Boson Protocol and Outlier Ventures Identify Essential Core Components of Decentralised Commerce Ecosystem

Commenting on the release of the report, Justin Banon, CEO and Co-founder of Boson Protocol, said, "When we founded Boson Protocol, I wanted to build a system that would take the services provided by eCommerce monoliths and break them down into basic elements, which would create an entirely new decentralised commerce network that is more equitable, less beholden to behemoths like Amazon, and more competitive for consumers. Building out a collectively maintained infrastructure made up of smaller, composable services for commerce, we are now ready to make this theory a reality."

With interest in NFTs growing rapidly in recent months, the report pays homage to the potential of NFTs to change the way we do business. Allowing for the creation of tokenised commitments from buyers to sellers, instead of goods themselves, NFTs facilitate atomicity in dCommerce. These commitments can be thought of as futures contracts for goods or services, programmed within commitment tokens. This report concludes that NFTs can be used to escrow the buyer's payment and two-sided deposits upon both parties' commitment to transact, which ensures that any trade that occurs in a dCommerce ecosystem proceeds as intended due to the fact that both parties have something to lose.

Recognising the importance of collaboration, the report also calls for the collective innovation of the below stakeholders to facilitate the creation of the building blocks of decentralised commerce:

Jamie Burke, CEO of Outlier Ventures, said, "Boson Protocol is the cornerstone of a dCommerce stack, in the same way stablecoins were to DeFi. Their novel exchange mechanism allows for the first time digital-to-physical exchange to be possible, at scale, and it is one of the reasons why we became their first investor back in 2019. Working to build a commerce bridge between the metaverse and the physical world, this paper is Boson's vision for how we can collectively make dCommerce a reality and it is an invite to a universe of academics, innovators, entrepreneurs, and investors to mobilise and make this happen without the need for central coordination."

Earlier this month, Boson Protocol successfully concluded its public sale, having raised $25.8 million, making $36m the total amount raised by the project — one of the largest raises of the year by a company operating in the NFT space. The company has also made waves through a variety of partnerships with leading industry players such as Ledger, Ocean Protocol, Eidoo, Royale Finance, Gather Network, Bridge Mutual, and Orion Protocol.

About Boson Protocol

Boson Protocol is a foundational primitive which automates digital to physical redemptions to enable decentralized autonomous commerce. Boson disrupts e-commerce platforms by tokenizing things and commerce data within a liquid digital market, built on DeFi.