BMW Plans To Launch Blockchain-Based Loyalty Program

The loyalty program development will happen in two phases. The blockchain technology will be integrated into daily operations at BMW as part of the first phase. The goal is to automate manual, time-consuming processes and streamline auto financial services.

For the second phase, Coinweb will develop a customized Web3 application to build the loyalty program. A rewards system will be developed using blockchain, and customers will be able to earn rewards by taking various actions. Customers will earn status and be tiered within BMW's ecosystem based on the loyalty rewards they have acquired. Customers will be able to use their rewards to purchase goods and services from BMW.

Companies that are leveraging blockchain technology to develop customer loyalty are starting to heat up. Starbucks is piloting an NFT-based rewards program that is highly anticipated in the community. Specifically within the automotive industry, Hyundai launched an NFT-based customer engagement program for its IONIQ 6 Electric Vehicle.