Jack Ma’s Alipay, a popular online payment platform, has joined hands with Avalanche to harness the potential of Web3 technology using its impressive smart contract blockchain platform. This collaboration between these two giants has introduced an innovative voucher program that aims to give a new experience to the tons of customers in Southeast Asian milk tea stores.
Avalanche’s collaboration with Jack Ma’s Alipay
On March 20, 2024, Avalanche published a report that Alipay’s ordering solution, Alipay+ D-store, alongside its partnered e-wallets, is now leveraging Avalanche for this innovative voucher initiative. Through an engaging mini-game, consumers can earn vouchers, which can be claimed via their e-wallets. However, these vouchers can help customers get extra discounts of up to 50% across more than 500 milk tea shops in Southeast.
However, this Avalanche collaboration with Alipay will be managed by its special blockchain service division called AvaCloud. This voucher marks a huge step towards integrating Web3 technology into daily transactions. The primary goal is to provide brands like Alipay with firsthand experience utilizing blockchain solutions to enhance user interaction, thus fostering customer retention and unlocking new revenue streams.
Additionally, this proof-of-concept (POC) initiative, is still in its early stages and aims to expand rapidly. According to the Avalanches’ report, they have a plan to reach over 2,000 stores and introduce vouchers for over 100 million users. The remarkable collaboration between these two giants highlights their effort to expand this ecosystem and collaboration with established brands.
AVAX price performance following collaboration
Besides this innovative collaboration in web3 landscape, Today on March 20, 2024, Avalanche’s AVAX experienced a massive price fall of over 10% in the last 24 hours. However, there might be a possibility that following this web3 integration with Alipay will help AVAX to surge in the coming days.
According to expert technical analysis, AVAX is consolidating near its resistance level of $55. If AVAX on the daily time frame gives a candle closing above $55, then in the coming day there is the possibility that it may hit the $66 level which is the next resistance level.
