Thoughts on putting spendable loyalty points/miles on chain?

owners of loyalty and points programs are notorious for devaluing whenever they like. might be hard for them to give that up.

andyjagoe.com // denim.vc // tokenizing real-world assets / onchain venture funds @fairmint

Good point. What do you think about a gift-card program like Starbucks’s? Presumably that reloadable balance remains pegged to fiat.

interesting

long term, gift cards on chain may collapse the cost of gift card programs and expand the market

it's like having your own stablecoin pegged to the dollar, redeemable only for the products of one business

'value' issued could expire after a certain time period, just like gift cards

you could also do NFTs redeemable for specific value amounts--might make it more fun

NFTs could be deposited to a gift card balance a la amazon's program

1) on-chain activity tells you a lot about 'gift card' NFT buyers/recipients. this could mean much more personalized & relevant merchandising

2) lower cost means solution not limited to only big merchants

barrier (for now) is web3 wallet adoption

Exactly what I was thinking. I see some benefits and some drawbacks, but I’m trying to think of unique value props that crypto might enable. 

Yeah, it’s basically a merchant-branded stablecoin.