Crypto news: Lufthansa Group is planning to launch a Web3-type rewards program based on the Polygon blockchain with the aim of rewarding passengers of different airlines.
See below for all the details.
Summary
Lufthansa’s innovation in the Web3 world: loyalty program on the Polygon blockchain
As anticipated, Lufthansa Group, which is the second largest airline in Europe and includes Lufthansa, Swiss International Air Lines, Austrian Airlines, and others, is currently planning to launch a Web3-type rewards program.Â
Specifically, this program will be based on Polygon’s blockchain technology and will aim to reward passengers from the different airlines belonging to the group.
The system rewards travelers with collectible digital cards in recognition of specific trips, and offers users the opportunity to exchange these cards with others to complete collections and obtain rewards.
During the trial phases, 20,000 people were involved, who saw more than 150,000 collectible cards distributed.
The Lufthansa Group, which boasts a membership base of more than 20 million in its current loyalty program, called Miles and More, is following in the footsteps of another successful program based on Web3 technology: Starbucks’ Odyssey, which was also launched on the Polygon blockchain.
We see that Uptrip is the new loyalty platform of Lufthansa Innovation Hub, which transforms travel experiences into unique collections, rewarding passengers with NFT collectible cards for each trip taken.
Each collection has a variety of unique cards and, when completed, will grant exclusive rewards, including vouchers for business lounge access, free airline miles, and frequent traveler status upgrades.
Users will have the opportunity to select from a wide range of cards, including Cities (such as Lisbon, New York, Rio de Janeiro, Singapore, and many more), Planes (such as Airbus A320, Boeing 747, Embraer 190), and Specials (such as during flights on New Year’s Eve, across the North Pole, and more).
To participate, users will be able to link their digital wallets, such as Metamask, to mint, transfer and exchange Uptrip trading cards in the form of NFTs.
Polygon revolutionizes its token: introducing POL, the third-generation crypto
In a recent revelation that aroused great interest in the cryptocurrency community, Sandeep Nailwal, the founder of Polygon Labs, unveiled a major update coming for Polygon’s native token, MATIC.Â
This token is about to undergo a radical transformation, becoming POL, a “third generation” cryptocurrency that goes far beyond a simple rebranding. This step represents a significant technological advancement for the Polygon ecosystem.
According to Nailwal’s post on Platform X (Twitter), the new POL token will offer a number of improvements, including multi-chain staking capability without the usual risks associated with restaking.
This development is part of the broader Polygon 2.0 proposal, which aims to expand the ecosystem from the single chain to a network of Layer 2 (L2) solutions that can interoperate and share liquidity.
The POL token represents an exciting innovation that is set to redefine the role of tokens within ecosystems. With the advent of Polygon 2.0, POL will be staked within a designated “staking hub,” in a process Nailwal calls “consecrated restaking.”
This allows POL to be engaged on different chains and play various roles within the network, enabling stakeholders to earn higher rewards without having to increase capital investment.
Nailwal also pointed out the significant progress of tokens in the cryptographic arena, comparing the passive role of Bitcoin holders in the first generation to the active staking capabilities introduced by Ethereum in its second generation.Â
Hence, with the advent of POL, holders will enjoy an unprecedented level of versatility. They will have the ability to secure different networks and take on a wide range of roles, opening up new horizons for the potential of cryptocurrencies.
