Idea & Token
Shopin has decided to compete with such online commerce giants as Amazon, eBay, and Alibaba and create a decentralized shopping platform that has a number of useful features for both shoppers and retailers. As you keep purchasing some goods or services online, the information about your shopping activity is diversified across different online platforms. This purchase history is valuable both for you – because stores could offer you only those products and services that best match your needs or taste – and for retailers, because they could use this information for more targeted advertisement and offerings and therefore get more profit. Shopin is using blockchain technology and AI to create a platform where retailers become stronger by working together and shoppers get excellent targeted recommendations, easy and secure transactions, and token rewards for giving access to the shopping history. Every retailer that comes to the platform brings its database of shoppers that can be used by other retailers on the platform. This way as time passes every shopper gets his/her own Shopin profile. The more information in the profile, the more efficiently this model works.
Shopin has proved its efficiency while working with Bed, Bath and Beyond and Ermenegildo Zegna. Both shops suggested their customers to create Shopin profiles. The results: 700+ thousand profiles, a 22% lift in conversions, $14.7 million in additional sales, 72,000 shoppers invited 65,000 new users to the platform.
Their ERC-20 utility token called Shopin will be used to manage incentives offered by retailers. Shoppers will get tokens for providing access to their purchase history data and will be able to spend the tokens in any of the shops registered on the platform. A total supply is 1.5 billion tokens, 33% of them is for sale. The main distribution points: 33% – Sale, 33% – Partner and Community, Incentives, 24% – Team, 5% – Seed Investors and Advisers.
The Shopin team consists of 13 professionals bringing over 15 years of experience in successful e-commerce startups, user profiles and behavioral marketing solutions. In the past, the core engineers of the team built the entire Priceline system from launch. The company CEO and CoFounder Eran Eyal is a winner of the United Nations World Summit Award for Innovation, has more than a decade of experience in retail and e-commerce. The other team members bring wealth of experience in business development, startups launches, marketing, and international communication. Add here 16 advisors (a bit too many from our point of view), specialists in business development, blockchain, investors.
In general, the project looks excellent. They won a number of ICO awards, conducted a successful pre-sale, the project is being led by a strong team bringing a solid experience in the same field and has an advisory team fully packed with serious entrepreneurs from around the world. Partnerships are promised to be announced soon. The recently conducted pilot campaign has clearly shown the team is going right way. If they implement the product of decent quality and manage to achieve mass adoption, the project will bring lots of opportunities to retailers and a new personalized shopping experience to the shoppers.
Do you think a new Amazon is possible? Have doubts? Shopin is a project aiming to leverage the blockchain technology to compete with e-commerce giants. And they do have a good chance for success.
Shopin ICO datesexport to calend
Shopin unites retailers and their customers through personalized data intelligence for an unprecedented shopping experience. We are creating a more sustainable retail economy where retailers become stronger by working together and shoppers get rewarded based on the value of their data that they fully own, control, and can share.
Revitalize the retail industry with a new economy of data to increase transactional conversions.
Enable a greater understanding of customers based on a full view of their purchase history, style, preference, and pricing.
Give back to the Ethereum community for continued and sustainable growth.
Exchange fair value to shoppers for access to their data via cryptocurrency.