Public market used the online retail event Cyber Monday to unveil its eCommerce flagship store. Thus, the team based in San Francisco has launched a so-called Holiday bonus prizes pool as part of the "Decentralize Your December" campaign.
Quite simply, Public Market serves as a protocol for e-commerce peer-to-peer and blockchain. The showcase of the public market launched today marks the first application built on this protocol; a significant milestone for the team, as well as Abundance Labs, a startup incubator based in Silicon Valley, which oversaw much of the development of the project then hidden in 2018.
The creation of the public market has been greatly supported by a nuisance with the increasingly exorbitant commissions charged by the incumbents of the oligopolistic online market sector such as Amazon, Alibaba and eBay. Further processing is Kjerstin (KJ) Erickson (CEO and co-founder), which stated the following in a Press release issued by the public market earlier today:
In traditional eCommerce, market operators like Amazon sit like an invisible hand at the cash desk, taking 15-40% of each purchase from sellers. By removing these fees, the public market improves margins for sellers and allows them to transfer most of these gains to buyers in the form of tokenised premiums. "
Patron's token for the pioneers of the public market
The aforementioned "Decentralize Your December" campaign, running today until December 15thth – was designed to encourage commercial activity in the public market shop.
In particular, every day the Holiday bonus prizes pool will distribute $ 5,000 of prizes (for example, $ 100,000 in total) to individuals based on how much they and their arbitrators (if any) spend in proportion to the gross volume of the public market goods (GMV) for that day.
Prizes accumulated by buyers will be redeemable for Patron token (PTRN), the Ethereum reward token that will serve as the lifeblood for the public market ecosystem. The PTRN token generation event (TGE) it is expected to occur next year.
It's Cyber Monday and the Public Market is OPEN FOR BUSINESS. Be among the first to support the future of fair and open trade by shopping for your holidays on https://t.co/lzetQGq3r8
– Public market (@PublicMrkt) November 26, 2018
Business partners, KOL again in the public market
The showcase of the public market has been launched with over 7.000.000 of goods for sale. They include partner traders who have made such a vast offer possible Valet market, Better World Books, is Record by post.
In an effort to raise public awareness, the public market team tapped the social networks of crypto-ecosystem influencers – such as Bill Tai (below) e The Bitcoin podcast network – making them take care of and sharing a collection of articles listed in the public market.
Here is a solid example of a decentralized consumer market powered by #Blockchain
Here is my collection of books for the public market #DecentralizeYourDecember
The value accumulates for buyers in tokenised rewards against commissions on Amazon. https://t.co/CaNjUvJUVh
– Bill Tai (KiteVC) (@KiteVC) November 26, 2018