BMW Teases NFT Powered Loyalty Program

Car manufacturers seem to be in a love affair with blockchain technology and all its associated products, such as NFTs, these days. From KIA to Rolls Royce, we’ve seen everyone getting in on the action. The latest addition to this club is BMW, which has announced its new loyalty program based on blockchain technology.

BMW Takes on Blockchain 

Focused initially on its Thailand-based customers, this new loyalty program will leverage the BNB chain and Coinweb for the creation of decentralized structures. Through this structure, users will be able to gain loyalty points and ascend up the tier ladder. Over time, these points can be used to redeem rewards to buy products and services from the brand. 

As seen recently, several major companies have incorporated NFTs in their rewards programs. Essentially, offering them as a way to unlock benefits for users and BMW could very well do the same. BMW also filed several NFT-related patents this year which could point to similar initiatives.

As Coinweb CEO Toby Gilbert, says, “Customers will be rewarded with loyalty points and they will be able to spend within the ecosystem. Our hope is that there will be a future global rollout but currently our partnership is for Thailand.”

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Image credit via: BMW

*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

Tokoni Uti has written extensively on blockchain and cryptocurrency for years. Her work has appeared on sites like BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.