This article has been republished with permission from Binance News.
According to Cointelegraph, Avalanche, a proof-of-stake blockchain platform, is partnering with a Japanese loyalty program company that claims to have 100 million users to bring their large-scale loyalty rewards program onto the blockchain. The partnership involves blockchain services provider PlayThink and Japanese points service provider Loyalty Marketing, with the aim of onboarding over 100 million users into the Web3 space.
Nick Mussallem, Ava Labs’ head of product, stated that Loyalty Marketing is expecting up to 10 million mints for its nonfungible token (NFT) program as it targets onboarding its entire user base into a Web3 system. The company claims to have around 280,000 partner stores across Japan and 112.6 million users, which is almost 90% of the entire population of the country. Mussallem explained that the company is committed to migrating its entire system over to a Web3 system that will run on their subnet.
Mussallem also highlighted two areas where blockchain makes sense for the company: composability for onboarding merchants and engagement for users. He explained that onboarding merchants into the company’s system could be challenging, but with blockchain, it becomes more composable and reduces the overhead associated with onboarding new vendors and adding interoperability. For users, the benefits lie in engagement, including ownership of assets and the ability to spend loyalty points across different types of stores.