Valley22 Whitepaper

What is a member token

Member token represents the identity of member.

Member token

Member tokens are a collection of ERC1155-standard tokens on Solana which represents a member’s identity and builds a relationship between a customer and a merchant. The merchant is not merely the place where people visit, relax, and imbibe, it’s a space where people enjoy their favorite meals, celebrate a big day and build connections with the owner or a fellow patron. It’s the place where people experience life.

Proof of Membership (PoM)

Member token is the interaction between the holder and the merchant in a web3 era. Token holders can enjoy special services through their proof of membership. As a customer, you can experience VIP-only service, earn more tokens through purchasing, as well as build strong relationship with the merchant. Karma lab aims to aid in building a consumer-centric experience in web3, assisting merchants in connecting to their 1000 most loyal members [1] and attracting new customers by providing the exclusivity of a unique, VIP member.
  1. 1.
    Present your membership token for VIP-only service
  2. 2.
    Earn additional tokens by eating and drinking at the participating merchants
  3. 3.
    Forge strong bonds with a favored merchant

Consumer experience with member tokens

Member tokens are non-fungible tokens (NFTs) representing a consumer's purchase history and loyalty to a particular merchant. With this NFT the consumer experience is as follows:
  1. 1.
    Customer arrives at the merchant.
  2. 2.
    Through presenting the member token, a customer can receieve VIP-only service
  3. 3.
    Purchasing or interacting with the merchant can create additional tokens.
  4. 4.
    Members tokens can be traded within NFT marketplaces.