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Coras has introduced FIDA, an infrastructure that allows brands to distribute their own loyalty tokens to customers when they buy their products or services.

Coras has integrated FIDA with its tickets API product. The initial token to be released is FIDA (FID), which customers can earn by buying tickets on Rakuten Tickets https://rakuten.co.uk/ticketing and selected Coras partners. The process is Buy Tickets, Earn Tokens. In addition, Coras has also launched a dApp where customers can exchange their tokens. The dApp includes liquidity provision and staking capabilities.

“The killer feature for consumers of tokens versus points is instant liquidity”

FIDA Co-founder,Mark McLaughlin, commented “Loyalty is the perfect product for onboarding consumers into Web3 as it is a better, more flexible, version of a product they already understand.

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The killer feature for consumers of tokens versus points is instant liquidity as tokens can be converted into other tokens or stablecoins and used to pay for goods and services

The advantages of decentralized loyalty tokens over centralized loyalty points for consumers include the ability to use them across different platforms, the ability to transfer them, and tokens that never expire. Prior to FIDA, it was costly and challenging for brands to create and manage a loyalty program. With FIDA, brands only need to mint a token using FIDA's token issuance and redemption infrastructure.

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