Thread by @KryptoInsider1

Boson Protocol aims to establish a decentralized commerce ecosystem. In this thread, we will delve into what Boson is and analyze how it is building the infrastructure required to enable a new type of economy: 🧵🔽

$BOSON #BOSON $OCEAN @BosonProtocol @JBanon @trentmc0 @oddgems

1⃣ What is Boson Protocol?
Boson Protocol sets out to revolutionize e-commerce, by providing a solution that bridges traditional and digital marketplaces through a unique tokenization solution for product offerings and services.

The protocol is designed with modular components that allow for the tokenization of things, enabling smart contracts to perform on-chain financial transfers that can be coordinated with the off-chain of physical goods and services.

2⃣ What Problem does Boson want to solve?
E-commerce platforms dominate commerce, extracting excessive value and hoarding customer data while claiming customer centricity. This harms markets, supply chains, and economies, risking a monopolization by a few extractive forces.

3⃣ How does Boson Protocol solve this problem?
Boson Protocol allows for the tokenization, transfer, and trade of physical items through redeemable NFTs ( rNFTs ). As a decentralized fair-exchange protocol, Boson removes the need for intermediaries or trusted parties.

4⃣ What is a redeemable NFT?
A rNFT is essentially a forward contract for physical things, programmed within a smart contract. Like any other NFT, it can be held, transferred, and traded.

Using game theory and independent resolvers, Boson provides assurance to rNFT holders that they can either redeem their token for the physical item or receive a refund.

5⃣ Why is Boson beneficial to the metaverse?
Bridging the physical and virtual realms, Boson offers a seamless way to purchase physical items in the metaverse, powered by NFTs encoded with game theory. It connects digital assets to physical assets.

More details👇

By taking commitments from both buyer and seller in the form of deposits towards a product transaction, Boson aligns their incentives to ensure successful completion of all exchanges while resolving any potential disputes that may arise along the way.

More information👇

6⃣ Use Cases
Boson has several use cases in areas such as open digital marketplaces, crypto exchanges, token networks, loyalty and rewards programs, machine-to-machine commerce, i-gaming, physical twins, and gaming.

These use cases involve for example facilitating trustless transactions, reducing intermediaries, and increasing user-perceived and token value in various domains.

The image below provides some details👇

To showcase its abilities, Boson has also built a completely decentralized marketplace application (dApp) on which buyers and sellers can securely transact using only their wallets, without the need for intermediaries. Check this out 👇

https://twitter.com/BosonProtocol/status/1627654007123574785?s=20

7⃣ What is the Boson Token?
BOSON tokens gain value through a fee structure that is minimally invasive and facilitates transaction coordination. Additionally, value accrues when third-party entities pay for access to commerce data through the Boson Web3 data marketplace.

There are therefore two categories of utility; it coordinates buyers and sellers as well as unlocks value from commerce data. The 3 main functions of the token within the network are Staking, governance and Incentivization.

8⃣ Partnerships and Achievements
Boson has established several robust partnerships and received recognition through awards, exemplifying its success and growth. Some notable examples include:

✅ Decentraland
Boson bought a plot in Decentraland to create "Portal", a virtual mall using Boson Protocol for transactions. Players can buy digital assets to exchange for physical goods and services, bridging the virtual and physical worlds.

✅ Mastercard Start Path
NiftyKey, a loyalty rewards program based on NFTs that spans both the metaverse and the real world, is powered by Boson. This program has been selected for Mastercard Start Path, a global engagement program for innovative banks and fintech startups.

✅ Metaverse Fashion Week
Boson Protocol has forged partnerships with numerous major brands, such as Tommy Hilfiger, Hogan, Cider, IKKS, ANREALAGE, Deadfellaz, and 8SIAN, to sell physical products as NFTs within its metaverse marketplace for Metaverse Fashion Week.

✅ WEF Technology Pioneer
Boson Protocol has been chosen as one of the World Economic Forum's "Technology Pioneers", from a highly competitive field of hundreds.

This prestigious honor recognizes companies utilizing innovative technology that are on track to make an impactful difference in both business and society alike. Here is a list of additional partnerships and investors 👇

9⃣ Team
The team and their advisors are skilled blockchain specialists. Justin Banon, co-founder and CEO of Boson Protocol, has a background in physics, digital innovation, and cryptocurrency.

It is also interesting to note that Trent McConaghy from Ocean Protocol is one of the advisors who refers to Boson as the future Amazon for Web3 physical objects.

🔟 Conclusion
Boson is pioneering a new way to facilitate 'fair exchange' for the purchase and sale of physical assets without relying on centralized intermediaries.

Through this technology, physical assets can be exchanged with trust - something that was previously only possible through companies like Amazon. The project aims to tokenize all physical assets as NFTs, simplifying and reducing the cost of searching and exchanging such items.

Achieving this goal could revolutionize the global economy by introducing an entirely new model of commerce🔥🔥.

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