We’re laser-focused on shopping and powering experiences that enhance the direct relationships between brands and shoppers.
SEATTLE (PRWEB) March 15, 2018
SHOP, the retail platform designed with cutting-edge blockchain technology, announced the acquisition of omnicommerce platform, Comrse, as well as the social retail app, Kanga (both of which were obtained using their own SHOP tokens), and e-commerce platform FoxCommerce, at the premiere tech-centered conference, SXSW. Kanga and FoxCommerce will be the first apps to run on SHOP's Blockchain protocol, giving shoppers across each platform access to the SHOP Token. SHOP is spearheaded by former Target retail innovation lead John Wantz and former Nike, Disney and Radio Shack marketing consultant and co-founder of art publication, Juxtapoz, Jamie OShea.
John Wantz is a serial entrepreneur that recently served in a leadership position within the innovation group at Target. Wantz believes that the future of consumer commerce will be won by protecting the direct relationships of Brands & Shoppers within a decentralized retail structure.
SHOP is the second startup founded & led by Wantz. His previous venture, Comrse (now part of SHOP) was a pioneer in Social Commerce, powering patented transactable commerce experiences on Facebook, Twitter, and Pinterest, enabling brands to connect directly with shoppers across the discovery funnel.
Jamie OShea began his professional life as a co-founder of influential countercultural art publication Juxtapoz before moving into the world of marketing to help brands better connect with youth culture, including Nike, Lance Armstrong’s Livestrong foundation, Coca-Cola, Levi’s, Radio Shack, and Johnson & Johnson. In 2010, OShea teamed up with Wantz to launch a digital agency that developed technology platforms and marketing initiatives for clients like Experian and Disney before the pair set aside the agency world to better serve brands through the development of new retail-centric tech platforms Comrse & SHOP.
SHOP CEO John Wantz says, “We’re laser-focused on shopping and powering experiences that enhance the direct relationships between brands and shoppers. SHOP is establishing a decentralized retail ecosystem where brands and shoppers have the power to dictate how value will be exchanged amongst themselves based on shopper-controlled access to their own personal data and appropriate rewards given by brands in return.”
Shoppers receive SHOP tokens from brands in exchange for sharing information such as consumer preferences, style profile, and purchase history. Tokens can then be used in return for discounts or other incentives. This allows shoppers to control their data and be directly rewarded for brokering it to brands during transactions. SHOP has scheduled a public sale of 100 million SHOP Tokens between May 14, 2018 – June 13, 2018.
SHOP CMO, Jamie OShea explains, “The SHOP token has been designed to support an ‘information marketplace’ that continually increases the amount of personal consumer data being shared between shoppers and brands. This equitable exchange helps brands deliver more meaningful retail experiences to shoppers while returning greater savings to them in the process. For shoppers, this is the first tool that empowers them to own and monetize their personal data, shifting that control out of the hands of third-party retailers like Amazon.”
The SHOP Wallet, which will be used to store/spend tokens and control brand access to shoppers’ personal data on various platforms across the SHOP landscape, is now live and available for use in conjunction with the Kanga platform. Kanga is a millennial-targeted online retail apparel startup, whose focus is on omnichannel and social integrations. FoxCommerce is an API-first retail platform providing scalable, flexible customization tools to market products. FoxCommerce was funded by notable VCs such as RoundCapital and SUSA. Comrse is an omnichannel retail platform that enables brands to move their eCommerce store into external environments like social posts. As part of their service neither Kanga or FoxCommerce accept merchant fees.
“Blockchain technology has the power to greatly improve many industries, and retail is chief among them,” explains FoxCommerce and Modcloth founder Adil Wali. “SHOP is well positioned to be a large part of the meteoric rise of decentralized technology. I'm very excited to work with the talented SHOP team to make retail more frictionless for shoppers and retailers alike.”
SHOP is a decentralized blockchain-enabled retail data marketplace that establishes a tokenized free market commerce landscape. SHOP lessens the grasp of third-party marketplaces by returning control of personal data to shoppers, reconnecting brands with their customers, and encouraging innovation.
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