On March 22, smart contract platform Avalanche shared the news with its Twitter community about brand management platform TYB (Try Your Best) joining Shopify’s app store.Avalanche-based TYB helps businesses grow by building long-term relationships with their customers by incentivizing them with blockchain rewards.
"TYB's approach is less about play in exchange for quick bonuses and more about cultivating relationships. By participating, customers are invited to influence brands, reaping long-term benefits," TYB's official website states.
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TYB's strategy is to grant ownership to customers with digital membership collectibles and introduce a system of rewards for different types of activities. In addition, the platform allows retailers to integrate metrics that track engagement activity with purchase statistics.
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According to Avalanche's tweet, such activities can be anything from simply purchasing the brand's products and sharing its social content to more advanced tasks like completing a gamified challenge.
This functionality is now available to retailers who use Shopify, and such popular brands as Topicals, LoverBoy, Body, and JuneShine have already started improving their customer relationship management with TYB.
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"This makes TYB the first community-powered end-to-end Avalanche-powered blockchain loyalty program to partner with Shopify. Brands on our platform will now be able to simply connect a TYB widget to their Shopify checkout experience enabling their brand fans to redeem a discount for all their efforts co-creating the brand: like referring their friends into the brand community, participating in product R&D, or creating and amplifying authentic UGC on TikTok," the TYB team said in its March 8 announcement.
Avalanche emphasized that the tokenized rewards brands can create with its platform are environmentally friendly. The platform also added that customers do not necessarily need a wallet to store their rewards, as they can use their email addresses instead. "This lowers the barrier to entry for Shopify creators and consumers alike, allowing them to take advantage of Web3 use cases through a smooth onboarding process," Avalanche said.
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"Tokengating is the next frontier of loyalty and buyer engagement, and we're thrilled to see TYB, founded by a team that has built multiple brands themselves, come to life for merchants everywhere," Shopify's Director of Product Alex Danco commented on the newly launched Web3 functionality.
The crypto community received the news with enthusiasm, praising Shopify for "doing their technical DD homework, unlike many Web2 companies," and expressing support for the progress Avalanche is making. Meanwhile, some retailers have already developed an interest in adopting a tokenized reward system.
