SHOP founder John Wantz, keynote speaker at PSFK's CXI 2018 conference, and CMO Jamie O'Shea introduce their new anti-Ama...
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View companies raising nowThis debt offering is suitable for sophisticated investors with knowledge of blockchain technology and the ability to assess its applications and their market potentials only.
SHOP is conducting this debt offering, with principal plus 20% interest payable by Tokens in lieu of cash, as per the terms of the SAFT Agreement.
Shoppers have few options to own and monetize their personal data online. Meanwhile, brands struggle to obtain this data from shoppers to use in developing better products and services to drive revenue.
Marketplaces like Amazon that refuse to share data with brands and instead leverage it against them to create competing products only compound the problem.
In the end, this inability for brands to easily connect with shoppers to directly acquire much-needed business intelligence hurts both shoppers and brands alike.
SHOP will be the first tokenized ecommerce ecosystem that returns personal data ownership to shoppers and empowers them to monetize it in direct exchanges with brands.
SHOP will provide brands with a system that looks like and works as easily as a loyalty rewards program while functioning like a retail data marketplace where shoppers broker their personal data with brands during transactions in return for immediate savings, discounts, and rewards.
SHOP is building a blockchain-based, smart contract-enabled ecommerce platform powered by the forthcoming SHOP utility token.
The SHOP Protocol will have a simple rest API that can be easily utilized by developers to build agile new SHOP-enabled DApps, DShops, and DMarketplaces to facilitate the rapid scaling and adoption of our decentralized ecosystem.
A utility token built on ERC20, the SHOP Token will work as a frictionless new payment method that will exchange shopper data for savings and rewards from brands during ecommerce transactions. SHOP Tokens will be easily combined with other forms of payment to act as a separate "rewards currency" layer to ensure brands can access shopper data within any transaction.
The SHOP Wallet will be a brand’s gateway to shopper data. It empowers shoppers to own and control their personal data via settings that determine how much information they choose to share with brands during transactions (and how much they will be rewarded by brands in return). An integration with the SHOP Wallet will give a brand full access to all the SHOP Token’s benefits in their online store and will unlock valuable shopper insights.
SHOP Tokens will be the currency of the SHOP ecosystem and fund all aspects of the platform, from backend API call micropayments to ecommerce transactions.
The SHOP Wallet will empower shoppers to collect their personal data across the web and control how much of it brands receive during transactions that include SHOP Tokens.
Spending SHOP Tokens will trigger pre-set data sharing, and shoppers will be immediately compensated by brands with more SHOP Tokens in return.
Kanga is SHOP’s own brand-direct marketplace featuring an array of millennial-focused brands, from streetwear to luxury, and no third party sellers. Built entirely on the SHOP Protocol, Kanga gives brands access to all SHOP ecosystem resources to drive sales across the platform and acquire the shopper insights they’re denied on centralizing marketplaces like Amazon.
SHOP's operating budget will be funded by the proceeds from all token sales undertaken to drive utility for the platform in addition to a 2.9% transaction fee collected on all fiat and token payments through the ecosystem.
SHOP’s addressable market is currently estimated at $460M for the US market, with a forecast increase to $560M by 2020. Due to its potential ubiquity as an empowering payment method and universal rewards points system, we believe SHOP has the opportunity to scale rapidly and gain traction as a viable wallet across the retail landscape.
SHOP has forged strong relationships with two Blockchain investment partners since February 2018, for a milestone-based investment total of $2.4 million USD.
Received a $2M, milestone-driven investment from Seattle-based Reflective Ventures.
Acquired leading-edge ecommerce platform Fox Commerce to provide SHOP-enabled ecommerce hosting for Brands.
Acquired Kanga, an emerging social commerce app that has been relaunched as a SHOP-powered brand-direct marketplace ensuring Day One utility for the SHOP Token & Wallet.
Acquired Comrse, an omnichannel commerce platform with proprietary technology around moving brand web stores into external environments like social posts and ad units.
Finalist at 2018 SXSW "Release It" pitch competition.
$25,000 first place winner of the Startup Pitch Competition at ShopTalk 2018, the largest retail convention in the world.
Finalist in the exclusive Sandcastles Startup Challenge at the World Tokenomic Forum.
Signed brand partners like Reconstruct Studio and Angie Bauer to offer Day One utility through the SHOP Protocol.
SHOP is organized and governed in a co-op structure. Every Brand and Shopper that accepts or uses a SHOP Wallet will be a member and together they’ll help guide the development and evolution of the SHOP platform
This co-op structure also ensures that SHOP will always be owned and managed by the Brands and Shoppers that use it, and that no massive marketplace or company can ever acquire or own it.
Simply put, SHOP is now, and will always be, for Brands and Shoppers, by Brands and Shoppers.
We believe the future of retail is decentralized and that shoppers should have the power to own, control, and monetize their personal data.
The control of global retail—and the brand & shopper intelligence that fuels it—by data-monopolizing marketplaces is an unsustainable model.
Today, the very marketplaces that serve brands leverage their own product and shopper intelligence against them to create competing products and capture market share.
By launching SHOP, we hope to return balance to the retail ecosystem and give brands and shoppers a platform to reconnect to drive revenue and savings.
SHOP was founded by serial entrepreneur and former Target Innovation leader John Wantz and a team of tight-knit retail and marketing professionals with decades of experience working with some of the biggest brands in the world like Nike, Disney, and Johnson & Johnson.
We understand the pain points inherent throughout the retail business and supply chain ecosystem and the threat posed by big marketplaces directly from the Brands themselves.
It is these hard-earned insights coupled with a personal drive to help shoppers reclaim and monetize their personal data that inspired us to build SHOP.
$1
The maximum valuation at which your investment converts
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1%
If a trigger event for SHOP occurs, the discount provision
gives investors equity shares (or equal value in cash) at a reduced price.
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$1.07M
SHOP must achieve its minimum goal of $100K before the deadline. The maximum amount the offering can raise is $1.07M.
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Crowd SAFE
A SAFE allows an investor to make a cash investment in a company, with rights to receive certain company stock at a later date, in connection with a specific event.
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Data in your SHOP Wallet will be encrypted and stored locally on your device, with the ability to be verified by the blockchain. All permissioned sharing of the data and transaction histories will be recorded on the blockchain for verification. This way, we limit sensitive data from leaving your control.
GDPR has been at the top of our minds! One important piece of GDPR is the consumer right to be forgotten. By itself, the blockchain doesn't solve for that need, because the blockchain is an immutable ledger.
The best practice in the field so far, is to keep identity information off the chain and use the blockchain to verify information accuracy (through mechanisms like zero knowledge proofs). In addition, the protocol will have to account for capabilities like data revocation.
We're still working through our concrete approach to these concerns and will have more details in the near future.
Not at this time.
Consumer data is the most valuable data that we can get, yet it’s the most ambiguous asset in any company. We are tokenizing that data, providing a fair price of that data to shoppers, and creating an ecosystem that allows for that value to be exercised.
The blockchain is an integral component that allows us to build the trustless accountability and data accuracy that will allow Shopper and Brands to participate in a fair exchange. The blockchain is only one component of the decentralized software stack that composes the SHOP protocol--an example of another non-blockchain component is distributed data storage.
Other platforms tend to focus on specific use-cases (i.e. mailing rebates, and shipping discounts) and often run on a private blockchain.
SHOP will be agnostic to the type of retail data it wants brands to permission. We are also working to have a partially public blockchain for payments. The reason being that we eventually plan on running a side exchange for brand-level custom tokens.
SHOP will set the compensation rate for Shopper data. When a shopper provides data, they will be compensated in SHOP tokens that can be used in the SHOP ecosystem.
Join the SHOP Co-cop and sign up for a wallet at the same time by visiting wallet.shoppers.shop. The co-op membership is a one-time fee of $4.99 that provides you membership to the co-op, voting rights in the co-op, and access to the wallet and all of its benefits for life.
The SHOP Wallet will store your SHOP token balances, provide you a way to earn rewards from the SHOP Co-cop, and will allow you to purchase products on participating marketplaces like Kanga. When you purchase a product that you find on a marketplace like Kanga, the SHOP wallet will facilitate your transaction with that marketplace whether you’re paying with traditional fiat payment or SHOP Tokens. Each individual marketplace will decide how SHOP tokens can be applied to final payment (i.e. Tokens could be worth 2x in value on certain days, or only be used to purchase products from certain categories or brands).
There are many different types of crypto wallets. MetaMask focuses solely on payment at the point of purchase by creating a crypto transaction between two parties. The SHOP wallet will fundamentally be a retail wallet. For this reason SHOP isn’t just concerned with the movement of money, but also with the data involved in getting a product from the Brand to the Shopper.
SHOP's smart contracts are currently in the process of being audited by a reputable 3rd party. We will be able to release the name of the party, and the results of the audit, once the audit has been complete.
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