Blockchain-based commerce company Boson Protocol has successfully closed its SAFE funding round, raising a total of $350,000.
The funding round saw participation from eight partners at leading Venture Capital firm Outlier Ventures as well as Ocean Protocol Founder, Trent McConaghy.
Boson Protocol aims to connect smart contracts with real-world commerce and its data to power the decentralised autonomous commerce revolution.
The company plans to eventually provide a wide range of use cases, from enabling users to purchase items as diverse as cars and groceries, to allowing crypto exchanges and crypto credit card providers to grant real world rewards in a crypto-native way.
Discussing the SAFE round that closed in September, Boson Protocol founder, Justin Banon, said: “Our vision is to become the basic plumbing for commerce and its data on the emerging decentralised web, where the value captured is distributed equitably between token holders and protected from capture by a single centralised entity.
Boson Protocol enables smart contracts to
execute real world commerce transactions and
input commerce data, reliably and autonomously.
— Boson Protocol (@BosonProtocol) August 20, 2020
“This is a milestone moment for us and we are thrilled to have the confidence and support of this immensely talented, knowledgeable, and experienced group of people. We look forward to making our vision a reality.”
Raised capital will be used to expand the Boson protocol team, broadening its community reach and to cover operational costs.
Matt Law, Partner at Outlier Ventures, added: “Working with Gregor and Justin for many months now, from their participation in Outlier Ventures Base Camp right up to now, what has been evident is their persistence and determination in pursuit of their vision to create a genuinely revolutionary approach to digitising commerce through managing incentives around trustless exchange of any item — digital or physical. Many have talked about decentralised commerce, I am excited to support a team actually doing it.”
For more news, guides and cryptocurrency analysis, click here.