• US-based drink retailer Boba Guys taps Solana for loyalty rewards program
• The program will utilize Solana’s high-speed, low-cost network to integrate non-fungible tokens (NFTs) and token-gated experiences
• Other retailers have also embraced Web3 loyalty programs to deepen customer relations
Boba Guys Taps Solana for Loyalty Rewards Program
US-based drink retailer Boba Guys has tapped the blockchain platform Solana for its loyalty rewards program. The popular tea retail chain opened in 2011 and is seeking to further deepen its community and give back to its customers through its Web3 rewards initiative. The initiative will utilise Solana’s high-speed, low-cost network to integrate non-fungible tokens (NFTs) and token-gated experiences to help boost consumer engagement.
Solana Foundation Invests $100,000 into Boba Guys
The choice of Solana comes after the Solana Foundation invested $100,000 into Boba Guys. The co-founder of Boba Guys, Bin Chen, in an interview with a popular media outlet said: “People that come into our stores may not know a single thing about Web3, Solana, blockchain, or any of those things… We have that same approach with how we’re doing Web3.”
Saga Device Makes it Easy & Secure To Self Custody Digital Assets
Solana recently unveiled the flagship security conscious crypto first Android device Saga. Saga makes it easy and secure to self custody digital assets and removes the friction associated with digital assets. It also features a Seed Vault which makes it a hardware wallet. It is now available to customers who pre ordered and will be available starting on May 8 for new orders.
Other Retailers Embrace Web3 Loyalty Programs
Boba Guys is not the first retailer to embrace Web3 loyalty programs to deepen customer relations. In December 2022, luxury fashion house Balenciaga announced their introduction of a blockchain powered NFT marketplace using Ethereum technology as part of their ‘Balenciaga World Wide Network’ project; while UK based sports giant Adidas launched an Ethereum powered reward system called ‘Adidas Sports Token’ which incentivizes shoppers by offering them exclusive discounts on products when they make purchases using specific cryptocurrencies like Bitcoin or Etherium.
This collaboration between Boba Guys and Solana shows how loyalty programs can be improved for both customers and retailers creating a path for other organizations to follow in their footsteps as more companies turn towards web 3 solutions for customer retention..