Image credit: Grab
Grab has introduced a new Web3 feature that lets users get NFT vouchers for popular restaurants and services in Singapore.
Once the vouchers are used, holders will automatically receive digital collectibles in their Grab Web3 wallet. The collectibles, which depict well-known landmarks in the country, can be used to receive more rewards.
This feature was created in partnership with the Monetary Authority of Singapore.
A spokesperson for Grab told Tech in Asia the feature is a “short pilot” the company is running just in Singapore, coinciding with the upcoming F1 Singapore Grand Prix. The pilot is expected to run until the end of the year.
Nonetheless, Grab has added a Web3 button to its app. Pressing it for the first time will direct users to create a crypto wallet, which is hosted on blockchain network Polygon.
The wallet appears to only be able to store certain vouchers and collectibles at the moment.
See also: Grab logs standout quarter as deliveries growth rebounds, touts revenue potential of ads
The NFT vouchers can be bought on cashback app Fave. They can then be used at the upcoming F1 Singapore Grand Prix as well as in eligible merchants around the city such as the Mint Museum of Toys and Jumbo Seafood restaurants.
This is similar to the pilot that Grab conducted in October last year with stablecoin issuer StraitsX.
Editing by Lorenzo Kyle Subido
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