Visa Introduces Web3 Loyalty Program, BLOCKv Surges 491%
BLOCKv has experienced a significant surge in its price, rising by 491% following Visa’s announcement of a web3 loyalty engagement solution. Visa partnered with SmartMedia Technologies, the owner of the SmartNFT Protocol, to modernize traditional loyalty programs and offer immersive experiences to consumers.
The collaboration aims to redefine the value exchange between brands and consumers in a mobile payments-first world. Tyler Moebius, CEO of SmartMedia Technologies, stated that they are committed to delivering rewarding and engaging experiences for today’s evolving consumers.
SmartMedia Technologies utilizes the blockchain-agnostic SmartNFT protocol developed by BLOCKv, the company it acquired.
BLOCKv Price Surge
Following the announcement, BLOCKv (VEE) experienced a price surge. According to CoinGecko data, VEE rose to $0.01519 with a 24-hour trading volume of $4.7 million. This represents a 491.4% increase over the last 24 hours and a significant 397% increase over the past seven days.
With a circulating supply of 3.3 billion VEE, BLOCKv currently holds a market capitalization of over $49 million.
Hot Take: The Future of Loyalty Programs
The partnership between Visa and SmartMedia Technologies signifies the potential future direction of loyalty programs. By incorporating web3 technology and immersive experiences, brands can create more engaging and rewarding interactions with their customers.
This collaboration highlights the importance of leveraging blockchain technology to enhance traditional systems and deliver innovative solutions that meet the evolving needs of consumers in a mobile-centric world.
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