Shop, the decentralised retail platform designed with cutting-edge blockchain technology headquartered in the US, has announced the acquisition of omnicommerce platform, Comrse, as well as the social retail app, Kanga (both of which were obtained using their own Shop tokens), and ecommerce platform FoxCommerce, at the premiere tech-centred conference, SXSW.

Kanga and FoxCommerce will be the first apps to run on Shop’s blockchain protocol, giving shoppers across each platform access to the Shop token.

Shoppers receive Shop tokens from brands in exchange for sharing information such as consumer preferences, style profile, and purchase history. Tokens can then be used in return for discounts or other incentives. This allows shoppers to control their data and be directly rewarded for brokering it to brands during transactions.

Shop CMO, Jamie OShea said, “The Shop token has been designed to support an ‘information marketplace’ that continually increases the amount of personal consumer data being shared between shoppers and brands. This equitable exchange helps brands deliver more meaningful retail experiences to shoppers while returning greater savings to them in the process. For shoppers, this is the first tool that empowers them to own and monetise their personal data, shifting that control out of the hands of third-party retailers like Amazon.”

The Shop Wallet, which will be used to store/spend tokens and control brand access to shoppers’ personal data on various platforms across the Shop landscape, is now live and available for use in conjunction with the Kanga platform. Kanga is a millennial-targeted online retail apparel start-up, whose focus is on omnichannel and social integrations.

FoxCommerce is an API-first retail platform providing scalable, flexible customisation tools to market products. FoxCommerce was funded by notable VCs such as RoundCapital and SUSA. Comrse is an omnichannel retail platform that enables brands to move their ecommerce store into external environments like social posts. As part of their service, neither Kanga nor FoxCommerce accept merchant fees. (GK)

Fibre2Fashion News Desk – India

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