Moca Network, a decentralized digital identity initiative by Animoca Brands, has launched a verifiable loyalty platform developed with Spree Finance and SK Planet.
Decentralized identity for millions of users
Moca Network, a decentralized digital identity initiative by Animoca Brands, has launched AIR Shop, one of the world’s first verifiable loyalty platforms. Developed in collaboration with Spree Finance and Korean technology leader SK Planet, AIR Shop aims to transform traditional rewards into transparent and interoperable Web3 assets.
This partnership marks a significant milestone as SK Planet adopts Moca Network’s enterprise-grade decentralized identity infrastructure. SK Planet, operator of OK Cashbag, Korea’s largest integrated rewards service, is integrating AIR Identity, Moca Network’s flagship digital identity protocol.
This integration enables verifiable identity services secured by zero-knowledge proof technology for OK Cashbag’s 29 million users and 95,000 merchants. The system supports high interoperability across platforms while ensuring data sovereignty for users.
“By partnering with Moca Network to launch AIR Shop, we are able to extend our ecosystem to Web3 while continuing to deliver even greater value and exciting experiences to our millions of users,” said Kyosu Kim, Chief Business Officer of SK Planet.
Users can earn rewards worth up to 31% of their spend, depending on their membership level. Points are designated in AIR SP, the platform’s stablecoin-backed loyalty points system, and can be redeemed and spent transparently on-chain.
Kenneth Shek, Moca Network’s project lead, said: “AIR Shop represents a new era of verifiable loyalty. We reward users accurately while preventing reward abuse and giving users ownership of their data.”
Driven by new standards and privacy demands
Sheku explained that verifiable loyalty programs differ from traditional programs in that their status and rewards are globally recognized and widely trusted. Through verifiable credentials, users can carry their loyalty identity across multiple platforms and merchants, turning previously siled points into interoperable on-chain assets.
“What makes AIR Shop even more powerful is the use of stablecoin-backed rewards,” Sheku added. “Unlike traditional loyalty points, which fluctuate in value or expire, these tokenized rewards give users peace of mind that the value they earn will be retained for a long time.”
Shek cites two main reasons for launching AIR Shop now. That’s the growing adoption of decentralized identifiers and verifiable credentials as authentication standards across governments, businesses, and the blockchain ecosystem. Changing consumer expectations regarding data privacy.
“People are currently very reluctant to share their personal data with centralized platforms unless they see a clear benefit or have control over their information,” Sheku said. “Verifiable identity solutions make it possible to prove your identity without exposing sensitive information, in line with our privacy-first philosophy.”
