AirAsia’s digital currency in 2023? New approach to rewards points based on Web 3.0

Exclusive: AirAsia digital currency in 2023? New approach to loyalty points based on Web 3.0.Source: AirAsia

  • AirAsia superapp CEO Amanda Woo shares with TWA how they plan to transform their entire traditional frequent flyer rewards system into a new web 3.0 based approach.
  • Set to be introduced next year, users will then be able to convert their reward points into “AirAsia digital currency”.
  • There are also plans to include NFT for the renewed approach to reward points.

Capital A, formerly known as AirAsia Group Bhd, takes it a few notches higher in strengthen its digital activitiesjumping on the Web 3.0 bandwagon by 2023. AirAsia’s superapp CEO Amanda Woo said it is currently working with a South Korea-based Web 3.0 producer to turn the entire business around of Capital A rewards, and this would include the introduction of tokens dubbed the ‘AirAsia Digital Currency’.

“We are currently working with one of the future biggest Internet 3.0 South Korea-based producers who are partnering with us to build our iteration of the third-generation World Wide Web,” Woo said. Asia technical thread in an exclusive interview recently. For context, AirAsia rewards points are currently purely a frequent flyer concept, which can be redeemed for free flights.

Now, Woo said Capital A plans to morph them, “gamify it or ‘pokémonize it in some way’.” “In six months, you will have your reward points which you can convert into tokens which we will call ‘AirAsia Digital Currency,'” she added. on their website shows that AirAsia Points can currently be used to redeem a variety of AirAsia reward offers ranging from dining, shopping, entertainment, services or even redeeming AirAsia flights.

How will AirAsia digital currency work?

AirAsia basically intends to change its reward system by creating “missions” to complete. “Example If today you are traveling from Kuala Lumpur to Bali, a trip from the city to the airport and vice versa, via AirAsia Ride, will earn you around 10 tokens,” Woo said, adding that if a user completes more than missions, maybe by visiting the best restaurant in Bali, they would earn another 10 tokens.

By combining these tokens, users can earn free seats on board or even exchange them for hot seats. “The same can be done to upgrade your airasia ride from a small car to a premium car – one of many examples of how we plan to overturn the whole traditional rewards system of loyalty,” Woo said. TWA.

The group is also looking to consolidate its Web 3.0 approach by including the use of non-fungible tokens (NFTs). “We will provide the ability to make NFT transactions through a chat space that we are creating within our community. For example, you chat with someone within the community and say ‘Hey, I want to buy the same shoes you have on your avatar ‘and you can use your token to transact,’ Woo said, noting that this will allow AirAsia users to get the full Web 3.0 experience.

Web 3.0 Discussions dominates the internet Since the pandemic, the third generation of the World Wide Web has captured the attention of many for being a network that provides decentralized, distributed, and global control of information. Woo noted that the renewed approach to their reward system will be applicable across Asean, in each country, AirAsia is present inby 2023.

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