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This is a real email that a buyer received this morning, showing they earned $326.75 in rewards for buying a $60 rare record.

At the heart of what makes Public Market different is a belief that the value in a commercial exchange should flow between the buyer and the seller, not be captured by an intermediary. Our vision is for a public, open, decentralized eCommerce infrastructure that enables this flow of value.

A key mechanism of that value sharing is rewards. When you visit our newly-launched storefront and click on any item, you see two other numbers in addition to the price, both connected to rewards.

This post gives an overview of just what those numbers mean.

What are Buyer Rewards on Public Market?

Rewards are the way buyers get to capture the increased value of shopping with Public Market. Because of our zero commission fee structure, merchants don’t lose 15%-40% like they do when listing on centralized marketplaces, such as Amazon and eBay. They can pass on part of this savings to buyers in the form of credits for rewards. For example, when purchasing a $100 item with a buyer rewards level of 15%, Public Market will deposit $15.00 worth of reward credits to your account. Every item on public.market has a pink diamond with a number indicating the fixed value of rewards credits you will earn for each purchase. …

This holiday season, we’re betting on the power of crypto to provide real value to mainstream shoppers

We announced Public Market earlier this year with a very big mission: to end the era of extractive eCommerce monopolies. Since then, we’ve shared our beliefs around decentralized network effects and why many of today’s tech giants are more vulnerable to disruption than they seem.

At the end of the day, however, theories and ideas don’t topple monopolies: markets do. Specifically, market options that allow consumers to make different choices and receive more value.

For that reason, we couldn’t be more excited to announce the public launch of Public Market’s flagship storefront, just in time for Cyber Monday and the holiday shopping season. …

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Photo by Aaron Mello on Unsplash

At the heart of the Public Market protocol lies a concept that runs directly counter to today’s eCommerce marketplace models: open inventory information. In closed ecosystems like Amazon and eBay, inventory data is proprietary and leveraged to extract rent and exert price control. In Public Market’s open ecosystem, inventory data is public and shared across any storefront built on top of the protocol. Whereas closed inventory creates competitive moats and leads to less competition and higher prices, open inventory obliterates competitive moats and creates new incentives for competition that drives down prices.

What’s old is new again: marketplace models in historical…

About

KJ Erickson

Entrepreneur building the future of commission-free eCommerce at publicmarket.io. Stanford / Oxford/ Y Combinator. Founder, Abundance Labs & Simbi. Tweets @Kjer

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