A niche startup that was running a web2 based product for small merchants/retailers to provide customer loyalty/rewards services approached us with the aim making this process more open , verifiable, trustworthy and cost effective
Our Solution
We devised the concept of tokenizing the loyalty points awarded by the merchants/retailers via non fugible and fungible tokens that were minted on Solana Blockchain, we also provided a decentralized exchange where these tokens could be traded by both customers/traders . This solution didnt only lowered down the costs compared to their existing infra but also drove speedy adoption due to the openness and verifiable tradabilty of the loyalty points
Result
Over a 100 small and medium retail chains have adopted the product and have an effective way to retain customers