BLOCKv up 491% following Visa announcement

BLOCKv surges 491% following Visa’s introduction of the web3 loyalty program with SmartMedia Technologies, the owner of the SmartNFT Protocol.

In a Jan. 4 announcement, Visa shared the news of a web3 loyalty engagement solution in partnership with SmartMedia Technologies, the web3 collaborator. The joint agreement is to modernize traditional loyalty programs by offering immersive experiences such as gamified rewards, augmented reality treasure hunts, and innovative ways to utilize loyalty points.

“This collaboration is not just about enhancing customer rewards; it’s about redefining the value exchange between brands and consumers in a mobile payments-first world,” SmartMedia Technologies chief executive Tyler Moebius said in a statement. “We are committed to delivering experiences that are as rewarding as they are engaging and relevant for today’s evolving consumers.”

Notably, SmartMedia Technologies employs the blockchain-agnostic SmartNFT protocol, a technology developed by BLOCKv, the company it acquired. 

In response, CoinGecko data highlighted that BLOCKv (VEE) rose to $0.01519, with a 24-hour trading volume of $4.7 million. This reflects a price surge of 491.4% over the last 24 hours and a notable increase of 397% over the past seven days.

With a circulating supply of 3.3 billion VEE, BLOCKv holds a market capitalization of over $49 million.