mCart Protocol by Mavatar
Democratizing Influence Marketing on Blockchain
What is mCart?
mCart Protocol is a decentralized influencer marketing attribution platform that addresses the needs of shoppers, influencers, and marketers by leveraging the smart contract capabilities of the Ethereum blockchain. Using these smart contracts, marketers and influencers will be able to transparently and verifiably collaborate while giving each participant the right financial incentives to participate in the ecosystem.
mCart platform is a smart, social, omnichannel, monetizable platform, which integrates seamlessly to the Retail eCommerce and provides all sorts of social sharing of shopping carts, price reduction notifications, latest and most up to date discount coupons, featured articles, store sales person chatting, AI backend and many more features, and gives monetary incentives utilizing mCart Tokens to the Market influencer and the shopper, once the proof of purchase has been posted. It will become like Uber in near future, instead of driving people to places, it will drive shoppers to Brick and Mortar shops by way of monetary incentives and socializing!
The Modern Shopping Journey
The path to purchase from discovery to fulfillment is long-winded, with many distractions in between — to the extent that the modern shopper’s journey rarely starts from stores, websites or even mobile apps anymore. Today even marketplaces have a hard time establishing themselves as a destination.
A given shopper has to open multiple windows, make multiple trips and use numerous applications across devices to make a simple shopping decision. The modern shopper’s discovery starts with content, such as social media, magazine articles, movies, videos, and real world events and places — where they should be able to directly shop from. They should be able to buy online, pick up offline, or see offline and buy online. They need to locate products near them and communicate with sales people real-time. They should have fun with social shopping. They should see where the products have been featured, real-time deals & coupons, look-alikes and a 360 degree view of the products, wherever they are, in ONE window.
Influence marketing has been effective in delivering on this expectation by providing shoppers reasons to buy from the sources they trust. At a time when monetizing content has proven challenging for many individuals and organizations with significant influence on culture, leveraging native, authentic, and relevant advertising as a source of revenue can be a life-saver for content producers.
mCarts revolutionize shopping, sales and advertising, especially with an innovative consumer-centric approach to referral or affiliate marketing. The engine processes & optimizes high volumes of data to shorten shoppers’ journey from discovery to transaction in your platform
Modern shoppers process data to make smart decision
Buying content from a decentralized marketplace at the convergence of media and commerce is aligned with these new behavior trends among modern shoppers.
Consider how modern children learn to “get” the alternating perspectives and visual meanings in television, video games, commercial logos, traffic signals, and the like. They can also manipulate numbers at a complexitiy beyond the educatecd adult of earlier generation. And modern children encounter far more writing, from schoolbooks to billboard to Facebook entries, than their ancestors did.
A Silent Force who makes the most sales but doesn’t get paid fairly
A significant number of product purchased online are sold by a ‘Silent Sales Force’, i.e. influencer (content publishers). 92% of shoppers confess that a friend, celebrity or blogger’s recommendation influenced them to buy.
• According to Forbes 92% of consumers trust online influencers more than an advertisement or traditional celebrity endorsement.
• Bloomberg reports that $255 million is spent on influencer marketing every month.
mCart Ecosystem
For the influence marketing ecosystem to achieve greatness, we need the following constituents to not ony participate but be effectively incentivized :
• Marketers: want to paticipate and tkae advantage of ROI positive opporunities to deploy their existing marketing budget with the highest efficiency. This group is already investing their money in different channels and is fully aware of the potential of influence marketing. They are looking for low-friction and verifiable mechanism to active the influencer marketing potential
• Influencer: the content generators known how effective they can be in driving sales and satisfying consumer ath the same time. Up until now, the technical difficulty of setting up marketing campaigns, the hassle of dealing with stolen leads, and the slow process of getting rewarded for their content might have gotten in the way of their monetization of their content. But with the mCart protocol, they will have addressed all of their obstacle and can fully participate in this marketplace.
• Shoppers: The ultimate decision maker in this process is the shopper who find influencers’ content enticing and the end product appealing enough to vote with their money by completing a purchase. Currently, for the most part, shoppers are cut out of the influencer marketing transaction. Even though all the effort is targeted at convincing them to make a decision, they are not rewarded or incentivized to take part in transaction, at least not directly. We believe shoppers are key to adressing the bad actor dilemma in the ecosystem. By properly incentivized to shoppers (with mCart tokens) to verify their purchase directly, as opposed to relying on affiliate middleman to track teh purchase, not only can we create a more fulfilling shopping experience for them, but we can also weed out bad-faith actors in the ecosystem.
