MeToken

Social Commerce is growing faster than traditional eCommerce

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Ecommerce was introduced to the market years ago and it was a huge breakthrough for all the sellers and consumers. It changed the game, made the process of purchase so easy and accessible for everybody. But the time is passing and there is a new trend that is going to overtake the conventional eCommerce — Social Commerce.

According to a 2017 Technavio report, global social commerce is expected to witness an annual growth of nearly 34% by the year 2021. Nearly 93% of customers make their purchase decision based on the user-generated content. Social Media Marketing spend was estimated at $36B in 2017 which is three times the spend in 2013. The 2018 Internet Trends report from Mary Meeker, KPCB venture capitalist, cited that 55% of users bought product online after social media discovery.

Social Commerce is a growing market where brands, brand influencers and customers directly interact with each other.
But the problem is that influencers, the driving force behind the social commerce, are still largely unsatisfied with social commerce platforms as the goals of these platforms are not always aligned with their financial and aspirational goals.
Me Token is a platform that allows key actors in social commerce –brands, influencers, and consumers, to be rewarded for their engagement, content contribution and any purchase resulted from these activities.

Me Token is founded on the principle that blockchain technology is not just shifting the economy, but also the way we shop and engage on social commerce platforms. As we move further towards a world driven by blockchain, new opportunities to develop a sustainable social commerce platform emerge.

The current social commerce platforms do not provide adequate financial returns to influencers. These platforms fail to deliver a satisfactory shopping experience for users, especially the premium luxury segment, which often leads to a broken sales cycle. Moreover, the users of social commerce platforms don’t have full control over the ownership and privacy of their data.

Introduction of Me Token revolves around addressing these social commerce issues unbalanced value distribution, broken sales cycle and lack of control.
Leveraging the existing patented fashion technology and combined expertise of industry leaders, and a network of brands, retailers, and influencers, Me Token came into existence.

So, how does it actually work....

Imagine an influencer who wants to advertise new outfits. There are many ways to do it, but the most effective one is to speak with the potential customers directly. So, the influencer uploads images of the content to Me Token platform where they connect with consumers, who are looking for new clothing. Their posts receive likes and shares that later on are rewarded with Me Tokens.

Consumers can try outfits on the platform, using a 3D virtual fitting room, that will help them to understand if they want to buy these products. And, the more important thing is they don’t have to leave the platform and go to other websites. They can buy the things that they liked directly on the platform using Me Tokens!
This way both consumers and influencers get the best value more sales, more of new outfits and more money.

Bridging the gap between social commerce and ecommerce.

More and more people now want to utilize the blockchain technology to allow ownership and privacy of users’ data on social media. They also want to reward influencers, shoppers and brands through tokenized incentives adequately. Me Token best serves these purposes.
The primary reason behind Me token’s introduction is to bring closer the social media inspiration and functional but disappointing eCommerce. Me Token is aimed to empower both well-established and aspiring influencers develop and monetize their social network fairly and effectively.

This digital currency is backed up by a multidisciplinary team of industry leaders. Jonathan Leong founded Me Token with Rufus Parkinson, CEO and co-founder of Me Token. The team is comprised of seasoned professionals and advisors from the tech, fashion and blockchain industry.

Distribution of Me Token

The Me Token Company will hold 40% of the Me Tokens to incentivize and seed future social commerce platforms from different verticals. Style.me is the inaugural platform of Me Token. It’s a fashion-tech company that aims to deliver more personalized shopping experience.
The Me Token Company will incentivize the participant social commerce platforms by seeding initial Me Tokens. New platforms will also be able to join the existing Me Token user base.
Thirty percent of the tokens are allocated for token distribution sale. Participants in the sale will receive their token after the end of the sale. Remaining tokens are reserved for advisors and marketing purpose.
The Me Token Company aims to build the EconoMe, the world’s first comprehensive social commerce market. The brands and shoppers in this market will have the social leverage to connect with millions of other online shoppers.

Here is a picture of their project:

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