In an effort to support the development of Web3, China’s largest payment app Alipay has partnered with blockchain developers Avalanche to adapt its services to the era of the decentralized Internet.
Avalanche developers have confirmed that Alipay’s enterprise-grade Alipay+ D-store solution will be integrating with its blockchain ecosystem to offer users new products that enhance their experience, encourage consumption, and foster entry into Web3.
According to the developers, the recent partnership between Alipay and Avalanche is focused on creating a new digital wallet and coupon program enabled by the decentralized web. These innovative solutions aim to help merchants foster new forms of consumption and interaction with users, as well as improve their understanding and accelerate the adoption of Web3 and digital assets.
Coupons, discounts, brand collaborations, NFTs and more
Alipay is leveraging Avalanche’s innovative architecture and one of the blockchain-based subnets to distribute e-vouchers on its Alipay+ D-store and Alipay+ solutions, which users can earn by participating in a branded mini-game. These vouchers offer discounts of up to 50% on products available on the e-commerce app.
Blockchain developers reported The vouchers will be redeemable at over 500 stores across Southeast Asia, and the program will be expanded to over 2.000 stores in the future. In total, this program will benefit 100 million users from the Philippines, Singapore, Malaysia, and Thailand, cryptocurrency blogger Colin Wu said.
Avalanche developers also explained that Alipay’s Web3-enabled digital wallet and coupon program will be implemented through a two-phase proof of concept (PoC), where brands and merchants working with the Chinese giant can test Web3’s capabilities to drive consumption, retain users, and improve customer experiences, while customers can unlock collaboration opportunities with brands and access rewards in digital collectibles and more.
One of the phases of the PoC launched with Alipay seeks to expand the adoption and development of use cases of the Avalanche ecosystem. Thus, in addition to discounts and improved customer experience, the partnership between Alipay and Avalanche represents a stimulus for the adoption of blockchain technology and the promotion of the decentralized digital environment.
Avalanche expands into the blockchain industry
The Avalanche ecosystem is experiencing significant expansion in the crypto industry. To date, this blockchain is part of the Top 10 of the main networks and cryptocurrencies in the market, in terms of capitalization, with a market value of more than $20.000 billion.
Part of Avalanche's growth is driven by the participation of large institutional players such as Citi, which is using this blockchain to explore the capabilities and benefits of tokenization. Likewise, the Empire State Building announced last month the adoption of Avalanche to launch a user loyalty program and, the video game software development company Gree, to create their first Web3 game.
Today, Avalanche has become an attractive blockchain ecosystem for companies looking to explore new technologies in a transparent, secure, and high-performance environment.
Continue reading: Avalanche to integrate Bitcoin, the most capitalized cryptocurrency on the market, into its DeFi ecosystem
