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BMW Rolls Out Blockchain-powered Token Rewards Platform in South Korea

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Tim Alper

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Tim Alper

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Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

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Last updated:

June 26, 2023

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BMW Korea has launched a blockchain-powered “lifestyle” platform that rewards South Korean car owners with tokens they can redeem against flight tickets and maintenance payments.

Per Aju Kyungjae, BMW Korea stated that the platform, named BMW Vantage, would be “launched on the global market” after its South Korean debut.

The motoring company stated that it would offer customers up to 900,000 “BMW Coin” tokens for vehicle purchase, offering double token payouts for the duration of October on selected BMW models – with larger payouts for newly released cars.

The firm added that even South Korean non-BMW owners could earn tokens “by participating in events or games” on the BMW Vantage app.

The company said its coins can be used “for all paid services” on its app, as well as with affiliate partners including the national air carrier, Korean Air.

And the firm claimed that the new platform lets customers book and pay for official BMW services such as the BMW Driving Center’s programs, maintenance services, airport services and other promotions – in addition to “discounts provided by a number of affiliates.”

The rollout follows a successful pilot for selected car owners, details of which were revealed in summer this year.

Last year, the carmaker also said that it was working with a number of rival motor firms on a blockchain-powered vehicle identification platform, with a global blockchain initiative for autonomous vehicles and other tech advances also in the pipelines.
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