Boson Protocol Launches Redeemable NFTs For Real World Assets

Boson Protocol, a Web3.0-based commercial marketplace has announced the revamping of its outfit for physical goods which it called Redeemable NFTs.


Through this offshoot, users of the Boson Protocol can get a tokenized version of a physical object which they can redeem many years afterward.

As detailed on the Boson Protocol’s webpage, its redeemable NFTs tokenize the right to the physical items rather than the items themselves. The protocol serves a number of luxury goods most of which are bound to increase in valuation over time.

“We’ve got a number of projects where they’re tokenizing luxury wine and luxury whiskey,” explained co-founder Justin Banon. “Someone will get a redeemable NFT that they can hold or trade for five or 10 years while the whiskey matures,” he continued, adding that “those sorts of items would create a commodities market for luxury whiskey.”

Innovators are making impressive strides to push non-fungible tokens to the general public with relatable products and services. The Boson Protocol’s approach seeks to enhance items that have digital twins in the metaverse, empowering more participation across the board.

NFT-related innovations are becoming commonplace in the Web3 world of today with many seeing that offshoot of blockchain technology as being crucial for the emerging metaverse world.

From users to investors, the focus on NFTs is going mainstream, and venture capital firms are committing funds to help build the infrastructure in the NFT world. While tokenization is just becoming a thing, a number of startups are focusing their innovations on building the Real Estate version to democratize the ownership of these luxury items.

Riding on the emerging digital economy which has taken center stage in many economies including Dubai and other parts of Asia, tokenization of real-world assets typically exposes them to additional markets beyond the items’ locality for easy and smooth global tradeoffs.

Image source: Shutterstock


Tagged : / / /

This Partnership Shakes up E-commerce with New Monetisation and Reward Mechanisms

Gather partners with Boson protocol to unlock new opportunities for consumers and businesses alike through integration with NiftyKey.

As the cryptocurrency space continues to mature, bridging the gap between mainstream commerce, consumers, and decentralized marketplaces is more important than ever in order to achieve mainstream adoption. Tired of intrusive experiences, consumers deserve to be rewarded properly for their data but, at the same time, businesses looking for a competitive advantage in an ever-crowded e-commerce space are looking for ways to capture their target market more efficiently.

With the attention economy bigger than ever, offering new ways for consumers to share in the value they create means heightened engagement, better retention for businesses and a positive result for all involved. Gather has joined forces with Boson Protocol to unlock a set of new opportunities for consumers, businesses and online publishers alike, through a mutually beneficial partnership that combines the power of monetisation, real-world and digital incentives, and processing power.

This exciting new partnership will see both projects benefit through Boson Protocol’s NiftyKey, a decentralized voucher marketplace and rewards platform that enables any business to tokenize sales of physical goods and services. NiftyKey equips commerce platforms with a rewards plugin that allows consumers to choose from a wide range of high-perceived value rewards all redeemed and delivered via NFT vouchers.

“We’re pleased with our partnership with Gather Network — it is going to allow people to redeem real-world rewards in a non-custodial, decentralized manner.” Says Justin Banon, CEO and Founder of Boson Protocol “This is a step towards our end goal, which is to develop a capture resistant dCommerce ecosystem where all participants share in the value they create.”

Processing power to the people 

By integrating Gather’s functionality within the NiftyKey app, users will now be able to generate revenue when they share their processing power. Also working in Gather’s favour, this additional stream of continuous processing power will also create a solid foundation for the Gather ecosystem.

“This collaboration will also allow Gather Cloud to add more processing power to its network and NiftyKey users will enjoy both $GTH & $BOSON global payouts where Gather Online is used. ” Reggie Jerath, Gather Founder & CEO

Rewards for both parties

Through the integration with Boson Protocol and NiftyKey, Gather will reward online publishers and also incentivize holders of the platform’s native $GTH tokens with the addition of a further layer on top of Gather’s existing loyalty program. Through Gather’s loyalty program, Boson Protocol will in turn be able to reward users of their NiftyKey application with the $BOSON native token and, by utilising Gather’s core product, the project is presented with the opportunity to create a continuous revenue stream for their ecosystem, simultaneously rewarding their users.

In a truly win-win outcome, this partnership looks to further disrupt e-commerce with mechanisms that reward all parties for their involvement in web3 and the decentralized commerce platforms of tomorrow. “By partnering with Boson Protocol & their one of a kind marketplace NiftyKey, we’re together challenging the old system to create a more secure, transparent and democratised internet, which is Web3” says Reggie Jerath.

Like BTCMANAGER? Send us a tip!

Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4


Tagged : / / / / /
Bitcoin (BTC) $ 37,829.14 0.33%
Ethereum (ETH) $ 2,028.18 0.60%
Litecoin (LTC) $ 70.05 0.69%
Bitcoin Cash (BCH) $ 223.14 0.26%