About six months after fast-casual Asian concept and virtual restaurant company Wow Bao first announced its foray into the metaverse with an NFT-based tiered membership rewards program, Wow Bao is now expanding its Web3 investment by upgrading its points-based rewards program called Bao Money to an NFT-backed loyalty program.
Customers will have the chance to purchase unique “CollectaBaos” (aka NFTs) designed by NFT artist, ManoverMars, aka MoM, from the first digital mint for $99 for the first year, automatically becoming part of Wow Bao’s new “Hot Buns Club.” The new loyalty club comes with benefits such as 10% off Wow Bao food and merchandise, double Bao Bucks and free meals.
To make this new NFT-based loyalty club happen, Wow Bao is teaming up with Devour as its Web3 ordering partner, Flaunt to create its digital collectibles, and the NFTs are also being integrated into the company’s existing Bao Bucks rewards program powered by Paytronix.
For future iterations of CollectaBaos, the company will be toying with new benefits such as members having direct access to Wow Bao CEO Geoff Alexander to ask questions or be overnighted with new bun flavors or LTOs.
“With traditional, frequent diners, they learn your name, what you like and treat you special,” Alexander told Nation’s Restaurant News. “There’s nothing like that in the delivery space… Now we’re looking to treat people the way they’re used to being treated. We want to reward you for being loyal to us…If you buy this $99 collectible, you’ll get benefits no one else gets.”
Although this is technically an NFT-based loyalty program, Wow Bao follows the trend of shying away from the Web3 terminology that has increased in popularity over the past couple of years. By not using the word NFT and by not requiring a crypto wallet to buy one of the CollectaBaos, you expand your potential customer base, Alexander said.
Wow Bao calls each of its NFT expressions “courses” and with each successive course new benefits will be added. Next on the menu could be Zoom cooking classes or special events, Alexander said. The potential direct line of communication with Wow Bao management is the virtual restaurant equivalent of the head chef coming over to your table in his cooks to check on how your meal is going.
“There is so much technology in this industry, and it has come at the cost of hospitality,” Alexander said. “We’re trying to bring hospitality into technology. Technology creates immediacy and personalization, but it doesn’t have to come with a loss of hospitality.”
Wow Bao’s NFT-based loyalty program launches on Wednesday, with the first batch of CollectaBaos going on sale this afternoon. The initial fee of $99 comes with a year-long subscription, and at the end of the year there will be a fee to renew to keep access to double points, discounts and ultimately personal benefits.
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