customers if a product is sold again or given as a gift.
Even though Bond is constructed on blockchain, it doesn't put crypto at the forefront like Solana Mobile and the Lab's other launches. Solana Labs coined it as a frictionless user encounter where users won't even realize they're interacting with Web3. Solana assures that brands wouldn't need any prior blockchain knowledge to use the service due to its availability through a single application programming interface.
Utilizing the Solana (SOL) blockchain, the platform offers collectable "digital twins" and exclusive digital merchandise which go hand in hand with their tangible counterparts, motivating repeated interactions and amplifying overall customer value, according to Solana. The company pictures digital twins as an augmented reality experience.
The digital identification feature permits customers to ascertain the authenticity of products while also enabling brands to keep tabs on their goods, even if they're resold or given away. Solana Labs argues that this platform also carries another advantage - drawing a "new breed of customers," which includes the active Solana blockchain community with its potent Millennial and Gen Z buying power.
The Solana network supports popular memecoins such as Dogwifhat (WIF), Bonk (BONK), Popcat (POPCAT) and Myro (MYRO), and it has gained increased institutional attention since PayPal launched its PayPal USD(PYUSD) stablecoin on the platform, optimizing cost efficiency for small PYUSD purchases. The company is set to launch the full-scale variation of its Firedancer upgrade in 2025 to capitalize on Decentralized Physical Infrastructure Networks (DePINs) growth.
Such blockchain-reliant customer loyalty programmes are not novel. Open Loyalty, a marketing software-as-a-service firm, operates a blockchain rooted in Hyperledger Fabric. About seven firms employ Open Loyalty wallets; however, its GitHub page reveals minimal indications of activity.
Published At
6/14/2024 2:31:56 AM
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