Collaboration Between Avalanche and Quboid to Revolutionize Loyalty Schemes
In a groundbreaking move, Avalanche, a leading smart contract platform, and Quboid, a blockchain-based loyalty and customer engagement platform, have announced a collaboration aimed at transforming traditional loyalty programs into scalable, secure, interoperable, and engaging decentralized ecosystems.
The partnership seeks to unify loyalty assets under a more liquid, interoperable, and tokenized framework, equipping brands with blockchain-powered loyalty solutions for improved engagement strategies. QChain, Quboid's network, has been upgraded to an Avalanche layer-1 blockchain, enabling partner brands to operate their own network nodes.
One of the key benefits of this collaboration is the ability for brands to gain real-time, transparent consumer data, enabling them to create more effective, data-driven engagement strategies. Brands can also run their own dedicated blockchain nodes, ensuring sensitive loyalty information is secured and controlled internally, enhancing data ownership and security.
The high scalability and low cost of Avalanche's infrastructure support scaling loyalty programs globally without excessive operational expenses. Tokenization of loyalty points reduces brands' liabilities and operational costs, while cross-brand interoperability allows customers to redeem and swap rewards across multiple participating brands, fostering a collaborative loyalty ecosystem.
Enhanced consumer experience is another significant advantage, as customers earn and use tokens not just for rewards but also for perks, yield generation, and payments, creating a more engaging two-way value exchange. The decentralized nature of blockchain builds trust between brands and consumers, as all transactions and rewards are verifiable and tamper-proof, increasing transparency and trust.
Devika Mittal, Ava Labs' Regional Head, stated that the collaboration aligns with the company's commitment to building trust and transparency within the marketing and customer engagement space. Quboid's Founder and CEO, Prakhar Sharma, has outlined a mission to make loyalty systems more intelligent, decentralized, and rewarding.
Notable names such as Emami, K Hotels, Japan Open Chain, Tanukiverse, Nayaab World, and College Brand Connect are already participants in Quboid's platform. The partnership is expected to redefine how brands and customers interact in the loyalty economy, making rewards programs more engaging, transparent, interoperable, and profitable for all stakeholders.
The partners believe this model will foster collaboration among brands and drive higher customer engagement. The partnership is expected to address the gap in the loyalty economy, where loyalty points often lack liquidity, transparency, and standardization, despite representing over $500 billion in value and growing annually.
This upgrade allows brands to earn token rewards for participation, creating a two-way value exchange. The partnership aims to enhance scalability, security, and decentralization in enterprise loyalty programs, transforming them from being siloed cost centers into community-driven profit models.
In conclusion, the partnership between Avalanche and Quboid is set to revolutionize the loyalty economy, offering a more efficient and beneficial solution for all parties involved. The new era of rewards programs promises to be more engaging, transparent, interoperable, and profitable, fostering collaboration among brands and driving higher customer engagement.
- This collaboration between Avalanche and Quboid in the business realm is aimed at transforming traditional loyalty programs into scalable, secure, interoperable, and engaging decentralized ecosystems using technology, thereby creating a more efficient and beneficial solution for all parties involved.
- Brands participating in Quboid's platform can benefit from running their own dedicated blockchain nodes, ensuring sensitive loyalty information is secured and controlled internally on the Avalanche layer-1 blockchain, which supports high scalability and low cost, leading to improved engagement strategies and enhanced data ownership and security.
