Traditional loyalty points are starting to look a little dated. Animoca Brands’ Moca Network—best known for building decentralized digital identity infrastructure—has partnered with Spree Finance to launch AIR Shop, a blockchain-powered loyalty platform set to debut in September 2025.

The pitch is bold: AIR Shop will let users earn on-chain rewards worth up to 30% of their purchases across merchants in travel, entertainment, and premium retail. Instead of the “collect and pray” points you get from airlines or department stores, AIR Shop promises rewards transparently backed by stablecoins—meaning no more devaluation surprises when a company tweaks its fine print.

Loyalty That Doesn’t Devalue Overnight

At the core of the platform is AIR SP, a new points system built on Spree’s Stable-Points architecture. Unlike traditional loyalty schemes where points often lose value over time, AIR SP will be pegged to USD-denominated stablecoins. Every reward is verifiable, transparent, and—at least in theory—protected from inflationary dilution.

For users, that translates into loyalty rewards that actually hold their value. For merchants, it’s a chance to plug into a growing network of blockchain-native consumers who expect real returns for their engagement.

AIR Shop’s Secret Sauce: Identity + Incentives

AIR Shop won’t just be another rewards wallet. It will integrate Moca Network’s AIR Kit, allowing users to verify their decentralized digital identities and instantly unlock tier upgrades across participating merchants.

That’s key: in a Web3 world, identity is the passport, and AIR Kit aims to unify user data across applications. Merchants and partners can then offer personalized incentives, discounts, and upgrades without the usual friction of onboarding or database silos.

The platform’s merchant muscle comes courtesy of BookIt.com, a travel and experiential rewards engine aggregating over 2 million merchants worldwide. BookIt brings the real-world commerce inventory, while Moca and Spree provide the infrastructure to make it programmable and verifiable.

A Different Kind of Loyalty Arms Race

Animoca Brands is hardly alone in trying to reinvent rewards for the blockchain era. Competitors like Bakkt and Stellar’s Soroban ecosystem have been exploring tokenized loyalty models. But the Animoca–Spree–BookIt collaboration adds a twist: chain-agnostic identity plus stablecoin-backed points, a combo designed to sidestep the biggest problems with legacy loyalty systems—opacity, fragmentation, and erosion of value.

Minh Do, COO of Animoca Brands, positioned the launch as a natural extension of the company’s mission: “AIR Shop ensures loyalty points maintain their real-world value, addressing the devaluation that plagues traditional programs.”

Meanwhile, Spree Finance co-founder Carter Razink cast the partnership as a step toward “programmable commerce”—where incentives flow seamlessly across ecosystems, not just inside closed platforms.

The Bigger Picture

If it works as promised, AIR Shop could be a Trojan horse for Web3 adoption, bringing millions of mainstream users into tokenized ecosystems without them ever needing to know what “DeFi” or “chain-agnostic” really means. To them, it’s just loyalty points that actually deliver.

And that may be the real disruption here. In an era where consumers expect cash-back, instant perks, and cross-platform utility, traditional loyalty schemes are at risk of becoming the Blockbuster Video of commerce incentives.

The September launch will be the real test: Can AIR Shop move loyalty programs from “earn and burn” to “earn and bank”?