Dog coins are crazy!!!
The bull market, constantly breaking imagination, is also constantly creating new concepts.
Of course for new concepts, most of them end up disappearing in the long history, and some of them stay to become hot spots or the next round of hot spots. DeFi, for example, germinated in the madness of 2017.
In 2017, there were quite a few blockchain + e-commerce explorations. 2021 has come and gone, and blockchain + e-commerce explorations have not been broken.
According to the results of CB Insights’ Market Size Assessment Tool, the global market size of the e-commerce industry will exceed $7.5 trillion by 2025. How can such a large online market be transformed with less blockchain?
Behind the data is the opportunity for blockchain technology to permeate all industries and create huge room for industry innovators to grow.
The hot spots of blockchain in 2021 and the direction of application are: DeFi and NFT. under the new application, Splyt started to engage in the combination of NFT + e-commerce.
I. What is Splyt
Splyt is a Layer 2 NFT underlying protocol based on polka that can be integrated with existing online e-commerce platforms. splyt protocol can transform goods from online e-commerce platforms into eNFT and share and sell them in other online stores (such as Opensea, Superare and other platforms).
Splyt is a Saas system that connects multiple e-commerce platforms for inventory management + multi-level distribution management, making multi-level distribution inventory more transparent and allowing brands to effectively evaluate the conversion of revenue from spending.
Splyt several features.
1) Provides plug-and-play services. This is very important to bring the technology to the mass market, so for large-scale changes to the application system, which very much affects the overall efficiency of the company, and plug-and-play services not only enable large companies to improve efficiency, but also allow companies to use the new technology in a timely manner.
2) Distribution reward automation. Splyt protocol will NFT the goods under the chain, and the NFT settings will include bonuses, once the NFT is sold, distributors at all levels can automatically get bonuses.
3) Tracking System: Splyt pioneered a secure, fraud-proof and tamper-proof online distribution tracking system.
In general, Splyt can be understood as a Saas system that can be integrated into existing e-commerce platforms, which can NFT off-chain products and achieve multi-level distribution tracking and automatic profit distribution through on-chain data.
What is the eNFT in Splyt?
Splyt’s eNFT is a tokenized representation of off-chain products mapped to the chain. eNFT differs from the concept of NFT in that it does not represent a digital asset, but rather a real-world item.
Brands and sellers can make their products into eNFTs containing metadata describing item attributes, profit share terms, affiliate requirements, and internal SKU or tracking data. eNFTs are broadcast to the Splyt network once created, thereby creating a blockchain inventory system that is updated globally in real time and tracked to all online stores.
Each item’s eNFT acts as a certificate of authenticity. If a buyer sells an item, eNFT updates and retains its purchase history, thus preventing counterfeiting and reselling. In addition, eNFT has a built-in commission, and affiliates do not need to negotiate a contract to list and sell products. When items are sold, they get paid immediately.
It can be said that eNFT not only simplifies the process of multi-platform affiliate sales and enables previously impossible lifetime product data tracking, but also eliminates the liability between e-commerce platforms and the supply chain.
Third, the eNFT play
Ideas are fine, but why use them?
Splyt incorporates the DEFI play in eNFT. eNFT can be used as collateral in the DEFI pool and verified by decentralized data. This is Splyt’s direction to break the circle, channeling some users inside the circle to the e-commerce platform, while the data generated from physical transactions outside the circle can be combined with DEFI’s TVL flow pool and so on. The consensus of the users inside the circle on NFT will be transferred to the consensus of the users outside the circle on commodities. Based on the transaction data of commodities under the chain, build consensus on ecological tokens.
Currently, Splyt has cooperated with Shopify and Maison Du. As the first use case, Maison Du aggregates the inventory of all participating brands on the chain to launch a 2,000+ strong brand community and e-commerce store in 2021, creating a next generation digital marketplace for the luxury e-commerce marketplace.
IV. Splyt’s Token Information
Splyt’s token symbol: SHOPX.
Total number of SHOPX tokens issued: 500 million.
- Token Fundraising
Seed round: $0.015, valued at $7.5 million, raised $500,000
Private Placement A: $0.025, valued at $12.5 million, $750,000 raised
Private Placement B: $0.035, valuation $17.5M, $0.7M
Public round: $0.042, valued at $21 million, raising $249,000
Seed round: TGE unlocked, 20% unlocked after one month, 8.88% unlocked every month after that, 9 months in total
Private Placement A: TGE unlocked 20%, 13% every month after that, 6 months
Private Placement B: 25% TGE unlocked, followed by 25% unlocked every month for 3 months
Public Offering Round: No lock-up
Initial circulation: $835,000
3、Use of tokens
1) Brands/online stores need to pledge tokens to use Splyt.
2）If the brand/online store wants to put more products on the shelves, they need to increase the amount of tokens held.
3) end users holding tokens can enjoy discounted prices and participate in various other activities, such as flash sales.
(4) You need to hold tokens to create Defi Pool: after the off-chain products become NFT, you can lend on-chain (30% of the product value), and if the lender cannot pay, the platform will sell the collateral quickly through flash sales to recover the goods and pay back the borrower.
V. Team and Investment Institutions
Cyrus Taghehchian: Co-founder and CEO of Splyt, a serial entrepreneur who has founded 6 companies, 3 of which have successfully received VC funding and one successful exit.
Lindsey Mallon: Founder of Maison Du, has over 10 years of experience in the fashion and luxury industry, and is extremely resourceful in terms of brands (1000+ different brands) and distributors.
Science has invested in notable projects such as Dollar Shave Club, and DogVacay.
In March, Spelt Core announced that it had closed an oversubscribed $350 million round, raising a total of $2.75 million. Notable participants include Master Ventures, Bigcoin Capital and Kyros Ventures.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/splyt-nft-e-commerce-is-it-an-extension-of-nft-or-a-new-way-to-play-e-commerce/
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