MoonPay Launches Web3 Platform To Improve Digital Experience

MoonPay, a crypto infrastructure company, (photo: x @moonpay)

MoonPay, a crypto infrastructure company, is strengthening services targeting digital experiences for brands. According to an announcement on May 28, the company launched a platform dedicated to Web3 tools for digital involvement.

The new platform integrates existing services from MoonPay with new tools, including crypto payments, authentication, identity verification, tickets, tokenization, and printing of non-fungible tokens (NFTs).

Brands use Web3 solutions for consumer engagement by creating more interactive and personal experiences. For example, luxury brands like Louis Vuitton have integrated digital collections with physical products. In addition, brands also build loyalty programs by utilizing NFT to provide sustainable benefits and rewards.

Digital experience is the future of consumer engagement, said Ivan Soto-Wright, co-founder and CEO of MoonPay. He commented on the company's focus on embedding brands into Web3. Merek-brands need security and simplicity to confidently bring new trade opportunities to market.

According to Markets and Markets, the customer loyalty and engagement market is expected to reach a value of 25.4 billion US dollars by 2029 with a combined annual growth rate (CAGR) of 17.3% during that period. The market research firm says that an increasing subscription-based business model in various industries has led to adoption of loyalty programs targeting recurring income streams.

MoonPay is a crypto unicorn powered by venture companies such as Tiger Global, Coatue,wasom Capital, Thrive Capital, and Paradigm. The startup was launched in 2019 and focuses on bridging fiat-to-crypto transactions with debit and credit cards.

Companies that already use MoonPay's solution to enter Web3 space include Adidas, Gucci, Puma, and Mastercard. Together with Gucci, the company designed a digital offering and buying experience for its digital art program, while Puma used MoonPay to create digital twins from their collection, allowing fans to buy digital sneakers that can be exchanged for physical partners.

Meanwhile, Mastercard is working with this crypto company to build a 'Pass to Priceless' service, an integrated platform that combines digital assets for Mastercard customers.

Keep in mind, the essence of brand digital experience is to create deeper and personal engagement with customers through innovative digital technology.