Inspiration
We find it inconvenient to handle multiple loyalty cards and our loyalty points tend to be underutilized. We hope to be able to use our loyalty points across different retailers or in overseas outlets.
What it does
Our team aims to increase customer engagement and brand loyalty, thereby boosting profits for FMCG companies through the development of a blockchain-based loyalty program using Aelf's infrastructure. This Web3 loyalty program addresses the problems associated with traditional loyalty programs, such as ineffective customer engagement, low redemption rates, and high maintenance costs. It is a mobile application called Chain Champ, integrated with Portkey Wallet. It will also be integrated with the payment systems of FMCG companies.
Loyalty points earned by members of the loyalty program are tokenized on the blockchain. Users can manage their earned loyalty tokens from different retailers all in the Chain Champ app and view available rewards conveniently. They can send loyalty tokens and NFTs on Chain Champ to others. This creates network effects because combining loyalty tokens with more people allows a group to enjoy greater discounts. Users can also trade NFTs using loyalty tokens, allowing users to receive unique and exclusive rewards. Furthermore, customers can use their loyalty tokens earned from different retailers across participating businesses.
Enterprises will also manage their loyalty programs through the Chain Champ app. They can issue NFTs that provide personalized experiences for their customers and gamify their loyalty programs such as by holding competitions to reward customers who spend more. Additionally, enterprises can access dashboards allowing them to analyze customer transactions using data from the blockchain.
How we built it
Tech Stack: Built on Aelf's blockchain, our app features a React.js/Angular front-end, Node.js/.NET back-end, integrates MongoDB/SQL databases, and includes the Portkey wallet for efficient token management.
Challenges we ran into
Ensuring that everyone is aligned on what the solution is
Accomplishments that we're proud of
Completing this report and the slide deck!
What we learned
More about blockchain technologies and Web3 loyalty programs
What's next for Chain Champ
Hopefully we get into the next round!
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