With the increasing reliance on e-commerce, aggressively spurred on by a global pandemic, Splyt has come up with a unique platform to make online shopping profitable for a broad range of stakeholders.
Traditionally, marketing for online stores has been relatively rigid, with partnership and affiliate programs usually only occurring between top-tier marketing exchanges or influencers. This leaves the potential profits to be derived from these sales inaccessible to all but an elite few. Utilizing distributed ledger technology and non-fungible tokens, however, Splyt has created a way for anyone to become a product affiliate without any downside risk to the seller.
Everyone Can Earn a Commission With Splyt
Splyt introduces an intuitive platform that allows anyone to monetize their network, whether it be through social media or in person. No matter if you have one million followers or ten, if you are a movie star or a small, niche content creator, you can start to easily monetize your followers and peers by promoting goods and services to them.
Splyt has created a shoppable eNFT catalog where e-commerce stores can discover all types of offerings, as well as an eNFT bounty marketplace, a hub where sellers can find potential affiliate marketers, incentivizing them through different commission and payment structures. Through this dual-tiered system, Splyt has created a decentralized platform that caters to all parties involved in the sales process.
Tokenize All the Things
Within Splyt’s shopping catalog, each physical item is represented by an eNFT (e-commerce non-fungible token), pegging the digital inventory to its physical counterpart in the same fashion as an SKU number (in fact, the eNFT can be written with brand SKU information). NFTs are uniquely identifiable tokens that cannot be freely interchanged, making them one-of-one commodities that can represent a variety of assets.
Unlike BTC or ETH, where anyone can exchange tokens with one another without losing value or purchasing power, each NFT is distinctive and represents an individual asset. Once a user decides on a purchase, they automatically receive the eNFT, followed by the physical item, offering the same online shopping experience most are already accustomed to. If a friend or an affiliate promoted the product, they would receive a percentage commission of the sale. The seller then ships the item, and the entire transaction lifecycle is complete.
Splyt’s NFT Bounty Marketplace operates in a similar way, allowing for affiliate marketers or savvy entrepreneurs to capitalize on commission bounties set by the sellers and brands. This allows anyone to integrate any of the platform’s shoppable items into their e-commerce sites or social media channels. Affiliates can search for different products or services that are well suited for them to individually promote, facilitating high levels of customization and choice on the affiliate’s side.
On both sides of the aisle, this business model has the potential to fundamentally change their sales if they can effectively promote their products to the right people. No longer do brands or independent marketers have to rely on third-parties to collaborate and create a mutually beneficial relationship, as they can handle the entire process themselves.
The Future of E-Commerce
It’s inevitable that online sales will overtake brick-and-mortar retail for most markets. With Amazon posting a $100 billion Q4 in 2020, small and large retailers are realizing they need to do what they can to compete. This is where Splyt comes into the picture. Splyt offers small retailers and enterprises a chance to broaden their capabilities with solutions such as data tracking, blockchain, eNFTs, and more. Splyt can drive sales to new audiences while generating additional profits for the marketer and seller. Simply put, Splyt is a marketplace of marketplaces, connecting brands and marketplaces while providing the infrastructure that all digital commerce can be built on top of.
Splyt will facilitate the sales and marketing of all types of products and services, ranging from cars, artwork, sports tickets, books, gadgets, digital media, and everything in between. As more people opt to do their shopping online, Splyt’s new incentive structure will transform e-commerce and the way in which independent influencers can earn income.
Disclaimer: The writer has a personal relationship with Splyt and used this relationship to source insights for this article. The Daily Chain encourages you to carry out your own research before you make any form of investment and educate yourself about how to stay safe in the crypto space. This article is informational/educational and does not represent financial advice.