Web3 tools powered by the Solana Layer 1 blockchain are generating tangible returns and delivering deep insights into customer data, according to prominent brands and top companies attending Solana Breakpoint.
The four-day conference in Amsterdam attracted a wide variety of companies and projects from Web2, Web3 and traditional environments. A notable takeaway was the adoption of Solana-based tools and services, innovative payments and loyalty programs.
Boba Guys, a growing US-based bubble tea brand modeled after Starbucks, explained how its pilot program for a new customer loyalty app delivered insightful data while incentivizing customers to return to its stores. in San Francisco.
Related: Visa leverages Solana to expand USDC payment capacity
The five-week program relied solely on in-store promotion to local customers. 600 users were onboarded and 31% of orders were attributed to the loyalty program after the fact. Co-founders Bin Chen and Andrew Chau also reported that the app saw a 67% increase in monthly visits from loyalty program users and a 65% increase in spending.
Solana Foundation head of commercial business development Josh Fried told Cointelegraph that the development of the loyalty program provides a tangible use case for commercial clients looking for blockchain-based Web3 tools to build their businesses and foundation. Of customers.
“Initial data from the Boba Guys pilot shows that we are actually improving their commercial results. A real retailer with 25 locations came on stage and said this Solana-based program would bring an 800% return on investment,” Fried explained.
For every dollar Boba Guys invests in the program, the company earns $9 in revenue in return. It’s a “legitimate business improvement,” Fried said, and the company plans to roll out the app to its stores in San Francisco, New York and Los Angeles.
The recent integration of Solana Pay into e-commerce platform Shopify is another indicator that Web3-based payment tools are becoming a viable alternative for mainstream businesses. Fried explained how merchants are starting to provide meaningful feedback on their payment path adoption.
Non-fungible token project MadLab saw a material increase in sales from crypto-native users who owned cryptocurrencies. “These users were holding USDC on Solana, hoping that the utility would use it to pay for something rather than simply trade. The community used the integration to start purchasing products,” Fried said.
Another anecdote came from a Denver, Colorado-based entrepreneur who turned to Shopify’s Solana Pay integration to boost custom fragrance sales. The appeal of the payment solution is Web3’s ability to help drive eCommerce sales:
“When you shop in e-commerce, you can’t smell anything. Good. He says: ‘for a storyteller, I need metaverses, I need Web3 technology that will bring new layers to the market.’”
While optimistic, Fried admits there is a significant amount of work to drive adoption of Solana Pay and Solana-based Web3 tools. Having worked at Google for a decade developing Google Pay, he points out that it took years for even the tech giant to see adoption of its increasingly ubiquitous payment service.
“What helps is when someone like Visa comes along and says, ‘Hey, let’s start doing interbank settlement on the Solana blockchain,'” Fried explains. Leading payment processors and rails will be crucial in driving adoption of Web3-based payments.
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