Boson Protocol seeks to blend physical and digital marketplaces in the Metaverse

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Boson Protocol is a decentralized commerce protocol that aims to enable the sale of physical goods, services, and experiences in the metaverse as non-fungible tokens (NFTs), and hopes to provide an infrastructure layer for the exchange of assets of non-monetary value. For example, an NFT of a pair of sneakers purchased using the Boson Protocol in the Metaverse would then be redeemable for that physical pair of sneakers in the real world, and vice versa.

Ahead of launching his first Metaverse commerce experience at Decentraland, called Boson Portal, Cointelegraph spoke with Justin Banon, co-founder of Boson Protocol, to learn more about the company’s long-term vision and model. of business :

“Now it’s normal for humans to have a digital shadow, like a Linkedin or Twitter profile. And over the next couple of years, it will also be normal for physical and fashion items to have a digital twin. “

This notion of “twinning”, or that there is an NFT digital representation of every physical object or service, is at the heart of the Boson Protocol’s goal of being “a ubiquitous bridge between the physical and the digital,” according to Banon. .

That’s why Boson Protocol built Boson Portal to be a space, similar to a virtual shopping mall, allowing Decentraland users to browse virtual objects in the metaverse and then potentially receive the physical object at their doorstep.

The Portal is also a gamified space. Banon described it as an “experiential wonderland with quests”. Users can go to a brand’s store and choose to play a quest or a game. Prizes are NFTs and are considered hero items. Customers can either purchase these hero items at full price or play the suggested quest to purchase the NFT at a discounted price.

The BOSON token is the potential utility token for the protocol. The network has also established the dCommerce DAO with the intention of being a decentralized, self-sustaining, community-run organization that either reinvests its income into ecosystem growth or uses the income to redeem or burn BOSON tokens. In Boson Portal, a fee of 1 to 2% will be applied per transaction. These fees would then be recycled into the protocol and distributed to token holders.

“The key is that there is no middleman, no Amazon or eBay in the middle. These are all smart contracts coded with game theory. This means that no one takes a part of the middle.

Banon added that by working with trusted brands, users can trade in the Metaverse without worrying about losing their funds. In September, Boson Protocol acquired “The Glass Suit,” a million dollar Dolce & Gabbana suit that is also a chain NFT. The digital version of the suit will be hosted on the Boson Portal, while the physical object is expected to be on display in a museum. More and more major global brands are using NFTs to integrate fashion and the metaverse.

When asked about the value of trading in the Metaverse, Banon told Cointelegraph:

“It’s this next-generation interface. We tend to go for the more real things, rather than the low-fi versions. Why would you choose a 2D flat screen if you can be immersed in the same room as someone? ”

Banon confirmed that a Boson 2.0 protocol in development will allow brands to log into an ecommerce system like Shopify and then sell directly into the metaverse. And that the protocol plans to extend to other virtual worlds and even traditional video games, like Fortnite.

From Decentraland, Boson Portal aims not only to host retail spaces for brands, but also to have event space for conferences, art installations and cultural activations. Its first conference, called the Boson Forum, coincides with the portal launch on Thursday and will feature speakers covering topics related to Metaverse commerce.