Paper Title: Efficient Voucher Distribution and Non-Transferability in NFT Loyalty Programs
Conference Name: Korean Institute of Communications and Information Sciences (KICS Fall 2023) Conference
Abstract: In the context of Web 3.0, non-fungible tokens(NFTs) have revolutionized loyalty programs, offering unique incentives and enhancing user engagement. This study introduces an integrated approach that combines ERC-721A for efficient batch minting with non-transferable tokens, or Soulbound Tokens(SBTs), to create secure and cost-effective voucher systems for NFT-based loyalty programs. The system’s potential application extends to diverse industries, including tourism, gaming, and e-commerce. By incorporating role-based access control and optimizing with ERC-721A, the NFT Loyalty Program smart contract efficiently manages voucher creation and distribution while ensuring robust security. Moreover, this implementation results in a significant 83.27% reduction in gas costs, making it an attractive solution for loyalty programs in the Web 3.0 era.
Status: Best Paper
Conference Type: Domestic
Cite: Gifar Arif Haryadi, Muhammad Rasyid Redha Ansori, Jae-Min Lee, and Dong-Seong Kim "Efficient Voucher Distribution and Non-Transferability in NFT Loyalty Programs", Korean Institute of Communications and Information Sciences (KICS Fall 2023) Conference, Lahan Select Hotel, Gyeongju, Korea, November 2