This collaboration between Alipay and Avalanche to create a voucher program powered by Web3 technology marks an innovative step in the realm of online payments and blockchain integration. Here are the key points highlighted by this partnership:
Alipay, a major online payment platform, has teamed up with Avalanche, a smart contract blockchain platform, to introduce a voucher program utilizing Web3 technology.
The voucher program, initially launched in Southeast Asian milk tea stores, enables customers to acquire vouchers by engaging in a mini-game. These vouchers, stored in e-wallets, offer discounts of up to 50% in over 500 milk tea shops.
The vouchers are powered by an Avalanche Subnet, managed by AvaCloud, Avalanche’s blockchain service. This indicates the utilization of Avalanche’s infrastructure to facilitate the creation and management of vouchers.
The program is in its initial proof-of-concept stage, aiming to demonstrate the feasibility and effectiveness of integrating Web3 solutions into Alipay’s ecosystem.
There are plans to expand the program to more than 2,000 stores and introduce vouchers to 100 million users. This indicates a significant scale-up effort and potential for widespread adoption.
Avalanche has been actively building its ecosystem through partnerships with notable brands. For instance, it collaborated with Sports Illustrated’s ticketing arm to host its NFT ticketing platform on the Avalanche network, demonstrating versatility beyond traditional financial applications.
Avalanche is diversifying its offerings beyond finance, as evidenced by its partnership with MapleStory, a popular MMORPG, to expand into an Avalanche subnet. This move showcases Avalanche’s interest in integrating blockchain technology into various sectors, including gaming.
Overall, this collaboration underscores the growing intersection between traditional payment platforms like Alipay and innovative blockchain solutions like Avalanche, paving the way for novel applications and experiences in the digital economy.
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