SBI Digital Community Co., Ltd., a subsidiary of SBI Holdings, has revealed its first public sale for the “Crypto Canvas Collection” NFTs, which will be made available on the Polygon and XRP Ledger networks. This sale is scheduled for October 12 to October 14, 2024, and will take place through “Bto3 ~ Web3 community ~”, a platform dedicated to Web3 projects managed by SBI Digital Community.
Platforms Used for NFT Sale
The “Crypto Canvas Collection” aims to promote collaborative storytelling among users on a digital platform. Each NFT in this collection is described by SBI Digital Community as a unique, hand-drawn generative asset. The collection includes a total of 3,000 distinct NFTs, priced at 0.025 ETH each.
In a significant move, the public sale will allow credit card payments, making it more accessible for newcomers to the cryptocurrency world. The NFTs will be created on the Polygon blockchain, and those interested can join the sale through the dedicated Discord channel.
To enhance accessibility for users, SBI Digital Community stated, “Bto3 offers assistance so that even those new to Web3 can participate. For help, please reach out via ‘support’ on Discord,” according to their official press release.
Purchasers of the inaugural NFTs will unlock various exclusive privileges. NFT holders will have the opportunity to enter a lottery for winning additional NFTs at any time and can utilize a discount program applicable at partner stores, set to begin in Q2 2025. Furthermore, for every two NFTs held, owners will receive a version of the Crypto Canvas Collection on the XRP Ledger, with this being issued in November 2024, along with an automatic receipt of a second NFT collection upon its debut.
A notable aspect of this initiative includes the NFT discount program, aimed at merging digital assets with physical retail experiences. This service permits NFT owners to obtain discounts at participating businesses by simply retaining their NFTs.
Verification is conducted via scanning a QR code available at the store, linking to the user’s digital wallet. Customers present this authentication screen to a store representative to claim their discount. Importantly, no specialized Web3 knowledge is necessary for store employees to operate the system. SBI Digital Community stated, “Stores can utilize this service without any Web3 expertise, and it’s completely free to implement.”
This service also utilizes the membership capabilities inherent in NFTs. It looks to simplify customer management by allowing stores to confirm current NFT holders without the hassle of tracking individual customer data. “Secondary circulation via blockchain does not necessitate customer management as current NFT holders can be verified without effort,” the company highlighted.
From a business standpoint, the NFT discount service presents a fresh approach compared to conventional discount strategies. There are no costs for stores to participate, and users retain the freedom to trade their NFTs, creating a new revenue model that benefits both businesses and consumers.
“Web3 has struggled with mass adoption due to a lack of real-world applications. Through this NFT discount service, we aim to facilitate broader acceptance and establish a mutually beneficial ecosystem for users, retailers, and our company,” said SBI.
By offering the XRP Ledger variant of the Crypto Canvas Collection to those who own two or more NFTs, SBI Digital Community is taking advantage of the XRP Ledger’s rapid transaction capabilities, reinforcing SBI’s dedication to incorporating XRP technology in its blockchain strategies. Notably, SBI is recognized as a steadfast partner of Ripple.
As of the latest update, the price of XRP is $0.53.
