Using Unlock, Stakes provides restaurants with membership capabilities that spike lifetime value of regular customers
NEW YORK, March 14, 2023 /PRNewswire/ — Unlock Protocol, the NFT-based protocol enabling creators and brands to form direct relationships with their communities online, today announces an integration with Stakes, the customer loyalty platform that enables hospitality businesses to develop stronger, direct relationships with their best customers. Together, Unlock and Stakes are making it possible for restaurants to sell memberships to their best customers, unlocking perks like last minute reservations, premium tables, access to secret menu items, special events like wine tastings, cooking classes, performances and more.
Stakes helps restaurants build a direct relationship with their best customers so they can treat them like “owners” and motivate them to visit more frequently and enjoy an elevated experience. This integration will unlock future capabilities like menu voting, exclusive tastings, referral bonuses and so much more. Using Stakes, restaurants can boost the lifetime value of their customers by providing them a unique experience that keeps them invested in the brand and coming back for more!
“Until now, it’s never been possible to build a tangible, direct relationship with customers beyond the in-person recognition that we all feel when we go to our favorite restaurants. With Stakes, we’ve created infrastructure that connects restaurants directly with their most valuable customers and enables them to provide unique experiences that foster deep engagement and loyalty,” said Alan Pearlstein, CEO at Stakes. “By building on top of Unlock Protocol, we were able to bring this vision to life in record time and our customers have been blown away by the results.”
“What Stakes is doing is why we built Unlock. There’s so much possibility and untapped value in providing the infrastructure for customers to more deeply engage with the brands they care about and create community,” said Julien Genestoux, Founder of Unlock Protocol. “Instead of relying on email lists and social media posts, restaurants (and any other brands) can now connect directly with their customers and use this infrastructure to go beyond where they are stuck today — discounts and coupons and that’s about it — and move past the coupon code and into meaningful, tailored, amazing experiences.”
The process is simple. Customers purchase a membership to their favorite restaurant using crypto or a credit card, and customers mint an NFT that either goes directly to their wallet or is custodied by Stakes. When the customer books a reservation, the system automatically recognizes them and unlocks the perks of their membership. When they arrive at the restaurant, the staff can tell it’s a member reservation and they can provide a premium table, free drinks or desserts or the infinite other possibilities this infrastructure provides! Additionally, the membership NFTs provide a touchpoint for restaurants to reach out and engage their best customers by inviting them to special events, to vote on holiday menus, and offer just about any other perks imaginable.
“Figuring out how to get the most lifetime value out of customer acquisition cost is the holy grail of running a business and Stakes memberships give restaurateurs and hospitality companies a new way to expand that metric,” said Alan Pearlstein of Stakes. “Restaurants using our platform have reported some really exciting outcomes and we are just getting started with what’s possible!”
Unlock is building the web’s new business model by enabling new ways for creators to monetize their content through a decentralized, access control system. Unlock’s solution is an open source, Ethereum-based protocol that streamlines membership benefits for online communities by giving creators control over subscriptions and access to their content, without any middlemen. The Unlock Protocol can be applied to publishing (paywalls), newsletters, software licenses or even the physical world, such as with transportation systems. The web revolutionized all of these areas – Unlock will make them economically viable.
Stakes is a new Web3 platform for restaurants, pubs and local hospitality that reimagines loyalty through membership and ownership. Stakes enables any restaurant to create and operate a membership club that offers customers an enhanced dining experience including exclusive perks and benefits. Stakes is creating a new revenue opportunity for restaurants to build a direct relationship with their best customers, motivate them to visit more frequently and bring more friends and associates to the restaurant.
SOURCE Unlock Protocol