Solana Labs blockchain customer loyalty platform Bond launched
Solana Labs, the company behind the Layer-1 blockchain Solana, may soon bring many more non-crypto native brands and their customers to the Web3 without many of them knowing.
In the year On June 12, the company officially launched Bond, its new blockchain-based customer engagement platform to help brands “build long-term loyalty.”
Solana Labs says the new platform solves a “critical limitation” in today's loyalty programs, which is losing the connection with the original customer if a product is resold or gifted.
While Bond is blockchain-based, it's unlike the company's other recent startups like Solana Mobile — it doesn't put crypto front and center.
Solana Labs describes it as “a seamless user experience where customers won't even know it's Web3.” Solana promises that brands will not need to have any blockchain experience because the service will be accessible through a single application programming interface, he said.
The platform uses the Solana (SOL) blockchain to provide collectible “digital twins” and limited digital products that go hand-in-hand with their real-world products, which Solana says can “encourage repeat engagement and increase overall customer value.”
Digital identification for products can allow customers to verify product authenticity, and brands can track their products whether they are eventually resold or given away.
Solana Labs says the platform will add another bonus: attracting a “new generation of customers” — including the Solana blockchain “enlightened community” of “millennials and Gen Z with the purchasing power.”
Solana has a growing number of use cases
The Solana network hosts popular memecoins such as Dogwifhat (WIF), Bonk (BONK), Popcat (POPCAT) and Miro (MYRO).
Additionally, PayPal has seen an increase in institutional interest since launching the PayPal USD(PYUSD) stablecoin on its network, which will increase the cost of small purchases made in PYUSD.
It plans to introduce the Firedancer update full-scale in 2025 to take advantage of the development of Decentralized Physical Infrastructures (DePINs).
Related: CNBC's Fast Money Trader Says Solana ETF Next ‘Maybe', Sparks Debate
Blockchain-based customer loyalty programs are not a new idea. An open-trust transaction software-as-a-service organization, for example, has a blockchain based on Hyperledger Fabric.
Although the GitHub page shows signs of limited activity, at least seven organizations appear to be using Open Loyalty Wallets.
Magazine: 5 risks to be aware of when entering Solana memecoins
