Daily Markup #835: Grab launches Web3 wallet in Singapore, complete with NFT vouchers for rewards and payments

September 21, 2023 · 1 min read

Photo credit: Grab

Pocketful of vouchers

Here’s something we never thought we’d be doing with NFTs – earning rewards and using it to pay at Eu Yan Sang traditional herbal store!
500-backed superapp Grab launched its Web3 wallet in Singapore, hosted on the Polygon blockchain network. For now, the wallet supports two types of digital assets — digital vouchers, as well as collectibles from the SG Pitstop Pack, which can be purchased through smart payment app Fave.
The SG Pitstop Pack is an industry campaign with Grab, UOB and StraitsX, to test the feasibility of Purpose-Bound Money for programmable rewards as part of the Monetary Authority of Singapore (MAS)’s Project Orchid.
Inside the pack are NFT vouchers which users can use at Irvins, Mint Museum of Toys, Mount Faber Leisure Group, Jumbo Seafood, LAC, Eu Yan Sang, KOI, The Grande Whiskey Museum, DUCKTours, City Tour Bus, Andaz Singapore, Spinelli and myEureka.
Grab is looking to expand the Web3 Wallet’s range of supported assets and Web3 experiences in the near future.
Read the full feature here.

0

Share

• • • KEEP READING

Daily Markup #1121: Lingokids’ new learning experience prove 90% effective in improving children’s skill learning abilities

Play, learn, grow

November 21, 2024 · 1 min read

Daily Markup #1120: Qarbotech’s nanotechnology tricks plants into bringing big benefits to farmers, raising up to 10x return on investment

November 20, 2024 · 2 min read

Daily Markup #1119: RedDoorz helps young, budget-savvy travelers find accommodation across SE Asia; eyes 8,000 properties in 3-5 years and 2027 IPO

Budget travel boom

November 19, 2024 · 2 min read

Daily Markup #1118: YAS keeps Hong Kong travelers protected with real-time insurance coverage that grows with their spending on AlipayHK

Shop, spend, stay safe

November 18, 2024 · 1 min read

Daily Markup

All content herein is intended solely for general informational or educational purposes only. 500 Startups Management Company, L.L.C. and its affiliates (collectively “500 Global”) makes no representation as to the accuracy or information in this post and while reasonable steps have been taken to ensure that the information herein is accurate and up-to-date, no liability can be accepted for any error or omissions. All third party links in this post have not been independently verified by 500 Global and the inclusion of such links should not be interpreted as an endorsement or confirmation of the content within. Information about portfolio companies’ markets, competitors, performance, and fundraising has been provided by those companies’ founders and has not been independently verified. Under no circumstances should any content in this post be construed as investment, legal, tax or accounting advice by 500 Global, or an offer to provide any investment advisory service with regard to securities by 500 Global. No content or information in this post should be construed as an offer to sell or solicitation of interest to purchase any securities advised by 500 Global. Prospective investors considering an investment into any 500 Global fund should not consider or construe this content as fund marketing material. The views expressed herein are as at the date of this post and are subject to change without notice. One or more 500 Global fund may have a financial interest in one or more of the companies discussed

All users of this website should note these important Terms of Use governing the use of this website.