Daily Crypto, Finance, and Tech News Summary – August 8, 2023

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Welcome, and thank you for being part of the MyZucoins community! Let’s get into an interesting piece of crypto, finance or tech news to stay ahead.

Update: Back by popular demand! After our last announcement of switching to once-a-week newsletters, we’ve had lots of you email back asking for daily news! This complicates things a bit 😋. To strike a balance with those who find it too much and those who don’t, we’ll focus on one main topic per day to make them easier to get through. As always, please let us know what you think!

Glamorous event with lots of security guards protecting celebrities boarding a white jet plane

Frequent Flyers Rejoice: Etihad’s NFTs Take You Sky-High

Etihad Airways is pushing the envelope with its newest loyalty initiative. The United Arab Emirates’ national airline will offer a new lineup of its EY-ZERO1 non-fungible tokens (NFTs), which are digital assets with a unique twist. This limited-edition set, only 300 in all, is launching on August 1st, and it’s more than just digital art. These NFTs will make you feel like Tom Cruise. They’re designed to look like the Boeing 787 Dreamliner from the “Mission: Impossible” movie series.

The EY-ZERO1 NFTs come loaded with perks. Holders will enjoy a year of Etihad Guest Silver Tier Status, priority check-in, and even access to an airport lounge in Abu Dhabi. But here’s the kicker: you can earn frequent flyer miles by simply holding onto these NFTs. It’s like putting your digital assets to work for you.

Come September, Etihad will introduce “Horizon Club”, a Web3 loyalty program. This program will allow NFT holders to earn more Etihad Guest Miles, which can be used for flights, upgrades, and more perks. It’s a brave new world of loyalty programs, and Etihad is leading the charge.

Etihad isn’t alone in this innovative approach. Airlines worldwide, such as Argentina’s Flybondi and Japan’s All Nippon Airways, are exploring blockchain-based offerings. They’re using NFTs to offer tickets, add perks, and even create digital avatars based on passengers’ flight histories. It’s clear that the future of air travel will be intertwined with the digital world, and Etihad Airways is already soaring in that direction. Read more here.

Where Could Cryptos Like Zucoins Position Themselves?

The world of non-fungible tokens (NFTs) offers a unique opportunity that Zucoins could utilize in future. Much like Etihad Airways’ strategy with EY-ZERO1 NFTs, such a capability with Zucoins would allow others to create exclusive benefits within their own communities and businesses. These digital assets could involve providing priority access to new specials, exclusive access, loyalty rewards or more. By linking tangible benefits to these unique digital tokens, any user or business could incentivize user engagement, adding exclusivity and loyalty to their own user experience by creating their own NFTs.

Given the underlying Splitchain network is aiming for efficient, decentralized, and user-friendly transactions, it would be well suited to support such user-created extensions to the platform. Users could create extensions that would allow other users to earn loyalty points for conducting transactions within the network, with these points redeemable for a variety of benefits from those businesses. This system would not only drive user activity but also foster a strong sense of community.

While the integration of the metaverse may seem futuristic or over-hyped, it’s a frontier Zucoins could explore to stay ahead of the curve in coming years. As airlines like Japan’s All Nippon Airways are demonstrating, the metaverse provides a new dimension for digital interactions. By creating a virtual space for users to interact with their Zucoins or navigate the Splitchain network, Zucoins could bridge the gap between the physical and digital realms. This could lead to new avenues for engagement and revenue.

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All the best,
Peter & Rob