Liquid Avatar Technologies, a fintech and blockchain company has created the world’s first payment card designed specifically for the metaverse. The LQID card also doubles as a loyalty program, enabling customers to earn rewards on purchases of virtual goods and real estate.
The business expects that the “infusion of real-world functionality and familiarity in metaversal development” – especially, experiences in the company’s virtual assets – would lead to “more general acceptance of/participation in metaverse experiences.”
The card can’t be used across the metaverse as a whole
Because the card is a tangible thing, it can’t be utilized throughout the whole metaverse. Users will only be able to earn points while buying in the company’s ‘Liquidshopz’ and the Aftermath Islands Metaverse (AIM), a virtual world set to arrive in mid-2022. The LQID card is the first payment system to connect the virtual and real worlds, despite the fact that it can only be used in a tiny area of the metaverse.
It also marks Liquid Avatar’s attempt to set itself apart from other companies’ slices of the metaverse by tying it to a novel type of experience: paying for commodities and real estate using a tangible payment card. “We’re ecstatic to provide the very first payment card for the metaverse, which will really set Aftermath Islands unique,” stated Liquid Avatar CEO David Lucatch.
“These features and functionalities, in addition to the intriguing new Virtual Land and non-fungible token (NFT) prospects, will go a long way toward making Aftermath Islands the metaverse experience people will want to return to again and again.”
When a firm claims to be creating its own metaverse, like Liquid Avatar is with their AIM, it isn’t claiming to own the whole metaverse. The situation is a little different with Meta, which appears to be establishing itself as the metaverse’s apex.
Liquid Avatar hopes that the new card will drive consumer engagement and retention
The built-in loyalty rewards program on the new card is expected to boost consumer engagement and retention, according to Liquid Avatar. “The ability to accept traditional forms of payment – especially when combined with a loyalty program – lowers access barriers and distinguishes Aftermath Islands from other metaverse experiences that exclusively take cryptocurrencies,” the business argues. The card’s loyalty points can be applied to future purchases in the AIM.