WWVentures Partners with Boson Protocol: eCommerce Disruptor
We are thrilled to announce our partnership with Boson Protocol — an open tokenized economy for decentralized eCommerce.
Boson Protocol’s vision is to enable a decentralized commerce ecosystem by funding and enabling the development of a stack of specialist applications to disrupt, de-monopolize, and democratize commerce.
-Justin Banon, CEO of Boson Protocol
Behind Our Partnership
The eCommerce industry is projected to grow by an annual compounded rate of 14.7% over the next 7 years (source). In 2020, the US alone saw $800 billion spent by consumers online — a 44% increase from 2019. To call eCommerce a booming industry would be an understatement. When pairing these statistics with the recent boom of DeFi, the sky is the limit for growth and innovation in this space. The future of eCommerce is dCommerce (decentralized commerce).
Boson Protocol’s technology disrupts dCommerce by tokenizing things and their data in a digital market. At its core are the intersection of data, things, and money. This opens up a world of possible use-cases including:
- Open digital marketplaces where any thing can be offered, searched, and exchanged with minimized trust and cost.
- Enabling exchange tokens to be redeemed for real-world rewards directly from an exchange marketplace without touching fiat.
- Allowing NFT artists to offer physical twins of their artwork through NFTs redeemable for physical artifacts.
And that’s not all: A use case with endless possibilities is machine-to-machine commerce. Imagine if your smart assistant noticed you had plans to have friends over for the weekend, but your smart fridge indicated it was low on refreshments. So your smart assistant orders some refreshments from Amazon Fresh, ensuring they’ll be delivered on time. With Boson’s autonomous digital to physical redemption solution, this futuristic concept becomes reality. In dCommerce, the future is smart and decentralized, and Boson Protocol is building the brains behind it.
Boson Protocol Explained in 85 Seconds!
$BOSON token holders are rewarded in three distinct ways:
- Governance: $BOSON tokens are used by participants to govern Boson Protocol, ensuring consensus around critical decisions and the issuance of funds from the dCommerce DAO.
- Staking: By using $BOSON to make commitment deposits, Buyers and Sellers may reduce their network fees for coordination of transactions. This locks up $BOSON and reduces the circulating supply.
- Incentivization: $BOSON tokens are used to incentivize actions across the system in several ways (both on the demand and supply side and for data sharing).
At WWVentures, we believe in the financial revolution. As a major dCommerce disruptor, Boson Protocol is well-aligned with our values. The trust we hold in their long-term roadmap is at the core of our partnership. Have a look at what they’re building and imagine the future.
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DISCLAIMER: Content in this article does not constitute financial advice. Cryptocurrencies are volatile assets. Always do your own research and invest at your own risk.