How Rewards 3.0 Solution Dominates in the Middle East

At the recent DTW, TM Forum’s flagship conference, Related unveiled Rewards 3.0, a breakthrough solution that is offered to simplify, amplify and monetise the ever-evolving loyalty & rewards ecosystem by harnessing the power of Web 3.0 and the metaverse. The product was showcased as part of a one-in-all solution in collaboration with industry leaders, including Netcracker Technology, Juniper Networks, Amazon Web Services (AWS), QONOQ, and notable telecom champions STC, Zain, du, NTT and SLT Mobitel.

From its early beginnings as a GCC-based entity to its meteoric rise on the international stage, Related’s story is a compelling narrative of innovation and visionary leadership — at the heart of its journey has been an unshakable commitment to be at the vanguard of technological advancements in the customer experience, Loyalty and Rewards programs.

Rabih Farhat, founder and managing partner at Related, said: “I’ve always believed that innovation thrives at the intersection of vision and technology. With the burgeoning metaverse and Web 3.0 landscape, especially in regions like the UAE and the broader GCC, the future of customer engagement is being redefined. At Related, we’re not just observing this shift; we’re actively driving it. Our Reward 3.0 solution is a testament to our commitment to pioneering and harnessing technological advancements to elevate brand and customer interactions in this new digital age.”

According to a recent report by PwC Middle East, the metaverse’s transformative potential cannot be overstated: by 2024, The entire metaverse valuation is expected to inch close to a whopping $800 billion worldwide, with GCC countries at the forefront. Cities like NEOM in Saudi Arabia are integrating metaverse components into their developmental blueprints, and the UAE is establishing the Middle East’s inaugural metaverse incubator, paving the path towards a metaverse-driven economic surge in the region. By 2030, the metaverse could contribute a staggering $15 billion to GCC economies.

As part of its award-winning submission at DTW, Related and its esteemed partners built a one-in-all solution showcasing how mobile operators can play a greater role in the metaverse and sit at the core of the monetisation game in the new world of WEB 3.0/metaverse.

With a reputation for boosting customer engagement by 35%, increasing brand loyalty by over 15%, and achieving a 92% customer satisfaction score, Related’s focus has always been on creating moments of happiness across consumer’s journey with the brand. It has also been instrumental in redefining loyalty programmes and customer engagement across the GCC and the Middle East.

About Rewards 3.0

Though the average consumer is a member of nearly 15 loyalty programmes, they remain active in a mere handful. This results in an astonishing 360 billion USD in reward points going unredeemed annually. Rewards 3.0 is an innovative solution that empowers brands and consumers to be part of a new engaging and profitable ecosystem. Anchored in Web 3.0 blockchain technology but delivered with the familiar simplicity of a Web 2.0 user experience.