Wednesday, 19 June 2024

Crypto News

US-based drink retailer Boba Guys taps Solana for loyalty rewards program

US-based drink retailer Boba Guys taps Solana for loyalty rewards program

  • Boba Guys is a popular US tea retailer that operates in California and New York.
  • Solana Foundation recently invested $100,000 into Boba Guys.
  • Boba Guys has now tapped Solana for its loyalty rewards program.

Solana has been chosen by popular US tea retailer Boba Guys for its loyalty rewards program just a day after Solana unveiled the flagship, security-conscious, crypto-first Android device Saga.

Saga makes it easy and secure to self-custody digital assets and removes the friction associated with digital assets. It also features a Seed Vault, which makes it a hardware wallet. It is now available to customers who pre-ordered and will be available starting on May 8 for new orders.

Boba Guys loyalty rewards program powered by Solana

The popular tea retail chain selling bubble tea opened in 2011 and is seeking to further deepen its community and give back to its customers through its Web3 rewards initiative. The initiative will utilise Solana’s high-speed, low-cost network to integrate non-fungible tokens (NFTs) and token-gated experiences to help boost consumer engagement.

The choice of Solana comes after the Solana Foundation invested $100,000 into Boba Guys.

The co-founder of Boba Guys, Bin Chen, in an interview with popular a popular media outlet, said:

“People that come into our stores may not know a single thing about Web3, Solana, blockchain, or any of those things, just the same way that people that come into Boba Guys may not know anything about boba. We have that same approach with how we’re doing Web3.”

On the side of Solana, the head of commerce business development at the Solana Foundation while commenting about the selection by Boba Guys said:

“Their vision for the future of cafes and retail is a model that could become the standard in the years to come. This collaboration will show how loyalty programs can be improved for both customers and retailers and create a path for other organizations to follow.”

Boba Guys is not the first retailer to embrace Web3 loyalty programs to deepen customer relations. In December 2022, Starbucks launched the beta of its Odyssey program to offer gamified Web3 experience to its customers.

Solana price reaction

The news has not had much impact on the price of Solana’s native token SOL.

At press time, the price of SOL had dropped by about 1.50% to trade at $24.43.

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