SBI Digital Community Co., Ltd., a subsidiary of Japanese financial conglomerate SBI Holdings, announced the public sale of its first “Crypto Canvas Collection” NFT on Polygon and the XRP Ledger. The sale period will run from October 12th to October 14th, 2024, and will be held through the platform “Bto3~Web3 Community~”, which is operated by SBI Digital Community and focuses on Web3 initiatives.
SBI chooses Polygon and XRP Ledger
The “Crypto Canvas Collection” aims to foster collaborative storytelling among community participants on a digital canvas. According to SBI Digital Community, “Each piece is a unique hand-drawn generated NFT.” The collection consists of 3,000 unique NFTs, each priced at 0.025 ETH.
In particular, credit card payments will be accepted during general sales, lowering the barrier to entry for those new to cryptocurrencies. NFTs will be minted on the Polygon blockchain, and interested participants can access the sale via the Discord channel at https://discord.gg/bto3.
SBI Digital Community emphasizes user accessibility in this initiative. “At Bto3, we provide support so that even beginners of Web3 can purchase it. If you have any questions, please contact us through Support on Discord,” the company said in an official press release.
Owners of the first collection NFT are entitled to various exclusive benefits. Holders of one or more NFTs will be entitled to participate in a drawing to win additional NFTs at any time and access NFT discount services available at participating merchants nationwide starting in Q2 2025 . For every two NFTs held, owners will receive an XRP Ledger (XRPL) version of the Crypto Canvas Collection, scheduled for publication in November 2024, and will automatically receive the second NFT collection at launch.
A distinguishing feature of this initiative is an NFT discount service that aims to bridge digital assets and real-world applications. This is a service where NFT holders can receive discounts at member stores nationwide just by owning the eligible NFT.
Authentication is performed by reading the QR code displayed at the store and connecting it to the user’s wallet. The customer presents the authentication screen to the store clerk and receives the discount. Importantly, this system does not require Web3 expertise from store staff. SBI Digital Community explains, “Stores can install it without any knowledge of Web3, use it for free, and attract customers.”
This service leverages membership card functionality unique to NFTs. Addresses common challenges in customer management by allowing stores to verify current NFT holders without having to manage individual customer data. The company says, “Even if secondary distribution occurs due to blockchain, there is no need for customer management, and current NFT holders can be confirmed.”
From a business model perspective, NFT discount services are different from traditional discount programs. The store is free to use and users can still trade NFTs, introducing a new revenue structure that benefits both sellers and consumers.
“Web3 faces the challenge of delaying mass adoption due to lack of opportunities for real-world use.This NFT discount service will facilitate mass adoption and create a win-win for users, stores, and our company. We will continue to build an ecosystem of
SBI Digital Community leverages the power of the XRP Ledger, known for its speed and efficiency in transaction processing, by offering the XRPL version of the Crypto Canvas Collection to holders of two or more NFTs. This move represents SBI’s continued efforts to integrate XRP Ledger technology into its blockchain initiatives. In particular, SBI is one of Ripple’s most loyal partners.
At the time of writing, XRP was trading at $0.53.
XRP Price Below 0.236 Filib 1 Week Chart | Source: XRPSDT on TradingView.com
Featured image created with DALL.E, chart on TradingView.com
