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Our vision is to revolutionize the world of commerce by creating a global social commerce economy that meets the growing consumer demand for purchasing goods directly via social media channels. Additionally, we recognize the persuasive power of social media influencers, and we will empower both established and aspiring influencers to build and monetize their network fairly and efficiently via the Me Token economy.
Social commerce is a growing market with a limited number of competitors. Indeed, in a 2017 Technavio report, global social commerce is likely to have a compound annual growth rate of approximately 34% through the year 2021.1 Currently, Facebook, Instagram, YouTube, Pinterest, and Twitter are the dominant social media channels where brands, brand influencers, and consumers have direct interaction with one another.2
However, the different actors in the social commerce space are struggling to succeed. Traditional social media players such as Twitter, Instagram or Pinterest have been unsuccessful in integrating eCommerce into their DNA. Moreover, social commerce pure-plays have not been able to reach a satisfactory ratio of customer lifetime values versus customer acquisition costs. At the same time, influencers and aspiring influencers alike, who are the driving force behind the social commerce phenomenon, are largely unsatisfied with the platforms they frequent (e.g., Instagram) as the goals and policies of these platforms are not aligned with influencers’ financial and aspirational goals.
With this in mind, we are building the Me Token, a cryptocurrency that will fuel the relationship between influencers, shoppers, and commerce platforms, allowing these key actors to be rewarded for engagement, content contributions, and any purchases that may result from these functions. More specifically, we are building a decentralized, blockchain-based ecosystem for digital content creation within a social commerce context which provides incentives for influencers, brands, and consumers.
The Me Token’s inaugural platform will be Style.me, a fashion-focused social commerce platform that has been developed and will be launched prior to the token sale event. Style.me’s competitive advantage includes years of experience building a virtual fitting room technology for the fashion eCommerce space. We are now ready to move into our next developmental phase and integrate the use of the Ethereum blockchain along with the ERC-20 standardized token which will drive the Style.me social commerce market.