The aim of this product launch is to allow well-known companies such as Gymshark, Taylor Stitch, and Asphalte to embed dynamic Web3 rewards experiences into their events and products. The app includes a dynamic suite of blockchain-based rewards, token-gated access rights, and loyalty-focused features that brands and creators can link to their Shopify-listed products and exclusive drops.
Co:Create’s Web3 Rewards Tools supports the development of innovative rewards programmes following successful Web3 activations by industry giants such as Nike and Starbucks. According to the company press release, Starbucks’ Odyssey is setting the bar high for Web3 loyalty programs, as does Nike’s .Swoosh, which has attracted more than 300,000 members and generated a revenue of USD 186 million.
Up until now, only companies that were familiar with Web3 could benefit from the advantages of such loyalty programmes. However, Co:Create’s Web3 Rewards Tools app was designed to allow any brand to improve the way its customers engage with its products in a familiar and intuitive environment.
Co:Create’s Web3 Rewards Tools is based on a framework that allows store owners to build dynamic gamified community rewards experiences. With this app, users can set criteria for customer purchases, which are implemented via a set of community and loyalty-focused eligibility factors, including token-based reward points. This way, brands can gain full hands-on control and visibility into segmenting their community rewards and access across product drops directly on Co:Create’s App via Shopify.
The Co:Create app can help brands to drive engagement and loyalty by monitoring trends and offering limited runs of token-gated products to their most important fans. This feature is supported by Co:Create-powered membership tokens that can be held by customers in their digital wallets. The app allows store owners to launch criteria-based, token-gated rewards based on any Ethereum ERC-721 and ERC-1155 standard. This includes collections such as CryptoPunks, Bored Ape Yacht Club, Doodle, and NBA Topshot.
Fundera has recently reported that more than 2.1 million customers from over 175 countries visit Shopify daily, as more than 4 million merchants and brands offer their storefronts on the platform. Moreover, since 2014, global ecommerce has grown from a USD 1.3 trillion industry to a USD 3.5 trillion industry, and by 2040, it is estimated that as much as 95% of all purchases will be conducted online.
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