Moca Network, a decentralized digital identity initiative from Animoca Brands, has launched a verifiable loyalty platform developed in partnership with Spree Finance and SK Planet.
Decentralize identity for millions of users
Moca Network, Animoca Brands’ decentralized digital identity initiative, has launched AIR Shop, one of the world’s first verifiable loyalty platforms. Developed in collaboration with Spree Finance and South Korean technology leader SK Planet, AIR Shop aims to transform traditional rewards into transparent, interoperable Web3 assets.
The partnership marks a significant milestone, with SK Planet adopting Moca Network’s enterprise-level decentralized identity infrastructure. SK Planet, operator of OK Cashbag, South Korea’s largest integrated rewards service, is integrating AIR Identity, Moca Network’s flagship digital identity platform.
This integration enables verifiable identity services for 29 million OK Cashbag users and 95,000 merchants, secured by zero-knowledge proof technology. The system guarantees the sovereignty of user data while supporting high interoperability between platforms.
“By partnering with Moca Network to launch AIR Shop, we can expand our ecosystem to Web3 while continuing to serve our millions of users with more value and more exciting experiences,” said Kyosu Kim, Chief Business Officer of SK Planet.
Users can earn rewards worth up to 31% of their spend, depending on their membership level. Points are denominated in AIR SP, the platform’s stablecoin-backed loyalty points system, and can be redeemed or spent transparently on-chain.
“AIR Shop represents a new era of verifiable loyalty: rewarding users with precision, preventing reward abuse, and giving users ownership over their data,” said Kenneth Shek, project leader at Moca Network.
Driven by new standards and privacy requirements
Shek explained that verifiable loyalty programs differ from traditional programs in that status and rewards are globally recognized and universally trusted. Verifiable credentials allow users to carry their loyalty identity across multiple platforms and merchants, transforming previously isolated points into interoperable, on-chain assets.
“What makes AIR Shop even more powerful is its use of stablecoin-backed rewards,” Shek added. “Unlike traditional loyalty points, which can fluctuate in value or expire, these tokenized rewards give users the confidence that their earned value will be maintained over time.”
Shek cited two key reasons for launching AIR Shop now: the increasing adoption of decentralized credentials and verifiable credentials as authentication standards across governments, businesses and blockchain ecosystems; and changing consumer expectations around data privacy.
“People are now much more reluctant to share personal data with centralized platforms unless they see clear benefits or have control over their information,” Shek said. “Verifiable identity solutions make it possible to prove your identity without revealing sensitive information, aligning with a privacy-first mentality.”