MoonPay to Launch Soulbound NFT Loyalty Program

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Quick take:

  • The soul­bound token gives its own­er access to exclu­sive events for fash­ion, art, sports and entertainment.
  • Moon­Pay will also pro­vide white-glove sup­port from its concierge ser­vice through this program.
  • Moon­Pay CEO Ivan Soto-Wright likens the company’s ser­vices to Amer­i­can Express.

Web3 pay­ment ser­vice provider Moon­Pay is set to launch a soul­bound NFT loy­al­ty pro­gram, accord­ing to a report by The Block. 

Soul­bound tokens are non-trans­fer­able tokens rep­re­sent­ing a person’s iden­ti­ty, using blockchain technology.

Set to be announced at Art Basel Mia­mi 2022 hap­pen­ing this week­end, the NFT loy­al­ty pro­gram is called ‘Web3 Pass­port’. The soul­bound NFTs will grant their own­ers access to exclu­sive events and oth­er ben­e­fits relat­ing to fash­ion, art, sports and enter­tain­ment, per­haps due in part to its con­nec­tion with pub­lic fig­ures in those sec­tors. The pro­gram will be rolled out ear­ly next year.

The com­pa­ny will also pro­vide white-glove sup­port from its concierge ser­vice which helps high net-worth indi­vid­u­als and cre­ators to pur­chase NFTs and cryp­to. Clients of MoonPay’s concierge ser­vice include Jim­my Fal­lon, Post Mal­one, Snoop Dogg, Eva Lon­go­ria and Madon­na.

In March, Moon­Pay won a bid for a high­ly cov­et­ed World of Women NFT on behalf of a mys­tery buy­er. The mys­tery buy­er of this WoW NFT appears to have used the concierge ser­vice – which usu­al­ly buys NFTs on OpenSea – for the auc­tion at Christie’s.

MoonPay’s con­nec­tion with celebri­ties extends beyond NFT pur­chas­es. The com­pa­ny raised $87 mil­lion from over 60 celebri­ty investors in April, includ­ing sev­er­al who are active in the NFT space, such as Steve Aoki, Paris Hilton, Snoop Dogg, Justin Bieber, The Week­nd, Ash­ton Kutch­er and Guy Oseary, among others.

The com­pa­ny has more than 10 mil­lion cus­tomers, all of whom can join the Web3 Pass­port pro­gram. Addi­tion­al tiers will be added to the pro­gram over the next year.

“We’re becom­ing more like an Amer­i­can Express,” Moon­Pay CEO Ivan Soto-Wright said in an inter­view with The Block. “You have an obvi­ous­ly robust pay­ments net­work and plat­form. But then you also have all the expe­ri­ences. And so I think that’s kind of how we see us bridg­ing both of these com­po­nents of our business.”

In Octo­ber, Fla­men­go, one of the biggest sports clubs in Brazil, announced that it has entered a mul­ti-year part­ner­ship with Moon­Pay to launch a num­ber of Web3 prod­ucts that could include loy­al­ty pro­grams, unique expe­ri­ences, and com­pli­men­ta­ry items.

For Art Basel Mia­mi last year, Moon­Pay teamed up with Bored Ape Yacht Club to host an inter­ac­tive scav­enger hunt. This year, the com­pa­ny is pow­er­ing ‘The Gate­way: A Web3 Metrop­o­lis,’ an event that will host instal­la­tions by GMoney’s 9dcc, Art Blocks, Christie’s, Faze Clan, Insta­gram, and RTFKT as well as speak­ers, artists, and musi­cians such as Gary Vee, Beeple, Kmoney, and Aman­da Cassatt.

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