Solana Labs has introduced Bond, a new platform designed to help non-crypto brands utilize blockchain technology for customer engagement.
Solana Labs, the company behind the Solana layer-1 blockchain, is aiming to bring more non-crypto native brands and their customers into the Web3 space, often without their awareness. On June 12, the company officially launched Bond, a blockchain-based customer engagement platform intended to enhance brand loyalty.
The platform aims to address significant limitations in current loyalty programs, such as losing connection with end customers when a product is resold or gifted. Unlike Solana’s other projects, like Solana Mobile, Bond doesn’t emphasize cryptocurrency. Instead, it offers a seamless user experience where customers won’t even realize they’re using Web3 technology. Brands don’t need blockchain expertise to use Bond, as it’s accessible through a single application programming interface (API).
Bond uses the Solana blockchain to provide collectible “digital twins” and limited-edition digital products that accompany real-world items, encouraging repeat engagement and increasing customer value. These digital identities also allow customers to verify product authenticity and enable brands to track their products, even when resold or gifted.
Solana Labs believes Bond will attract a new generation of customers, leveraging the purchasing power of Millennials and Gen Z within the Solana blockchain community. The Solana network, known for hosting popular memecoins and seeing increased institutional interest due to PayPal’s launch of its stablecoin PYUSD on the network, continues to expand its use cases. The upcoming Firedancer upgrade in 2025 aims to capitalize on the growth of Decentralized Physical Infrastructure Networks (DePINs).
Blockchain-based customer loyalty programs are not entirely new. For instance, Open Loyalty, a marketing software-as-a-service firm, uses a blockchain based on Hyperledger Fabric, with at least seven organizations utilizing its wallets, though its GitHub activity appears limited.
Source: cointelegraph.com
