The Boson Protocol is a decentralized trading protocol that seeks to enable the sale of physical goods, services and experiences in Metaverset in the form of non-fungible tokens (NFT) and hopes to provide a team with infrastructure for exchanging assets for non-fungible tokens. monetary value. For example, an NFT of a pair of sneakers purchased using the Metaverse Boson protocol will then be refunded to the physical pair of genuine sneakers, and vice versa.
Ahead of the launch of Metaverse’s first commercial trial on Decentraland, called Boson Portal, Cointelegraph spoke with Justin Banon, co-founder of Boson Protocol, to learn more about the company’s long-term vision and business model:
“It is normal for people now to have a digital connotation such as a LinkedIn or Twitter profile. It will also be normal for physical and fashion items to have a digital twin over the next two years.”
The concept of “twinning”, or that it is a digital NFT representation of all physical objects or services, is central to the Boson Protocol’s goal of being “a ubiquitous bridge between the physical and the digital,” Bannon said.
This is why Boson Protocol built the Boson portal as a virtual mall-like site where Decentraland users can view virtual objects in Metaverse and then retrieve the physical object on their doorstep.
The gate is also a great place. Bannon described it as “an experimental wonderland.” Users can go to the brand store and select an assignment or game. Trophies are NFT and are considered championship items. Customers can purchase these items at full price or play the suggested mission to purchase NFT at a discounted price.
The BOSON token is a potential protocol service code. The network also created DAO dCommerce with plans to become a decentralized, self-sufficient, community-driven, autonomous organization that reinvests its revenue in the growth of the ecosystem or uses the revenue to buy back or burn BOSON tokens. The Boson portal requires a commission of 1% to 2% per transaction. These fees are then returned to the protocol and distributed among the token holders.
“The bottom line is that there are no middlemen between them, neither Amazon nor eBay. These are all smart contracts encrypted using game theory. That means no one takes a piece in the middle.”
Bannon added that by working with trusted brands, users can shop in Metaverse without fear of losing their money. In September, Boson bought Protocol Glass Suit, a $ 1 million Dolce & Gabbana suit, which is also an NFT on the series. A digital copy of the costume will be posted on the Bosons portal, and the physical object is scheduled to be exhibited in the museum. More and more major global brands are using NFT to integrate fashion and metaverse.
Asked about the value of trading in Metaverse, Bannon told Cointelegraph:
“This is a new generation interface. We tend to move towards more realistic things instead of lower resolution versions. Why choose a 2D flat screen when you can immerse yourself in the same room as everyone else?”
Bannon confirmed that the existing Boson Protocol 2.0 will allow brands to plug in an e-commerce platform such as Shopify and then sell directly to Metaverse. And that protocol is planned to be extended to other virtual worlds and even traditional video games like Fortnite.
Starting with Decentraland, Boson Portal aims to not only host branded retail space, but also provide space for conferences, art installations and cultural events. The first conference, called Boson Forum, coincides with the portal’s launch on Thursday and will feature speakers covering topics related to trading in Metaverse.