The article discusses the challenges faced by web3 loyalty programs in delivering on their promise of offering more flexibility and control to customers. While the concept of tokenized rewards on the blockchain initially seemed promising, the reality is that these programs are often difficult to use, closed off, and lack liquidity. The complexity of web3 technology and the lack of user-friendly platforms make it difficult for users to navigate and adopt these programs. Additionally, the value of tokenized rewards is limited if there are not enough platforms accepting them. The article suggests that universal direct redemption, where users can use their rewards directly without the need for exchanges, could be a potential solution to improve usability and create sustainable liquidity. Despite the current challenges, web3 loyalty programs have potential, and with big players like Visa exploring blockchain for these programs, consumers may see real change in the future.



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