Insomnia Labs launches Coca Cola into the web3 world

Insomnia Labs, a New York-based blockchain technology company, is launching a new brand loyalty program called ‘Loyalty+’, allowing affiliates such as Coca Cola to better explore the potential of web3.

The initiative could maximize brand community engagement through digital loyalty campaigns that incorporate gamification elements and allow users to redeem their rewards universally.

Coca-Cola, which has already shown interest in the blockchain industry following the recent launch of NFT’s ‘The Masterpiece Collection’ on the Base network, could take on this new venture in the web3 space through new forms of virtual interaction with its develop customers.

Full details below.

Insomnia Labs and the launch of the ‘Loyalty+’ initiative to encourage brands to explore the world of blockchain

Insomnia Labs, a New York-based technology company active in the blockchain industry, announced this two days ago the launch of a new loyalty program called “’Loyalty+”, which aims to help brands bring their communities into the digital world of web3.

The company has already built high-profile partnerships with Coca-Cola, NYX Professional Makeup by L’Oréal, Web3 Ventures, Berlin Cameron, OpenSea, Polygon, Coinbase, The Sandbox and Animoca Brands, and now aims to completely change the way brands perceive. loyalty activities.

Loyalty+ leverages a range of Web3 technologies and trends, such as blockchain, NFT and AI, by providing an all-in-one platform where the different communities can meet the different target brands, complete tasks and redeem rewards.

The unified online portal provides unique user engagement, with tailor-made experiences that incorporate gamification elements.

On October 18, as part of the Loyalty+ launch plan, Insomnia entered into a strategic partnership with several web3 companies that will help the company revolutionizing the concept of ‘brand loyalty’.

These include Co:Create, Smart Token Labs, Cookie3 and Crossmint.

Specifically, the aforementioned collaborations will help Insomnia transition from traditional web platforms to those of the blockchain world, ensure interoperability in the DeFi space and promote interactive gaming experiences.

In unveiling what could prove to be the dominant infrastructure of the future for connecting brands and communities, Billy Huang, CEO of Insomnia Labs, highlighted the initiative’s mission:

“Loyalty+ is not just a product, it is a paradigm shift in the way loyalty is perceived and implemented in the modern digital age.”

Now major companies like Coca-Cola, Under Armor and L’Oréal will be able to maximize the impact of their customer loyalty projects. expanding their reach and unlocking a whole new potential where blockchain technology comes to the fore.

Coca Cola embraces innovation and experiments with the use of blockchain in web3: loyalty programs and NFT collections

Coca Cola is already working with Insomnia Labs in 2021, exploring the possibilities of blockchain technology and experimenting with the potential of web3’s own relationship practices.

By joining the Loyalty+ initiative, the multinational soft drink company will have a seamless platform the community can participate in events and games, earn points and redeem rewards in real time.

All these steps are recorded in distributed digital logs that allow both the user and the company to track progress and develop new virtual interaction relationships.

Many analysts believe that such collaborations may reflect the situation a growing interest in merging traditional and Web3 aspects for a more enriched customer experience.

Loyalty program statistics tell us that the majority of global consumers love the reward games and initiatives offered by big companies, but only 64% of them are able to redeem the promised rewards because there is no place to track these processes and automate.

We can only imagine the benefits for Coca-Cola, which will sell more than 13.7 billion liters of its drink worldwide in 2021, if it joins this project that is completely revolutionizing the loyalty relationship between brand and customer.

In August, Coca Cola delved into the web3 world by launching its own NFT collection within the Base crypto network, Coinbase’s Layer-2.

The ‘Masterpiece Collection’, part of Coinbase’s ‘On Chain Summer’ campaign, allowed all interested stakeholders to make purchases collectible tokens featuring historical artworks and works by emerging talent from around the world.

Some of the most famous works were ‘The Scream’ by Edvard Munch, ‘The Girl with the Pearl Earring’ by Johannes Vermeer and ‘The Bedroom’ by Van Gogh.

On the contemporary front, we could see works by Aket and Vikram Kushwah.

In total, there were eight different types of NFTs available. Each type of NFT featured a different work of art next to the classic Coca Cola bottle.

In totalmore than 80,000 NFTs were minted within two months of launching the project at a mintage price of approximately 0.014 ETH per piece, generating a total volume of approximately half a million dollars.