SHOPX Announces New Products to Connect Brands to Web3 E-Commerce
The NFT-as-a-Service company offers a full suite of Web3-enabled solutions that work together to solve prominent issues for retailers
SHOPX, a company that gives businesses the power to create branded e-commerce NFTs to drive sales and customer engagement, today announced the launch of a suite of solutions designed to help companies create their Web3 marketing strategy.
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The SHOPX product suite is designed to help retailers benefit from blockchain technology, without the need for extra capital or robust development teams. These tools solve a wide range of issues created by centralized big tech which currently plague the commerce space, such as increasing marketing costs, decreasing brand control through product fraud and unauthorized resellers, and poor customer service experience. SHOPX users can interact with the services as easily as any of the popular e-commerce platforms available today while reducing fees and virtually eliminating middlemen.
SHOPX CEO and Co-Founder, Cyrus Taghehchian said, “I’ve been speaking to top brands for over ten years and they could not be more excited by the launch of SHOPX. Web3 and metaverse technologies have evolved to the point where customers expect more from their favorite brands and the overall customer experience. SHOPX gives retailers the Web3 tools they need to improve their bottom line and grow brand evangelists across the globe.”
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SHOPX’s product suite includes:
- MintX – Gives brands the power to tokenize their inventories as NFTs to connect them to Web3 technology. These e-commerce-optimized NFTs (eNFTs) function as certificates of authenticity, giving customers the power to prove ownership history and companies the ability to track transaction data throughout the product lifecycle.
- ReserveX – Allows retailers to create branded NFTs to sell to customers through a built-in storefront. This enables businesses to create more dynamic loyalty programs, offering exclusive access to spaces, events, and product drops while preventing bots and resellers from purchasing inventory.
- CommerceX – Takes the full, global inventory of eNFTs and connects them to a network of active affiliates in the SHOPX ecosystem, negating the necessity for third parties and removing the possibility of fraud in affiliate marketing.
The company also has long-term plans to develop and include additional product offerings that will create metaverse, inventory lending, and dispute resolution opportunities for retailers.
“Web3 is already creating a significant paradigm shift in the way customers purchase items and what they expect from their favorite brands, but oftentimes companies don’t know how to make that shift or think it requires a lot of internal resources,” said TJ Chang, COO and Co-Founder at SHOPX. “Never before have brands had the option to quickly access Web3 with the click of a button. SHOPX helps retailers create new revenue streams, reduce counterfeit and fraud, and grow their customer base in ways that were not previously possible in Web2.”
The official product launches will happen in Q2 2022 and SHOPX Labs will provide integrations to most major e-commerce platforms, starting with the Shopify app, and will soon expand to WooCommerce, BigCommerce, Magento, and other leading solutions in the space.
Taghehchian finished, “Many brands haven’t even begun to realize that Web3 needs to be a part of their marketing strategy, but by establishing SHOPX as the leading e-commerce utility, we will be equipping them with the tools they need to stay competitive in the market today, tomorrow, and in the future.”
