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 extending its Web3 investment by upgrading its point-based rewards program called Bao Bucks to an NFT-backed loyalty program.
Customers will have the chance to purchase one-of-a-kind “CollectaBaos” (aka NFTs) designed by commissioned NFT artist, ManoverMars, aka MoM, from the first digital minting for $99 for the first year, and automatically become a part of Wow Bao’s new “Hot Buns Club.” The new loyalty club will come with perks like 10% discounts 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 mint its digital collectibles, and the NFTs are also being integrated within the company’s existing Bao Bucks rewards program powered by Paytronix.
For future mintings of CollectaBaos, the company will be playing around with new perks like members having direct access to Wow Bao CEO Geoff Alexander to ask questions or being overnighted new bun flavors or LTOs.
“With traditional frequent diner programs, 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 how they’re accustomed to being treated. We want to reward you for being loyal to us…If you buy this $99 collectible bao, then you’ll get benefits nobody else gets.”
Although this is technically an NFT-based loyalty program, Wow Bao is following the trend of shying away from the Web3 terminology that rose in popularity over the past couple of years. By not using the word NFT and by not requiring a cryptowallet to purchase one of the CollectaBaos, you widen your potential customer base, Alexander said.
Wow Bao is calling each of its NFT mintings “courses,” and with each subsequent course, new perks will be added. On the menu next might be Zoom cooking classes or special events, Alexander said. The potential direct line of communication with the Wow Bao executive team is the virtual restaurant equivalent of the executive chef coming over to your table in his chef whites to check how your meal is going.
“There is so much technology in this industry and that has come at a cost to hospitality,” Alexander said. “We’re trying to bring hospitality into technology. Technology creates immediacy and personalization, but that doesn’t have to come with a loss of hospitality.”
Wow Bao’s NFT-based loyalty program is launching on Wednesday, with the first batch of CollectaBaos going on sale this afternoon. The $99 initial fee will come with a yearlong subscription, and then at the end of the year, there will be a fee to renew to keep your access to double points, discounts, and eventually, personalized perks.
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May 17, 2023 at 09:56PM
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Wow Bao upgrades its rewards program to an NFT-based loyalty program - Nation's Restaurant News
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