Avalanche’s Spruce Subnet has been used by Citi to successfully explore the tokenization of private equity funds. In collaboration with Wellington Management and WisdomTree, the experiment sought to determine the network’s potential to re-architect capital markets and improve financial services.
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Bringing FInancial Markets to a New AgeAvalanche’s Durango UpgradeEmpire State Launches Avalanche-Powered NFT Loyalty Program
Web3 loyalty platform Uptop has partnered with Empire State Realty Trust (ESRT) to launch an innovative NFT ambassador program built on the Avalanche blockchain. This initiative aims to recognize and reward the over 4 million annual visitors to New York’s most famous attraction: the Empire State Building.
The program issues NFTs to visitors that serve as digital keepsakes and unlock rewards for every repeated visit. Uptop chose Avalanche due to its enterprise scalability, as it expects to reach “hundreds of thousands of people in its first year”. With over 4 million people visiting the iconic building, Avalanche’s speed, security, and support were key factors in the decision.
The program’s NFTs will include rewards like complimentary tickets, exclusive event access, entries to annual events like the Run-Up, and additional perks as visitors level up. Uptop believes that digital mementos’ ability to offer added value could replace physical souvenirs, which is why they chose to implement the program.
The NFTs will integrate with partner merchants like Tacombi and STATE Grill and Bar, offering holders redeemable benefits designed to improve their NYC visit. Uptop Cofounder John Timoney celebrated the partnership by calling it a “blend of tradition and digital innovation” that would “immortalize visits”.
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Author: Nicholas Say
