The d-commerce enabler is bringing on-chain to off-chain commerce to the metaverse for the first time with minimized trust.
Boson Protocol, a project that uses smart contracts to power real-world commerce, has signed a six-figure deal to purchase a plot of land in Decentraland, the decentralized virtual world governed by its users. The deal, which is the largest private LAND deal in dollar terms carried out so far in Decentraland (according to NonFungible), gives Boson Protocol full control over a premium block of land in the Vegas City gaming district.
In a major step toward bridging the gap between the metaverse and the physical world, Boson Protocol will use the land to create a series of experiences that demonstrate the potential of commerce that bridges the digital to physical divide. It aims to create a freeport in this area, where commerce and innovation thrive. Brands, artists, creators and sellers will be able to sell or reward players with their real-world products tokenized as Boson Protocol’s commitment nonfungible tokens, which players can then redeem in-store as real products in the physical world. Boson Protocol will be revealing further details about how it intends to develop the land in the coming months.
Speaking about the purchase, Justin Banon, co-founder of Boson Protocol, said:
“We have incredibly ambitious plans for the land. By providing the ability to buy something in the metaverse and then take ownership of it in the real world, we are enabling new and exciting experiences that encapsulate the possibilities of d-commerce, allowing brands to have direct contact with their customers without requiring intermediaries. There is an immense potential for commerce in virtual worlds and we look forward to bringing the decentralized autonomous commerce revolution to the forefront of the metaverse.”
Through Boston Protocol’s commitment NFTs, it allows for future trade commitments to be tokenized, enabling enterprises, organizations and customers to bridge the divide between digital decentralized technologies and the transfer and trade of physical goods. Boson Protocol aims to create a decentralized commerce ecosystem and enable the autonomous exchange of digital value for physical products and services, minimizing arbitration, cost and trust.
Agustin Ferreira, foundation lead of the Decentraland Foundation, said:
“The Decentraland Foundation welcomes Boson Protocol. We believe it will contribute to the development of the platform with its proposal to contribute to the evolution of decentralized virtual commerce. This purchase is a huge step forward, leading the way for other users in the metaverse and proving that the gap between the virtual and real-world is closing fast.”
This is the latest in a slew of high-profile announcements for Boson Protocol, which recently completed a $25.8-million public sale, having also successfully raised $10 million in private investment rounds and announced partnerships with companies including Ocean Protocol, Eidoo, Royale Finance, Gather Network, Bridge Mutual and Orion Protocol.
Justin Banon, co-founder of Boson Protocol, and Agustin Ferreira, foundation lead at the Decentraland Foundation, are available for interviews.
Senior consultant, Wachsman
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About Boson Protocol
Boson Protocol is a foundational primitive that solves the digital-to-physical redemption problem to enable decentralized autonomous commerce. Boson disrupts closed e-commerce platforms with an open, tokenized economy of things, powered by decentralized finance and Web 3.0 data.
Decentraland is a decentralized virtual social platform powered by the Ethereum blockchain. Within the Decentraland platform, users can create, experience, and monetize content and applications.