Visa has partnered with SmartMedia Technologies to introduce a new Web3 loyalty rewards program. The aim is to engage users by offering them digital and physical experiences through loyalty rewards. The global payments giant wants to make the exchange between brands and consumers more engaging by providing new and exciting experiences. The Visa Web3 Loyalty Engagement Solution allows customers to collect tokenized tickets, loyalty coins, and digital collectibles, among other benefits offered by brands. These rewards can then be used for both virtual and physical experiences. The program enables brands to reward customers not only for their transactions but also for their active engagement and interactions with the brand. This initiative signifies a new era of rewards that go beyond traditional purchases and loyalty.
Visa collaborated with SmartMedia Technologies to create a corporate platform that connects Web2 and Web3, enabling brands to personalize rewards for their customers. Through the Visa Web3 Loyalty Engagement Solution, brands can provide a digital wallet where customers can access rewards for various experiences in sectors like travel and sports. Tyler Moebius, CEO of SmartMedia Technologies, expressed excitement about revolutionizing the future of loyalty and engagement in collaboration with Visa. This partnership aims to redefine the exchange of value between brands and consumers in a mobile payment-centric world.
The growth of blockchain gaming (GameFi) in the Web3 world has been significant. Despite not yet reaching the levels of traditional gaming, the blockchain gaming market was valued at over $4.8 billion in 2022, with an expected CAGR of 68.3% from 2023 to 2030. CoinGecko reports that over 800,000 people play Web3 games daily. While this number is smaller compared to traditional games like Minecraft, which has over 11.9 million players per day, blockchain gaming is rapidly expanding. There are different types of participants in blockchain games, including yield farmers, degenerate traders, institutional investors, bots, and actual players, creating a dynamic and evolving ecosystem.
Hot Take: Visa Partners with SmartMedia Technologies to Offer Web3 Loyalty Rewards
Visa’s partnership with SmartMedia Technologies to introduce Web3 loyalty rewards is a significant move in the world of digital payments. By providing users with unique digital and physical experiences through loyalty rewards, Visa aims to make the brand-consumer exchange more engaging. This initiative aligns with the growing popularity of blockchain gaming and the desire for personalized rewards beyond traditional purchases. With the Visa Web3 Loyalty Engagement Solution, brands can connect with customers on a deeper level by offering rewards that enhance their overall experience. This collaboration between Visa and SmartMedia Technologies not only enhances customer rewards but also redefines the value exchange between brands and consumers in today’s mobile payment-centric world.
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