The SHOPX product suite is designed to help retailers benefit from blockchain technology, without the need for extra capital or development teams. These tools solve a range of issues created by centralised big tech which currently trouble the commerce space, such as increasing marketing costs, decreasing brand control through product fraud, unauthorised resellers, and poor customer service experience.
Company officials said that the Web3 and metaverse technologies have evolved to the point where customers expect more from their favourite 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.
SHOPX’s product suite includes MintX which gives brands the ability to tokenize their inventories as NFTs and connect them to Web3 technology, ReserveX which allows retailers to create branded NFTs to sell to customers through a built-in storefront, and CommerceX that takes the 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.
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