MoonPay to Offer ‘Soulbound’ NFT Loyalty Program

By leveraging this program, the firm will additionally try to develop white glove aid for people who need assistance in purchasing NFTs.

Since Non-Fungible Tokens are on a roll in the blockchain space these days, many companies can be seen jumping on the NFT bandwagon and offering virtual collectibles as products. Crypto payments infrastructure company MoonPay is offering “soulbound” NFT loyalty program for its customers.

Soulbound assets are non-transferable tokens depicting an individual’s identity using blockchain technology.

Also called a Web3 Passport, the token will offer its owner admission to premiere events. The company has planned to launch it at Art Basel in Miami. The advantages of this program would be associated with ticketing for fashion, art, sports, music, and entertainment, which is presented early the next year.

The firm presently has over 10 million clients, all confirmed clients who can avail of the passport program, with more levels to be added over the next few years.

By leveraging this program, MoonPay will additionally try to develop white glove aid for people who need assistance in purchasing NFT. For the past few months, enterprises have gone to massive extents to streamline themselves with big-named labels making raids into web3. Previously this year, the FinTech firm collaborated with Universal Studios to establish an NFT-based scavenger hunt at its Universal Theme Parks. For the hunt, Park guests were not required to possess any crypto knowledge, or even hold a crypto wallet to claim their NFTs. In June 2022, it also inaugurated Hypermint, a service that allows brands to mint 100 Million virtual tokens simultaneously. Universal Pictures, the US film studio that shadowed Universal Theme Parks was one of Hypermint’s official launch partners.

According to MoonPay Chief Executive Officer, the company is eventually becoming American Express. Not only does the firm offer strong payment networks and platforms, but also experiences and luxuries which sets it apart.

MoonPay claims to have been prosperous since it revealed the platform in 2019. Its services are now utilized by more than 10 Million clients in more than hundred and sixty nations. Early this year, MoonPay added more than sixty celebrity investors to its balance sheet including big names such as Justin Bieber, Gwyneth Paltrow, Snoop Dogg, and Ashton Kutcher. In total, the new investors added more than $87 Million into its initially disclosed $555 Million funding round led by Tiger Global and Coatue, estimating the firm at $3.4 Billion.

In the future, MoonPay has plans to utilize the money to initiate novel products and also on expansion.

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Sanaa Sharma

Sanaa is a chemistry major and a Blockchain enthusiast. As a science student, her research skills enable her to understand the intricacies of Financial Markets. She believes that Blockchain technology has the potential to revolutionize every industry in the world.

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