- Arden partners with Sui Network to bring its gamified loyalty platform and rewards marketplace onchain.
- Sui Network’s speed and scalability enhance Arden’s consumer engagement platform, powering a global rewards marketplace.
Arden has announced a big development in its continuous efforts to transform consumer engagement. Sui Network has made an equity investment in the company, allowing it to adapt its revolutionary gamified loyalty-as-a-service platform and earned rewards marketplace to blockchain.
This agreement is a significant step forward for Arden, as it aligns them with one of the most promising blockchain networks in business today.
We’re thrilled to announce that Arden has received an equity investment from @SuiNetwork as we bring our gamified loyalty-as-a-service platform and earned rewards marketplace onchain. 🧵⬇️https://t.co/2eyGcFwooh
— Arden (@Arden_Labs) August 14, 2024
Arden Leverages Sui Network’s Advanced Capabilities to Boost Onchain Loyalty
Arden, as one of Sui Network’s first RFP awardees for “unlocking onchain loyalty” in the hospitality sector, stands to greatly benefit from this relationship.
Sui Network provides not only financial assistance, but also access to its enormous technical development resources, Web3 knowledge, and essential business development relationships in the loyalty industry. These resources will surely be critical in helping Arden realize its lofty aims.
The decision to integrate Sui’s capabilities into Arden’s customer engagement platform is crucial. Sui’s speed and low-cost infrastructure, even at scale, make it a great platform for administering and validating prizes, badges, achievements, and other items.
This collaboration is expected to improve the overall user experience, giving consumers a more efficient and smooth contact.
The integration of Sui’s sophisticated features, such as zkLogin, gas stations, dynamic assets, and programmable transaction blocks, will not only add considerable value to Arden’s existing platform, but will also fuel what is expected to become the world’s largest interoperable rewards marketplace.
On the other hand, Sui Network has been widely praised in the industry. According to a prior CNF report, one analyst lauded Sui’s performance, noting it was six times quicker than Solana (SOL).
The network’s scalability is particularly astounding, with studies showing that it processes 297,000 transactions per second, much above Solana’s capabilities.
Despite these technological breakthroughs, the value of Sui Network’s native token, SUI, has recently declined. At the time of writing, SUI is trading at around $0.8102, down 6.82% over the last 24 hours, bringing its market cap to around $2.1 billion.
This price volatility is most likely affected by broader market conditions, but the token continues to receive significant interest, particularly following the recent launch of Grayscale’s Sui Trust.
As we previously reported, the Grayscale Sui Trust, which invests in Sui Network tokens, has sparked widespread interest in the market. This new trust is currently accepting daily subscriptions from authorized individuals and institutional investors, which strengthens SUI’s market position.
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