The Venture Tokenizing nontraditional assets: A conversation with Ascend Bit’s Brian Clark
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Mar 8, 2023 In this discussion, Brian Clark, Chief Product Officer of Ascend Bit—a Bangkok startup focused on blockchain innovation—shares insights on transforming loyalty programs through smart contracts. He explains the shift from traditional loyalty points to ownership models, enhancing customer engagement. The conversation also touches on the challenges and potential of Web3, emphasizing how technology can foster community ties and redefine the creator economy, providing artists with better ownership and transparency.
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Programmable Settlements Unlock New Partnerships
- Smart contracts enable transparent, programmable payout splits and instant settlement between parties.
- This removes bespoke negotiation friction and guarantees payment when preconditions are met.
Secondary Market For Loyalty Rewards
- Tokenizing rewards creates an on-platform secondary marketplace and visibility into asset flows.
- Brands can monetize unused rewards and track movement across customers.
Offer Turnkey Tokenized Loyalty
- Offer SaaS tools so smaller brands can adopt tokenized loyalty without large capital investments.
- Emulate large players' experiences but make them plug-and-play for fast followers.