MoonPay Launches Web3 Platform to Enhance Brand Engagement

On May 29, 2024

MoonPay, a leading blockchain payments infrastructure firm, has unveiled its new Web3 platform, aimed at enhancing digital experiences for brands interested in the crypto space. This move signifies a significant expansion of MoonPay’s services, offering brands a comprehensive suite of Web3 tools to boost digital engagement.

MoonPay’s newly launched Web3 Tools platform integrates innovative features such as crypto payments, authentication, identity verification, ticketing, tokenization, and NFT minting. These tools are developed specifically to provide brands with the necessary resources to create interactive and personalized digital experiences, fostering community building, loyalty, and unlocking new revenue streams.

Ivan Soto-Wright, co-founder and CEO of MoonPay, emphasizes the crucial role of digital experiences in future consumer engagement. He highlights the need for safe and straightforward tools that enable brands to explore new commerce opportunities in the evolving digital landscape.

Growing Adoption of Web3 Solutions

The adoption of Web3 solutions by brands is on the rise. Luxury brands like Louis Vuitton have started blending digital collectibles with physical products to offer unique consumer experiences. NFTs are also being used in loyalty programs to provide ongoing benefits and rewards, enhancing customer engagement.

Well-known global brands such as Adidas, Gucci, Puma, and Mastercard have already utilized MoonPay’s Web3 Tools. For example, Puma created digital twins of its latest collections on the platform, allowing customers to purchase digital sneakers that can be redeemed for physical pairs.

MoonPay’s Web3 Tools platform incorporates technologies obtained from MoonPay’s acquisitions of NFT solution ethpass, Plex Labs, and Nifty’s. By integrating these technologies, MoonPay aims to advance the integration of blockchain technology into mainstream consumer strategies.

Partnerships Driving Crypto Services Expansion

To expand its cryptocurrency services, MoonPay partnered with PayPal, granting PayPal’s customers access to over 100 digital assets. This collaboration aims to provide users with greater flexibility and a wider variety of tokens, bypassing certain restrictions on crypto purchases made with debit cards.

Launched in 2019, MoonPay is a crypto unicorn backed by prominent venture firms. The company focuses on bridging fiat-to-crypto transactions using debit and credit cards. MoonPay recently made a $1 million contribution to Stand With Crypto, an advocacy group with a political action committee (PAC) established by cryptocurrency exchange Coinbase.

With the customer loyalty and engagement market projected to reach $25.4 billion by 2029, MoonPay’s initiatives and partnerships aim to capitalize on these trends. The broader adoption of blockchain technology in everyday business is a key objective for MoonPay.

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