[Solana Labs launches customer loyalty platform]
Solana Labs, the company that originally developed Solana, has launched a technology stack and "white glove service" called Bond designed for businesses looking to launch customer loyalty programs on the blockchain.
Bond is Solana Labs’ third product, following GameShift and Solana Mobile. GameShift helps game developers create Web3 games, while Solana Mobile offers Solana-integrated phones and is now taking pre-orders for its second-generation phone.
Bond’s website highlights digital collectibles and “product passports” as blockchain features of the service, and points to the potential of leveraging Solana’s community to attract Millennial and Gen Z consumers.
A press release from Solana Labs emphasized that the Bond service is designed to build direct relationships with consumers and analyze the customer base while protecting privacy. Overall, Solana Labs positions Bond as a blockchain-based Software as a Service (SaaS) rather than a fully encrypted local product. The press release barely mentions the word "token," adding that customers using Bond won't even realize it's Web3 technology.
Other companies have tried to apply blockchain technology to customer loyalty programs. Back in 2018, Singapore Airlines put frequent flyer miles on the blockchain. Earlier this year, Visa also announced a Web3 customer loyalty platform. However, not all of these experiments have been successful, such as Starbucks recently ending its Odyssey NFT-themed loyalty platform that had been running for a year and a half.
Nonetheless, Solana Labs believes there is still a future for blockchain-based loyalty programs. "We noticed a gap in the loyalty space, specifically in relationship-based loyalty, which has a longer payback cycle than traditional loyalty programs," a Solana Labs spokesperson said.
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