As a seasoned crypto investor with over a decade of experience navigating the ever-evolving digital asset landscape, I find SBI Digital Community’s initiative to be a refreshing and promising step towards real-world adoption of blockchain technology. The choice of Polygon and XRP Ledger for their inaugural NFT sale not only demonstrates SBI’s commitment to diversification but also opens doors to a wider user base, thanks to the acceptance of credit card payments.
In simple terms, the subsidiary of SBI Holdings, a prominent Japanese financial group, is planning to sell its first series of NFTs called “Crypto Canvas Collection” in October 2024. This sale will occur over two days (October 12-14, 2024) on both the Polygon and XRP Ledger networks. The transaction will be facilitated through a platform named “Bto3 ~ Web3 community ~,” which is managed by SBI Digital Community and focuses on promoting Web3 initiatives.
SBI Chooses Polygon And XRP Ledger
The “Crypto Canvas Collection” encourages collective storytelling among its community members on a digital platform. As SBI Digital Community describes, every piece in this collection is a distinctive, manually crafted and generative Non-Fungible Token (NFT). This collection comprises 3,000 exclusive NFTs, each valued at 0.025 Ether.
Significantly, it’s worth mentioning that credit card payments will be an option during the public sale, making it more accessible for those unfamiliar with cryptocurrency. The NFTs will be produced on the Polygon blockchain, and participants interested in the sale can find it through our Discord channel at this link: https://discord.gg/bto3.
In their recent announcement, SBI Digital Community underscores the importance of user-friendliness in this project. They assure that their platform Bto3 is designed to help novices navigate Web3 and make purchases with ease. If you encounter any issues or have questions, feel free to reach out to us through our ‘support’ channel on Discord.
Individuals who possess the initial set of NFTs (Non-Fungible Tokens) will enjoy a variety of special perks. People holding one or multiple NFTs will have the opportunity to enter a lottery draw to potentially win more NFTs and also gain access to an exclusive NFT discount program, which is planned to debut in Q2 2025 at participating stores across the country. For every two NFTs you own, you’ll receive a replica of the Crypto Canvas Collection on the XRP Ledger (XRPL), set for distribution in November 2024, and an automatic addition to your collection when the second NFT series is released.
One notable aspect of this project involves a unique NFT-based discount program designed to integrate digital assets into everyday life. This service grants discounts to users who own qualifying NFTs, when they shop at partnered establishments across the country, merely by possessing the NFTs in their digital wallets.
The authentication process involves scanning a QR code shown at the store, linking it with your digital wallet. After scanning, the discount will be made available when you present the authenticated screen to the store assistant. Notably, this system doesn’t demand any expertise in Web3 from the retail staff, and it is free for both stores and customers to utilize. According to SBI Digital Community, this service can easily be implemented by stores without requiring Web3 knowledge.
The service utilizes the built-in membership card feature of Non-Fungible Tokens (NFTs). It tackles a frequent issue in customer management by enabling retailers to authenticate present NFT owners without handling specific customer information. Essentially, this means that even when there’s secondary circulation due to blockchain, managing customers isn’t necessary, and it’s possible to identify current NFT holders instead.
In terms of how it operates, the NFT discount service differs significantly from conventional discount schemes. Unlike regular programs, there are no charges for stores associated with its usage. Instead, it allows users the freedom to trade their NFTs, creating a unique income model where both businesses and customers reap benefits.
SBI asserted that one hurdle Web3 has faced is its struggle towards widespread acceptance because it lacks practical applications in everyday life. By introducing this NFT discount service, we aim to accelerate mass adoption and establish a mutually beneficial ecosystem for users, retailers, and our company.
By making available an XRPL adaptation of the Crypto Canvas Collection for holders of multiple NFTs, SBI Digital Community is utilizing the speed and efficiency of the XRP Ledger, a blockchain known for its rapid transaction processing. This action underscores SBI’s persistent efforts to incorporate XRP Ledger technology into their blockchain projects. It’s worth mentioning that SBI is one of Ripple‘s long-standing partners.
At press time, XRP traded at $0.53.
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2024-10-08 22:12