CommPRO.biz Editorial Team
Celebrating Cyber Monday, Public Market announced the public launch of its flagship tokenized eCommerce storefront and the “Decentralize Your December” campaign, in which customers can earn Holiday Bonus Rewards – $100,000 over 20 days – with every purchase.
Public Market offers a new approach to eCommerce that removes the transaction fees common to other marketplaces like Amazon and eBay and passes those savings on to consumers in the form of blockchain-based rewards tokens.
“In traditional eCommerce, the marketplace operators like Amazon sit like a grabby invisible hand at the till, taking 15-40% of each purchase from sellers,” said KJ Erickson, CEO of Public Market.“By removing those fees, Public Market improves margins for sellers and allows them to pass most of those gains to buyers in the form of tokenized rewards.”
When a customer views an item on the Public Market storefront, they see not only the price but the value of the rewards they will receive. For example, a customer buying a 5.11 RUSH12 Tactical Backpack for $99.99 will receive credits for $15.00 in rewards. The Public Market system tracks buyers’ total rewards, which will be distributed upon the anticipated launch of the company’s Patron (PTRN) token in 2019.
As a special promotion, during the Decentralize Your December campaign, users will receive additional Holiday Bonus Rewards with each purchase.
“As an incentive to our early adopters and to help build our community of shoppers, we’ve set aside extra rewards in a Holiday Bonus Reward pool,” said Public Market CEO KJ Erickson.
“Each day, users will be allocated a portion of that bonus pool based on the percentage of the day’s total gross merchandise volume (GMV) represented by their own purchases and the purchases of anyone they referred. With a Holiday Bonus Rewards pool equivalent to $5,000 per day – or $100,000 in total! – this could mean that the earliest buyers may take home more in rewards than they spent on holiday gifts.”
The Public Market team has enlisted the help of friends and prominent members of the cryptocurrency and blockchain community. These individuals include media producers, investors and entrepreneurs like prominent venture capitalist Bill Tai, popular media outlet The Bitcoin Podcast Network and more to be announced.
Each of these influencers will curate a personal collection of goods from the 7 million items currently available on Public Market, including used books, vinyl records, consumer electronics, outdoor gear and more.
Public Market’s first merchant partners include Marketplace Valet, who bring more than 20+ categories including consumer electronics and outdoor gear, used book giant Better World Books, and the internet’s premier vinyl record merchant, Records By Mail.
“We are honored to be among the first merchants to sell on the Public Market marketplace. We believe the potential for blockchain technology in eCommerce is substantial and are glad to be a part of it from day one,” said Craig Moerer, Proprietor of Records by Mail.
The Holiday Bonus Rewards launched on Cyber Monday and will continue through December 15th. Visit https://public.market for more information.