The future of horological e-tail

Published in

GoBeyond.AI: E-commerce Magazine

5 min readJan 9, 2019

The world’s largest collection of watch brands. On the blockchain.

In early 2019, SOMA will introduce a better way for merchants, consumers, and watch aficionados to buy, sell, interact, and authenticate quality watches.

SOMA’s revolutionary model

At SOMA, we believe that social media and ecommerce belong together. Not one tacked onto the other as an afterthought, but fundamentally integrated. Nowhere is this marriage more needed than in the world of online wristwatch retail. So we built a social marketplace. Pushing the envelope even further, we built a provenance authentication protocol that fights counterfeits using blockchain-based proofs.

Watches: a social possession

Watch lovers have an insatiable need to show off their timepieces. Think about it: we don’t NEED to wear a watch, given the ubiquity of time displays across our innumerable electronic devices. Owning a watch, then, satisfies a different urge. We wear a timepiece on our wrist for one or more of three reasons: (1) we have a passion for the throw-back nature of watches and their mechanical precision & purity; (2) we wear a watch as a fashion accessory; and (3) we wear a watch as a status symbol. Usually, it’s a combination of two or more of these motivations. All three impulses have a social, visual aspect at their core.

The integration of social connectivity

If you love watches, collect watches, or sell watches, you’re probably active on Instagram, Pinterest, or Facebook. These visually-oriented platforms satisfy the above-mentioned horological urges, but fail in providing a seamless ecommerce experience. SOMA scratches the visual/social itch while allowing instantaneous transactions, recorded immutably on the blockchain.

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SOMA’s reselling feature

Extending social interactivity even further, SOMA members can act as ‘affiliate marketers’ for one another for commission. A seller can opt to enable the ‘reselling’ feature, after which another person can resell the item for a commission. Individual sellers can avail themselves of reselling if they choose; brands, however, can leverage its power to exponentially increase their distribution network…with virtually no additional administrative effort. Blockchain-based ‘smart contracts’ execute the payout of commission when a buyer purchases a product on SOMA. (more about reselling)

Fighting fakes with blockchain-based proofs

The Federation of the Swiss Watch Industry estimates that counterfeiters flood the watch market with more than 40 million fakes each year. Secondhand buyers navigate a minefield when trying to purchase a high-end watch. SOMA fights fakes with blockchain-based proofs, including photographic, video, and documentation-based evidence, timestamped and organized chronologically in an immutable structure.

Why you want to join the SOMA community

It’s the power of two-sided network effects: SOMA is collecting the most interesting brands across all pricepoints & styles. Divers. Pilots. Classic. Avant garde. Mimimalist. Maximalist. Sleek. Rugged. Customers want to be where the most and best watches are. As more members join, more brands will want to participate for access to that customer. Which brings more customers, and…you get the idea. This virtuous cycle is just getting revved up.

Shut up and let me join already!

So…we’re not actually functional yet. Expect a thriving marketplace to drop onto the horology scene in Q1 2019. Until then, we’re onboarding brand partners. Early partners get promoted heavily by SOMA, and will get first dibs at certain marketplace perks. If you’re a watchmaker or watch retailer, contact partners@soma.co to participate. Individuals may sign up at our Google Form for news updates and freebies (closer to launch we’ll be announcing some very nice giveaways).

Google form for user signup

This article originally appeared on the SOMA blog

The SOMA pilot program

Beginning Q1 2019, SOMA will become THE destination for watch companiesto sell their timepieces, and for consumers to purchase, share, and connect around a common horological passion. The social media aspect will allow members to visually flaunt, like, comment, and reshare one another’s watches, and also to build a following.

Getting on the SOMA platform

If you’re a watch manufacturer or retailer, contact partners@soma.co. If you’re an individual lover of quality watches, sign up here to be notified the minute we’re accepting registrations!

About SOMA

On legacy ecommerce platforms, anonymous usernames and depersonalized storefronts strip trade interactions of an important social element. Additionally, buyers lack a definitive way to ensure the authenticity of items. Enter SOMA. Our Heimdall Protocol stops forgeries and counterfeiting by validating ownership and provenance history on the blockchain. Social media elements bring personalization and interaction to trade, and allow users to monetize social influence, while a rewards system incentivizes beneficial collaboration. SOMA is a free-market ecosystem — free of market manipulation, price-fixing, gouging, and bloat.