Shopify Experiments with New Features in the Web3 Field
Co:Create, a pioneer in the Web3 space, is set to revolutionize customer loyalty programs by launching the “Web3 Rewards Tool” application on the Shopify e-commerce platform. With this innovative application, more than 4 million merchants and online shops will be able to harness the power of blockchain technology to develop digital token rewards and engage their customers in exciting new ways.
Shopify, a well-known e-commerce giant serving 2.1 million customers daily, made a breakthrough by integrating the Co:Create Web3 app into its platform. Co:Create, known for its flexible API-based community activation solutions, recently launched the “Web3 Rewards Tool” application. This app empowers Shopify merchants by enabling them to tap into the huge potential of blockchain technology. With a dynamic set of rewards based on cryptocurrencies, token access rights, and loyalty features customers, brands and online stores can now leverage gaming communities and personalized experiences to increase customer acquisition and explore the limitless opportunities offered by the blockchain world.
Leading ecommerce brands, including Allbirds, Asphalte, Taylor Stitch, Elder Statesman, and Gymshark, are eagerly embracing the Co:Create Web3 app. By adopting loyalty programs based on cryptocurrency, these brands are venturing into direct customer engagement and reaping the benefits of this exciting new landscape. Co:Create has selected the Polygon chain, Ethereum’s layer 2 network, as the flagship infrastructure for this project. The integration of digital token rewards and NFT collections, such as Bored Ape Yacht Club and CryptoPunks, will further enhance loyalty programs, ensuring unrivaled opportunities for brands and their customers.
Shopify’s foray into Web3 comes as no surprise, given the growing demand for loyalty programs and blockchain technology. Notably, the company has previously partnered with Crypto.com for cryptocurrency payments and incentive programs. Additionally, other industry players, such as TYB, have also launched Web3 applications on Shopify, demonstrating the platform’s commitment to embracing new technologies and fostering online communities. Starbucks and Nike are among the big brands that have successfully implemented crypto-fidelity programs, attracting a wide audience and generating substantial revenue. With NFTs being a driving force in customer acquisition and brand loyalty, companies are leveraging their unique offerings to unlock additional revenue streams.
The advent of Web3 has spurred companies such as Dolce&Gabbana, Tiffany, Gucci, Adidas, and Time Magazine to explore the world of NFTs and blockchain technology. These brands have experienced significant financial gain through selling NFT collections tailored to their target audience. The allure of scarcity and uniqueness attached to NFTs has proven to be a powerful tool for customer acquisition and retention. Additionally, the royalty structure associated with the sale of NFTs on the secondary market allows brands to generate ongoing revenue, effectively turning them into “artists”. As big brands continue to embrace Web3, the world of e-commerce is witnessing a paradigm shift that is taking customer engagement to new heights.
The launch of the “Web3 Rewards Tool” app by Co:Create at Shopify marks an important milestone in the evolution of customer loyalty programs. With the power of blockchain and NFTs, online brands and shops can forge meaningful relationships with their customers, create engaging experiences and unlock the true potential of community-based gifts. As Web3 gains momentum, it’s clear that forward-thinking brands will continue to embrace these new frontiers to revolutionize customer engagement and increase their bottom line.
