Solana: New Customer Loyalty Platform Aims to Onboard Mainstream Brands

Solana: New Customer Loyalty Platform Aims to Onboard Mainstream Brands

Solana Labs, the company behind the Solana blockchain, is making a play to attract non-crypto businesses with its new platform, Bond. Launched on June 12th, Bond is a blockchain-based customer engagement tool designed to improve loyalty programs.

Seamless Onboarding for Traditional Brands

Unlike other blockchain projects, Bond prioritizes a smooth user experience. Brands won’t need any prior crypto knowledge and customers won’t even realize they’re interacting with Web3. A single application programming interface (API) makes integrating Bond into existing systems simple.

Revolutionizing Loyalty Programs

Bond creates “digital twins” of physical products, offering new engagement opportunities and limited-edition digital products to enhance customer value. Blockchain technology allows brands to track products throughout their lifecycle, even after resale, and customers can verify product authenticity.

Solana Labs believes Bond can attract a “new generation of customers,” including crypto-savvy millennials and Gen Z.

Solana’s Growing Ecosystem

The Solana network supports a variety of use cases, including established memecoins like Dogwifhat (WIF) and Bonk (BONK). The launch of PayPal’s USD (PYUSD) stablecoin on Solana has boosted institutional interest in the network’s cost-effective micropayments. Solana’s upcoming Firedancer upgrade in 2025 aims to capitalize on the growth of Decentralized Physical Infrastructure Networks (DePINs).

Competition in Blockchain Loyalty

Bond isn’t the first blockchain-based loyalty program, but its focus on mainstream adoption sets it apart. Open Loyalty, built on Hyperledger Fabric, has seen limited adoption so far.

Solana Price Prediction

Increased daily active addresses and celebrity endorsements like Iggy Azalea fuel optimism for SOL’s future price performance. Analyst Ali predicts a 53% upswing for Solana (SOL) based on an ascending triangle pattern on the price chart.

  • Support and Resistance Levels: $143 is a crucial support level, while a breakout above $178 could trigger a significant rally.
  • Analyst Sees Consolidation Phase: Another analyst suggests a period of consolidation between $185 and $120 before a potential future surge.

 

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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