BNB Chain has launched a no-code NFT loyalty program solution to help businesses easily create NFT-based loyalty systems. The platform allows businesses to attract customers with tradable digital benefits.
BNB Chain, a blockchain ecosystem famous for hosting the largest smart contract platform with daily transactions, has introduced an NFT loyalty program solution. This no-code platform allows businesses to launch NFT-based loyalty programs, giving customers the ability to trade and collect digital assets.
The solution follows recent developments in tokenization on the BNB chain and focuses on its mission to engage the next billion Web3 users. This allows organizations and small businesses to easily implement blockchain technology within their business processes without any coding knowledge.
The platform provides seamless NFT creation, management, and distribution, helping businesses transform the way they approach customer loyalty. Such NFTs can be used as promotional items, collectibles, and even serve as an additional form of currency for customers to engage with your brand over time.
No-code simplicity and Web3 integration
The NFT loyalty program solution leverages the BNB chain network for high performance and scalability. With the help of blockchain, companies can further develop their loyalty programs by offering digital assets as rewards. The platform also fits well into Web2 systems, so there is no confusion when an organization migrates from Web2 to Web3.
According to Jimmy Zhao, Senior Solutions Architect at BNB Chain, the platform is easy to access. He said Web3's no-code approach to ownership makes it easier for businesses to engage with customers in innovative ways.
The solution allows businesses to offer customers special collectible NFTs, encourage customer activity, and improve brand image. Through exclusive benefits, businesses can increase customer retention and strengthen the bond between businesses and consumers. However, the design is very simple so that the platform can be easily integrated into different business models.
NFT activity on the BNB chain shows mixed trends
The NFT loyalty program solution is another example of BNB Chain's commitment to leading in Web3 technology. These new tokenization tools provided by BNB Chain will assist enterprises in their digital transformation process.
According to a recent report from Messari, the trading volume of NFTs on the BNB chain increased dramatically in the third quarter, especially from whale investors. NFT trading volume increased 283% quarter over quarter, reaching an average of $600,400 per day. However, the number of daily buyers decreased by 53%, indicating the fact that activity was limited to a few individuals trading at higher prices.
BNB Chain's NFT trading volume was $55.2 million in Q3 2022, ranking third behind Ethereum and Bitcoin. Other blockchains such as Solana, Polygon, and ImmutableX also had higher trading volumes than BNB Chain.
However, the total value of the BNB chain increased by 2.2% to $4.8 billion, with Venus Finance being one of the highlights with a 13% increase. Additionally, deflation of 4.5% in the third quarter pushed BNB up 2.5% despite the market pullback.
It is worth noting that Binance Labs recently announced an investment in Kernel, a restaking solution focused on enhancing the security and utility of the BNB chain. Kernel includes liquid staking tokens and re-staked BNB on its platform, increasing financial stability for all dApps and protocols.
