The partnership between Avalanche and Quboid opens new horizons in loyalty programs by offering brands effective blockchain-based solutions.
Innovations in Loyalty Programs
The partnership between Avalanche and Quboid leverages Avalanche’s high-speed, low-cost infrastructure to provide secure and scalable loyalty programs. Brands can build their own blockchain nodes to manage their loyalty systems, ensuring complete control over customer data and creating new opportunities for cross-brand reward exchanges.
Potential of Loyalty Point Tokenization
Industry research highlights the significant potential of tokenizing loyalty points, with a global market value exceeding $500 billion and $15.6 billion added annually. Despite their scale, loyalty points often remain locked in isolated systems, and implementing a blockchain ecosystem could address liquidity and transparency challenges.
Founders' and Experts' Opinions
Quboid’s Founder and CEO, Prakhar Sharma, emphasized that the goal is to transform loyalty programs from isolated cost centers into community-driven profit centers. Devika Mittal, Regional Head at Ava Labs, noted the crucial role of loyal customers in any for-profit business.
The collaboration between Avalanche and Quboid marks a significant milestone in the evolution of loyalty programs, opening up new opportunities for both brands and consumers. This partnership has the potential to fundamentally change how brands interact with their customers.
