East Ventures-backed AI firm launches NFT-based loyalty program

Adgorithmics, an ecommerce-focused AI company, has teamed up with blockchain firm Klaytn Foundation to use non-fungible tokens as incentives in a customer loyalty program via the MetaGachas platform.

Photo credit: MetaGacha

MetaGachas is a smart contract that specializes in creating customer loyalty programs. MetaGachas NFTs allow users to claim discounts and membership privileges from partner shops.

Social commerce platform Tapao is the first to join the initiative, which will allow both sellers and buyers to earn NFTs from transactions and exchange them for vouchers to make other purchases.

Each MetaGachas NFT has a different value, encouraging customers to make more transactions and collect more NFTs. While sales agents who are members of Tapao will get an NFT for every purchase, sellers can also use their NFTs to redeem prizes such as smartphones, game consoles, and laptops.

“This unique use case by MetaGachas is a refreshing take on how NFTs can provide clear and practical utility to their owners, as compared to the abstract benefits from common NFT use cases in art and games,” said David Shin, head of global adoption at Klaytn Foundation.

Tapao has registered more than 3,000 people in the early stages of the NFT program’s rollout. The platform is witnessing several thousand purchases through NFTs, Adgorithmics, Klaytn, and MetaGacha said in a joint statement. As of now, holders of NFTs can earn up to a 5% discount on Tapao. That percentage could be higher depending on the tier of NFTs that users hold.

See also: Malaysia bans Dickheads NFT

Founded in 2014, Adgorithmics uses AI to help merchants of online platforms create advertising campaigns on social media. The company counts East Ventures and Mistletoe as its investors. Meanwhile, Klaytn is focused on the metaverse, GameFi, and creator-economy content.