SBI Digital Community Co., Ltd., a branch of Japan’s prominent financial entity SBI Holdings, is excited to announce the public sale of its first-ever “Crypto Canvas Collection” NFTs. This sale will occur from October 12 to October 14, 2024, and will be facilitated through the “Bto3 ~ Web3 community ~” platform, which is dedicated to Web3 projects and operated by SBI Digital Community.
Why SBI Opted for Polygon and XRP Ledger
The “Crypto Canvas Collection” is designed to encourage collaborative storytelling on a digital canvas among community members. Each NFT in the collection is a distinctive, hand-drawn generative piece, as detailed by SBI Digital Community. This collection includes 3,000 unique NFTs, each priced at 0.025 ETH. To make this opportunity accessible to newcomers to cryptocurrency, credit card payments will be accepted during the public sale. The NFTs will be minted on the Polygon blockchain, and those interested can participate via the dedicated Discord channel.
Empowering User Accessibility
SBI Digital Community is committed to ensuring user accessibility in this venture. As highlighted in their official press release, “Bto3 offers support to assist even Web3 beginners in making purchases. For any inquiries, please reach out via the ‘support’ section in Discord.”
Exclusive Benefits for NFT Holders
Holders of the initial collection NFTs will enjoy a variety of exclusive perks. These include the chance to enter a lottery to win additional NFTs at any time, and access to a forthcoming NFT discount service usable at partner stores nationwide, expected to launch in the second quarter of 2025. Additionally, owning two NFTs grants holders an XRP Ledger (XRPL) version of the Crypto Canvas Collection, set for release in November 2024, along with automatic access to the subsequent NFT collection upon its debut.
Innovative NFT Discount Service
A key feature of this initiative is the NFT discount service, which aims to connect digital assets with real-world applications. NFT holders can enjoy discounts at participating stores simply by possessing eligible NFTs. The authentication process involves scanning a QR code at the store and linking to the user’s wallet. Customers then present the authentication screen to the clerk to receive their discount. Notably, this system requires no specialized Web3 knowledge from store staff. SBI Digital Community clarified, “Stores can implement this service without any prior Web3 knowledge, and it is free to use while accommodating customers seamlessly.”
Addressing Customer Management Challenges
The service utilizes the membership card functionality inherent in NFTs, addressing a common issue in customer management by enabling stores to verify current NFT holders without managing individual customer data. “Even if secondary circulation occurs through the blockchain, there is no need to manage customers, and it is possible to verify current NFT holders,” the company noted.
Revolutionizing Traditional Business Models
From a business model perspective, the NFT discount service represents a departure from traditional discount programs. There are no usage fees for stores, and users maintain the ability to trade their NFTs, creating a novel revenue structure that benefits both merchants and consumers. “Web3 has faced challenges in achieving mass adoption due to limited real-world applications. With this NFT discount service, we aim to promote widespread adoption and foster a mutually beneficial ecosystem for users, stores, and our company,” SBI stated.
Commitment to XRP Ledger Integration
By offering an XRPL version of the Crypto Canvas Collection to holders of two or more NFTs, SBI Digital Community is leveraging the XRP Ledger’s capabilities, renowned for its speed and efficiency in processing transactions. This decision underscores SBI’s ongoing commitment to integrating XRP Ledger technology into its blockchain initiatives. Notably, SBI is one of Ripple’s most steadfast partners.
At the time of writing, the XRP price stands at $0.53.
