Coras Launches FIDA For Brands To Issue Their Own Loyalty Tokens
Brand’s using FIDA will simply need to issue a token to operate their loyalty programme.
Customers can initially earn FIDA tokens by purchasing tickets from Rakuten Tickets with more partners to be announced.
FIDA token and dApp have been built on Polygon.
16th January 2023
Coras has today launched FIDA, the infrastructure for brands to issue their own loyalty tokens when customers purchase their goods and services.
Coras has connected FIDA to its tickets API product. The first token issued will be FIDA (FID) which customers will be able to earn by purchasing tickets initially from Rakuten Tickets https://rakuten.co.uk/ticketing and then from selected Coras partners. Buy Tickets. Get Tokens.
Also launching is a dApp where customers can swap their tokens. The dApp has liquidity providing and staking functionalities.
In the coming months, our Partner Brand’s customers will be able to use their tokens to pay for goods and services.
“The killer feature for consumers of tokens versus points is instant liquidity”
FIDA Co-founder,Mark McLaughlin, commented “Loyalty is the perfect product for onboarding consumers into Web3 as it is a better, more flexible, version of a product they already understand.
The killer feature for consumers of tokens versus points is instant liquidity as tokens can be converted into other tokens or stablecoins and used to pay for goods and services.
The benefits of decentralised loyalty tokens over centralised loyalty points for consumers include interoperability, transferability, and tokens that don’t expire.
Pre FIDA, it was expensive and difficult for brands to set up and run a loyalty programme. Now with FIDA, brands will simply need to mint a token using FIDA’s infrastructure for token issuance and redemption.
FIDA is building the infrastructure for brands to issue their own loyalty tokens when customers purchase their goods and services.
FIDA has been created by the team at Coras