Quick take:
- The soulbound token gives its owner access to exclusive events for fashion, art, sports and entertainment.
- MoonPay will also provide white-glove support from its concierge service through this program.
- MoonPay CEO Ivan Soto-Wright likens the company’s services to American Express.
Web3 payment service provider MoonPay is set to launch a soulbound NFT loyalty program, according to a report by The Block.
Soulbound tokens are non-transferable tokens representing a person’s identity, using blockchain technology.
Set to be announced at Art Basel Miami 2022 happening this weekend, the NFT loyalty program is called ‘Web3 Passport’. The soulbound NFTs will grant their owners access to exclusive events and other benefits relating to fashion, art, sports and entertainment, perhaps due in part to its connection with public figures in those sectors. The program will be rolled out early next year.
The company will also provide white-glove support from its concierge service which helps high net-worth individuals and creators to purchase NFTs and crypto. Clients of MoonPay’s concierge service include Jimmy Fallon, Post Malone, Snoop Dogg, Eva Longoria and Madonna.
In March, MoonPay won a bid for a highly coveted World of Women NFT on behalf of a mystery buyer. The mystery buyer of this WoW NFT appears to have used the concierge service – which usually buys NFTs on OpenSea – for the auction at Christie’s.
MoonPay’s connection with celebrities extends beyond NFT purchases. The company raised $87 million from over 60 celebrity investors in April, including several who are active in the NFT space, such as Steve Aoki, Paris Hilton, Snoop Dogg, Justin Bieber, The Weeknd, Ashton Kutcher and Guy Oseary, among others.
The company has more than 10 million customers, all of whom can join the Web3 Passport program. Additional tiers will be added to the program over the next year.
“We’re becoming more like an American Express,” MoonPay CEO Ivan Soto-Wright said in an interview with The Block. “You have an obviously robust payments network and platform. But then you also have all the experiences. And so I think that’s kind of how we see us bridging both of these components of our business.”
In October, Flamengo, one of the biggest sports clubs in Brazil, announced that it has entered a multi-year partnership with MoonPay to launch a number of Web3 products that could include loyalty programs, unique experiences, and complimentary items.
For Art Basel Miami last year, MoonPay teamed up with Bored Ape Yacht Club to host an interactive scavenger hunt. This year, the company is powering ‘The Gateway: A Web3 Metropolis,’ an event that will host installations by GMoney’s 9dcc, Art Blocks, Christie’s, Faze Clan, Instagram, and RTFKT as well as speakers, artists, and musicians such as Gary Vee, Beeple, Kmoney, and Amanda Cassatt.
****
Sign up to the world’s biggest crypto exchange Binance to buy and sell cryptocurrencies.
Stay up to date:
