Q1: Can you briefly introduce yourself ?
And also can you have a brief overview of the Boson Protocol project?
Hi, I am Justin Banon, Co-founder of Boson Protocol.
I started-out doing a physics degree and somehow ended up working for a company called Priority Pass. They sold airport lounge visits using paper and plastic vouchers.
I did a masters in digital business, quite early, and I had an idea: what if we digitise those vouchers in order to supply the growing demand for digital products. Well that turned-out to be a good idea because I grew the business, as MD, from $50m to a $1Bn revenue digital platform, and expanded into all sorts of products and services represented as digital vouchers.
Boson Protocol can be thought of as an extension to that idea. By representing any product, service or Thing as an NFT commitment for a Buyer and Seller to exchange digital value for a Thing at a later date.
Buit Boson’s vision is actually much bigger than that.
We are fighting against a dystopian future: // We do not want to live in a world where commerce is captured by a few extractionary monopolies who farm participants.
That’s why it is so important that Boson Protocol enables a decentralized commerce ecosystem where all participants share in the value they create.
And so our grand vision is: // to enable a decentralized commerce ecosystem by funding and enabling the development of a stack of specialized applications to disrupt, demonopolize and democratize commerce.
Q2: Boson Protocol A new DeFi project could allow smart contracts to buy physical goods, from a community perspective, can you explain specifically the working BOSON mechanism? How can an enterprise utilize BOSON technology integration through a DAPP that the project itself is establishing?
Well we are working on a number of applications.
One enables NFT artists and marketplaces to sell NFTs for physical items. So things like physical twins of artwork. Also, in-game NFT items which are trustlessly redeemable for real-world items.
Another application, Nifty Key, is a crypto native rewards program which enables crypto exchanges and credit cards to enable customers to buy or be rewarded with real world items via NFTs.
Q3: An important question about tokens, Are you implementing a token sale plan? What stage is it in? How have the seed rounds made? Also, let’s talk about tokenmetrics.What role will BSN tokens play on the BOSON PROTOCOL ecosystem?
How will NFTs tokens users earn it? And what is scarcity?
Token Sale- yes, we have a public sale planned for March.
We have had around 5 private sale rounds, the last couple closed in hours and were 40x oversubscribed. We have raised approximately $7.5m in funding so far.
$BOSON tokens accrue value from a minimally extractive fee for coordinating transactions
and when third parties access data via the Boson Web3 data marketplace.
This enables Boson to unlock two planetary-scale value pools:
As the global decentralized netwrok for dcommerce transactions
As a global data store for Web3 data.
$BOSON tokens are used to incentivize actions across the
system in a number of ways. Firstly on the supply side, $BOSON
reward supply acquisition via Aggregators and Sellers, and
supply quality via Curators. Secondly on the demand side,
Relayer marketplaces earn fees In Bosons to incentivize
distribution of inventory. Thirdly for data sharing, Buyers are
incentivized to share their data in return for an equitable cut of
the value it creates.
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 circulating supply.
1.How do holders of the $BOSON token benefit in the ecosystem? what power within the governance model do individuals hold? why is it so attractive and what are the basic requirements to participate?
Holders I have covered above,
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.
2.What is your plan for global expansion? At present, which market does Boson focus on, or is it focused on building and growing to gain customers, users and partners?
Then we are expanding to crypto rewards, loyalty, gaming and marketplaces.
Our go-to-market is trigger adoption and network effects ourselves, by building applications, whilst simultaneously driving adoption by finding an ecosystem of applications which we cam the dCommerce stack. This will be funded via the dCommerce DAO.
what do you think about Asian market ?
Well I previously lived in Hong Kong for ~3 years when I ran Priority Pass Group. So I know the region well and love it.
Boson’s foundation is actually registered in Singapore as well. Asia is a massively important market for crypto and for Boson, we will be leveraging our multiple asian investors and network to grow a very strong presence here. Plus my wife misses Asia very much, so I expect we will be here quite a bit.
3.Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and Investor to your platform and keep them long term?
Well, we have been pretty successful with our marketing strategy so far having been massively oversubscribed with investors, including some big asian investors such as Animoca.
We have also signed approximately 20 partnerships. However a big part of attracting users is our cryptoeconomic incentives. We have a stellar token engineering and ecosystem design team who are building a very compelling incentive structure to attract ecosystem participants.
hee’s a couple
more queued for announcment over coming weeks…
4.How do you think with Asia market? Does your team have any plan approach ASEAN which the potential market in crypto, there have many great teams and investors want work and earn money from crypto?
As I mentioned, I used to live in HongKong. I moved there to globalize the prority pass group. So I no ASEAN market well.
This region is v important to Boson, crypto and the ecnomy.
We will be leveraging our multiple asian investors and network to grow a very strong presence here.
Plus my wife misses Asia very much, so I expect we will be here quite a bit. I am looking forward to visiting vietnam again and tasting the delicious seafood barbeque
5.Every successful project has a few stories behind the scenes, what’s the story behind BosonProtocol success? What was that vision when it first emerged as an idea? Are there any special prototypes or upcoming BosonProtocol updates that you want to share with us
Well I covered the story and vision above.
We are about to launch- in a month- a peer-to-peer app which enables the restless trading of digital value for physical things. This will be used as part of our digital to physical art application in a couple of months time.
We then have an aggressive roadmap of protocol development including thing tokens which leverage Defi and many other developments.
Our plan is to build and fund a dCommerce ecosystem…
End of AMA Summary, Thanks Boson Protocol project for trusting and organizing AMA with us !!
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