Lessons from what came before

Reddit Community Points

Reddit’s Community Points were tokens that members collected in their communities and could trade. In October 2023 Reddit said it would end them, explaining that “there was no path to scale it broadly across the platform” and that “The regulatory environment has added to scalability limitations”.^⁠[1] MOON, the best known of them, fell about 90 per cent, from $0.24 to $0.024, according to CoinGecko data cited by The Block.^⁠[1]

The lesson. Points that can be traded draw people who hold them in order to sell, and when the programme ends the loss falls on the holders. Here points cannot be traded, so there is no market to fall.

Starbucks Odyssey

Starbucks Odyssey gave members digital stamps, held as NFTs, for completing sets of tasks. Starbucks closed it on 31 March 2024, saying it needed to “prepare for what comes next as we continue to evolve the program”, and the stamps moved to Nifty, an outside marketplace.^⁠[2]

The lesson. Collectibles built to be resold did not suit a programme meant for everyone, and closing it left members’ stamps on someone else’s platform. Here nothing is a collectible, and the wind-down plan keeps points with the programmes that issued them.

Nike’s RTFKT and .SWOOSH

Nike’s RTFKT studio sold digital collectibles and announced in December 2024 that it would close.^⁠[3] Nike then set 5 May 2026 as the date its .SWOOSH site would be retired, and asked users to move their collectibles to another wallet.^⁠[4]

The lesson. When collectibles are sold and later switched off, the closing itself becomes the legal event. Nothing here is sold, so there is nothing to switch off at members’ expense.

Singapore Airlines’ KrisPay and Kris+

In July 2018 Singapore Airlines launched KrisPay, which it called “the world’s first blockchain-based airline loyalty digital wallet”, letting KrisFlyer members turn miles into KrisPay miles to use at partner merchants.^⁠[5] In 2020 KrisPay became part of a lifestyle app, Kris+. KrisFlyer miles converted into KrisPay could not be moved back, and stayed valid for six months.^⁠[6] Kris+ was still running in November 2025.^⁠[7]

The lesson. The scheme that lasted is closed, run by one issuer, and puts rewards in front of members rather than technology. This model takes the same approach: the ledger runs behind the programmes, and members see points and rewards.

Lufthansa Group’s Uptrip

Uptrip, launched in the spring of 2023, turned scanned boarding passes into collectible NFT cards that members kept in their own crypto wallets; “Complete collections can be redeemed for rewards” such as lounge access and upgrades.^⁠[8] In September 2026 a guide found “no statement or news on the further development of UpTrip”, and the marketplace announced for trading the cards had not appeared.^⁠[9]

The lesson. Real benefits (lounges, upgrades) did not outweigh the work of a wallet and a collecting game. Here there is no wallet, and points are simply used or converted.

Blackbird

Blackbird, a restaurant app, runs its rewards on its own blockchain, Flynet, released in February 2025. Diners collect its $FLY tokens at more than 600 restaurants, and “Users can buy more $FLY tokens with cash”. Its $50 million funding round in April 2025 included token warrants for the round’s backers.^⁠[10]

The lesson. Points that can be bought with cash, and promised to backers, raise the stored-value and securities questions this model is built to avoid. Here no one can buy points: not members, not programmes, not backers.

What went wrong elsewhere, and what this model does instead

A fair reading

Each of these schemes was a real attempt to give members more, and where one closed, its company gave its reasons in its own words, quoted above where they were published. This page draws only on published reports and passes no judgement on any company. Kris+, running since 2020, is the closest of them to this model.