LOYALTY NFT ENGAGEMENT SOLUTION

The present disclosure relates to a system and method of providing enhanced loyalty NFT engagement solution using Non-Fungible Tokens (NFT) and web3 technologies. The enhanced loyalty NFT engagement solution is provided by integrating a real-time transaction tracking system (offers platform) with a loyalty engagement solution to immediately engage users who make specific transactions. The method includes registering a user with a loyalty NFT engagement solution via a merchant program enabled with web3 mobile application. The user is registered using the user’s email address. Further, the user may opt-in to enroll the user’s payment cards with the loyalty NFT engagement solution. Upon enrolling the user’s payment cards, the user may receive campaigns and offers via the merchant program. When the user makes the specific transactions, the enhanced loyalty engagement solution may reward the user. The rewards may include rewards such as gift with purchase, digital mementos or receipts or follow-up offers or games

USAGE OF NFT AS AN INSTRUMENT OF STORED VALUE AT A PRODUCT LEVEL AND AS PAYMENT MEANS

The present disclosure relates to (1) a system and a method of using NFTs as an instrument of stored value at a product level, (2) a system and a method of processing of payments by a POS from an NFT-enabled multichannel wallet, and (3) a system and a method of processing of payments by the POS in a processing order set by a consumer in an NFT-enabled multichannel wallet. The first method discloses a consumer purchasing product values from a merchant. Upon purchasing, the merchant sends the NFTs to the consumer. In response to receiving the NFTs from the merchant, the consumer stores the NFTs in a web enabled payment wallet for future use. While shopping for goods, the consumer may purchase one or more goods at the merchant and may add it to a shopping basket. Among the one or more goods added to the shopping basket, some goods may qualify for NFT credit. At checkout, the merchant scans all relevant NFTs and reduces basket price and marks the NFTs as “redeemed” or may pay with an NFT-enabled wallet that may automatically deduct items having a valid NFT and marks the NFTs as “redeemed”. In the second method, payment at POS may automatically split tender between available eligible NFTs, default payment cards and other payment means like UPI, net banking, or cash. In the third method, the consumer may set order of preference of payment channels by merchant or by date. Depending on the preference and other settings set by the consumer, the POS may process the payment