Consumer loyalty is the one thing brands fight for regardless of industry, target audience, or location – and with good reason. Studies show that 56% of customers are ready to pay more even when cheaper options are available, and 77% have stayed with their favorite brands for over 10 years.
Despite a clear link between consumer loyalty and profit, the state of traditional loyalty programs is far from ideal. Centralized management, expiration dates, and inability to transfer or sell rewards to interested users are just a few of the problems experienced by loyalty holders of today. To add to that, being part of a brand’s loyalty program today, requires users to track rewards via individual websites or applications.
The idea of adding blockchain to a centralized loyalty program is not new but MetaFlyers, a rising blockchain-based loyalty ecosystem, has everything in the making to disrupt the decentralized rewards world with their one-stop platform for brands and consumers (NFT project holders).
How MetaFlyers revolutionizes the idea of loyalty programs
MetaFlyers tackles the most important issue with loyalty programs of today: ownership. After earning the rewards, the users can own, gift, redeem or sell them to others with little to no limitations. To claim the rewards, members have to hold $FEWL – a utility-based token that fuels the MetaFlyers platform. The only way to get $FEWL at the moment is by minting an NFT from the MetaFlyers’ collection.
The MetaFlyers marketplace doesn’t only benefit the consumers. It is the first-of-its-kind loyalty infrastructure for the Metaverse that leverages NFT technology and provides value for consumer brands, NFT project founders, and retail users all at once. By allowing brands to offer consumers (NFT project holders) unique offers on the MetaFlyers platform, Web2 businesses instantly gain access to blockchain users with high purchasing power and can save costs on managing customer rewards themselves. At the same time, NFT project founders no longer have to depend on secondary drops to provide returns to investors. By leveraging the real-world value mechanics of consumer brand partnerships, they can keep community engagement at an all time high.
The MetaFlyers team is most certainly something worth mentioning: the three founders bring a unique mix of experience in software & product development, loyalty management, finance, design & content creation, and extensive knowledge in the Web3 space.. The project has been created by Jeff Sherwoord (ex-Rakuten & LuxuryCard), Sam Snyder (ex-ESPN & Disney),and Doug Lorenzen (ex-partner at Moore Venture Partners).
What does the future hold for MetaFlyers?
The MetaFlyers NFT mint will take place on December 20th, with ambitious plans ahead: a marketplace beta to go live in early Q2, will include a white-labeling solution for brands to independently provide offerings to their consumers direct.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
