In an intriguing turn of events, Web3 infrastructure firm Co:Create is making waves in the e-commerce arena with the launch of an application on Shopify. The aim? To enable millions of enterprises to deploy blockchain-powered loyalty and rewards programs. Quite revolutionary, isn’t it?
At the heart of Create’s application is Ethereum sidechain Polygon, fuelling an innovative collaborative effort. It propels brands towards crafting deeper, more meaningful relationships with consumers, leveraging non-fungible tokens (NFTs) and the thrilling world of gamified experiences. This doesn’t stop at generic tokens, however, because brands have the versatility to unveil token-gated products featuring their custom NFT collections and existing projects such as Bored Ape Yacht Club or CryptoPunks.
As Co:Create CEO, Tara Fung, explained, commerce is instrumental in the cultivation of brand-centric communities, and the technology of Web3 provides an unrivalled framework for merchants to endow loyal customers with digital ownership rights. Still, while the insertion of Web3 features certainly comes with the allure of novelty, it seems to complement the ethos of emerging brands more elegantly than established brands, as the former can use it to amplify their connection with their audience, rather than as a mere marketing gimmick.
With Create’s application attracting attention, it’s worth noting that it’s not entirely sleek and uncharted territory for blockchain and NFT collaborations in e-commerce. Earlier in March, Avalanche’s engagement platform Try Your Best (TYB) introduced its application to Shopify’s app store, thus allowing brands to imbue their digital storefronts with NFT-based customer loyalty schemes.
Even as enticing as this integration is, there’s more to Co:Create than meets the eye. Beyond purely commercial engagement, the firm shows strong inclination towards fostering proximity between fans and the brands or individuals they admire. Case in point: their recent partnership with ticketing app EVNTZ to issue blockchain-based rewards to concertgoers at pop superstar Harry Styles’ gig in Ireland.
While questions linger about the true impact of these innovations on consumer engagement and behaviour, it’s undeniable that blockchain and Web3 infrastructures have launched an era of exciting trajectories in the retail universe. This fusion of rewarded loyalty and digital currencies ushers in not just a new chapter, but a whole new saga of brand engagement, customer connectivity, and digital ownership.
Source: Coindesk
