Salesforce, a leading customer relationship management (CRM) software company, has announced a new partnership with Polygon, a popular layer 2 blockchain platform, to create a non-fungible token (NFT)-based loyalty program.
Polygon’s latest initiative
The partnership will enable Salesforce’s clients to onboard to the top blockchain platform and create token-based loyalty programs using Salesforce’s management platform.
Loyalty programs are proven to be highly effective marketing tools for businesses looking to increase customer retention and engagement.
According to Smile.io, a rewards program provider, repeat customers can generate around 40% of a business’s revenue. With the growing popularity of NFTs and the increasing use of blockchain technology in businesses, the partnership between Polygon and Salesforce will undoubtedly be a significant step forward in creating innovative solutions for customer loyalty programs.
The use of blockchain technology and NFTs in loyalty programs offers various benefits to businesses. With blockchain’s decentralized and immutable nature, customers can be assured of the transparency and fairness of the loyalty program. NFTs offer the potential for personalized rewards and unique customer experiences.
The loyalty program can also enable businesses to source zero-party data, unlock co-creation and co-ownership, and token-gated communities, all of which help drive customer engagement and loyalty.
Salesforce launches web 3.0 service for NFTs
The announcement of the partnership follows Salesforce’s recent launch of its Web 3.0 service, which allows client companies to mint, manage, and sell NFTs on a blockchain platform.
With this service, Salesforce is enabling companies to monitor real-time blockchain data from collections launched on Ethereum and Polygon within their CRM, enabling them to create new ways to interact with their customers and drive engagement.
The partnership between Polygon and Salesforce is not the only recent development in the world of blockchain-based loyalty programs.
BlockFi and Gemini have both announced plans to offer credit cards that offer bitcoin rewards, while Mastercard has supported Uptop, an NFT-based loyalty program, through its startup engagement program.
In recent months, the blockchain company has also partnered with various major companies, including Starbucks, Japan’s Square Enix, and South Korea’s Lotte Group, to establish services on Web3.
Unstoppable Domains and Polygon Labs have also launched .polygon NFT domains for Web3, which allows users in the Polygon ecosystem to create custom Web3 domains with a .polygon suffix.