• Oracles: In the ideal and fuly interoperable digital world, one would think it would be fairly straighforward to verify the existence of a financial transaction such as a shopper purchasing an item at a retailer suash Nordstrom. However, our antiquated financial system – the siloed and propietary infrastructures of out banking and retail ecosystem – have kept us from realizing this vision. While ecosystem participants slowly move towards such a world by adopting open APIs, we believe 3rd-party independent entities can play a role in veriyfing the validaty of transactiontaking place. Marketplace operators (oracles) can aggregate product, promote, guide the users and track influencers’ mCarts, collect purchase receipt or other appropriate collateral from the shoppers to verify a transaction occuring and help the ecosystem close the loop while taking a small piece of reward.
mCart Protocol
The mCart smart contract will facilitate the transparent and verifiable flow of information and financial reward in our decentralized influencer marketing protocol.
Despite the fact that influencer marketing is one of the most effective channels for reaching shoppers and the fastest growing due to shop- per behavior changes, the adoption of the channel has been full of challenges for both retailers and influencers. It’s in the best interest of the retailers and influencers to work together to drive the sales of their best products to consumers. However, due to a lack of transparent and verifiable data and the potential presence of bad actors, each party is forced to fend for themselves: influencers are incentivized to claim contribution to every sale while retailers and market place operators are incentivized to dispute these claims and avoid paying for any sales. The main reason is lack of trust and transparency.
mCart Protocol Benefits
The mCart protocol and the underlying blockchain technology create a win-win situation for the main players in the ecommerce ecosystem. Given the immutable nature of the records on the blockchain and the trail of information flow between all parties transparent to all, the participants can feel confident in the authenticity of the information and fairness of the attribution.
mCart Token
Cryptoeconomic protocols create financial incentives that drive a net-work of rational economic agents to coordinate their behavior towards the completion of a process.
Establishing and maintaining an open standard is a coordination problem that adds operational overhead for all contributing parties. Coordination can be especially challenging when each party has different needs and financial incentives. Protocol tokens can align financial incentives and offset costs associated with organizing multiple parties around a single technical standard.
What mCart Token Are
The mCart token is a digital currency for clearing and setting reward for affiliate sales transaction over blockchain.
mCart tokens will primarily be used by ecosystem participants to pay for and earn rewards from the mCart protocol. The benefits of issuing a protocol specific token as opposed to a generic token like Ether are:
• Clearer transparency in marketing reward attribution and flow of funds.
• Closely aligning incentives through shared economic benefits thus better shielding the ecosystem from potentially volatile fluctuations in other crypto assets.
• Protocol independence from specific blockchain platfrom (mCart protocol & tokens can be transferred to an independant blockchain if necessary).
The token will also have self-policing effect by forming a community of influencers and oracles who are compensated for their efforts in mCart tokens. Similar to the Augur REP token, members of the community are incentivized to weed out low quality participants. This alignment of incentives through the shared economic benefits will be yet another deterrent for fraudulent activity currently rampant in the affilitae marketing world, ultimately benefiting all ecosystemv participants.
What mCart Token Are Not
The mCart token does not represent capital stock , equity or other Securities in Mavatar or any of its affiliates, and will not grant you the right to recieve points, income, or other payments or return arising from Mavatar’s or its affiliates operation or assets. mCart tokens do not represent a “Promissory note,” “bond,” “debenture”, or other “evidence of indebtednes.” mCart tokens do not confer any divided or voting rights, or rights upon liquidation of Mavatar. mCart token purchase are non-refundable and are not redeemable for cash.
mCart Token Crowdsale
The mCart token will be deployed to the Ethereum blockchain as an ERC-20 token with a fixed supply of 100 million tokens. The token symbol will be mCart. Mavatar will hold a crowdsale process for launch and introduction of the mCart token. Of the 100 million total token supply, 40% will be made available for purchase through the crowdsale process to launch contributors. The crowdsale will occur in two phases: pre-sale which is set to start in December, 2017. It will be followed by a public sale, which will commence in May, 2018 and is expected to end in May, 2018 unless terminated earlier pursuant to the terms and conditions of the crowdsale. During the public crowdsale, tokens will only be sold for Ethereum (ETH) and we will issue [•] mCart tokens for each ETH. Price will be based on the current price of the ETH, the number of mCart tokens to be sold and the current market environment.
The table below shows the distribution of the mCart token at the time of mCart token deployment. The vested tokens will be added to the token circulation programmatically over the period specified.
Reward Distribution
The smart contract driving the protocol clearly indicates the amount of reward for each constituent according to the following formula:
At every execution of the contract, the following distribution are made:
• Influencer gets : pv * rvr * ip (purchase value * reward to value ratio * influencer percent)
• Shopper gets : pv * rvr * sp (purchase value * reward to value ratio * shopper percent)
• Oracle gets : pv * rvr * op (purchase value * reward to value ratio * oracle percent)
mCart Protocol Roadmap
mCart TEAM
For further information about us
Visit Website : https://mcart.io/
Visit Twitter : https://twitter.com/mCartProtocol
Visit Facebook : https://www.facebook.com/mCartProtocol
Visit Ann Thread : https://bitcointalk.org/index.php?topic=2622278.0
Read Whitepaper : https://mavatar.attach.io/SkjCtRJR~