Indosuez introduces NFT-based loyalty program Le Clu3

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Wealth manager Indosuez has introduced an NFT-powered loyalty program called Le Clu3, marking such a venture by a private bank.

Sia Partners’ digital design arm SiaXperience developed Le Clu3 tokens in collaboration with French Web3 platform METAV.RS. According to Indosuez chief innovation officer Lydie Percier, Le Clu3’s target audiences are tech-savvy heirs of the super-rich. It also aims to engage investors and emerging crypto entrepreneurs.

While similar loyalty programs have been adopted by fashion brands such as Lacoste and Louis Vuitton, METAV.RS co-founder and CEO Simon Foucher said the goal is to create a “strong community of next-generation clients” in the field of wealth management.

Members of Le Clu3 will receive a unique “soulbound” NFT, which provides token-gated access to exclusive sections of the Indosuez website. Once minted, these tokens are tied to the member’s wallet. Members cannot sell or transfer the tokens.

The decision to make the tokens non-transferable is tied to the bank’s security measures. It ensures that token owners are verified bank clients and prevents unauthorized access by non-customers, said Foucher.

The minting process of Le Clu3 tokens takes place on Polygon, an Ethereum scaling network. Holders can store them in both regular and cloud-based wallets. Indosuez follows a personalized approach and automatically sets up user wallets as needed, simplifying the onboarding process.

Unprecedented rewards, VIP treatment

In addition to the NFT benefits, ownership of the soulbound NFTs offers “money-can’t-buy” rewards and unprecedented experiences curated in collaboration with luxury partner brands.

While the specific partner brands remain undisclosed, METAV.RS co-founder Clement Foucher confirmed that the benefits would be aligned with the VIP treatment typically reserved for top clients of luxury brands.

This strategic partnership provides value to luxury brands. They can access a high-level customer base and, in turn, attracts more clients to Indosuez’s wealth management division. Foucher emphasized the significance of the guaranteed audience quality for the involved brands.

“Imagine the value for a luxury brand to get access to this kind of high-level customer,” he said.

Foucher noted that this partnership works both ways, as it also facilitates onboarding more clients of this caliber to the wealth management division.

According to Web3 media platform Blockster, the introduction of Le Clu3 marks a big change from traditional loyalty programs in private banking. This move shows Indosuez’s commitment to innovation and engaging with its clients through NFT.

In the future, additional soulbound tokens will be generated for participants attending events organized as part of Le Clu3’s ongoing program. Agathe Malinas, a partner at SiaXperience, said that the initiative marks the beginning of a “long-term story.”

METAV.RS helps brands manage Web3 strategies

A finalist in the 2023 LMVH Innovation Award, METAV.RS offers a white-label solution that enables brands to manage their Web3 strategies centrally. The platform focuses on enhancing the interaction between customers and high-end brands, focusing on Generation Z. Its clients include renowned companies such as Louis Vuitton-parent LVMH, Renault, Oetker Group, Michelin, Stellantis and Westfield.

METAV.RS assists these brands in engaging new audiences through tokenization, loyalty programs and immersive experiences. Earlier this year, METAV.RS developed limited-edition luxury tokens for Paris’ Le Bristol hotel.

These limited-edition tokens grant holders memberships of the hotel’s L’H3ritage Club. NFT holders get privileges, including access to the hotel’s secret menus and rooftop swimming pool.