• Foursquare, a location-based technology platform, announced a partnership with Constellation, a Web3 framework that allows users to build and conduct business on the blockchain, to provide insights on location-based data for restaurants and retail businesses in a privacy-preserving manner. 

• As part of the partnership, Constellation’s Dor Traffic Miner (DTM), a battery-operated device that you place in a doorway to count anonymous foot traffic data will be integrated with Foursquare’s Visits, a location-data solution for understanding target audiences, traffic patterns, etc. to provide insights on macroeconomic trends of consumer behavior and its impact on business.

• Foursquare claims that a key reason for its partnership with Constellation was the similar values they share in terms of customer privacy where Constellation’s DTM tracks foot traffic anonymously, while Foursquare Visits also anonymizes its foot traffic data.

<ul><li> Analyst QuickTake: As highlighted in our recent SPEEDA Edge insight on Web3 , decentralized storage solutions such as Constellations DTM offer a more secure way of gathering and storing customer data. The new partnership is likely to complement Foursquare’s solutions for advertisers in the retail and commerce space by providing an additional source of independent data on customer foot traffic. A case in point is its recent partnership with TikTok to measure in-store customer visits as well as its closed-loop attribution solution to a customer's purchasing journey.</ul>