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Summary
- The Boson Protocol is a decentralised platform that uses the non-fungible tokens mechanics to buy or sell services on various e-commerce platforms.
- Founded by Justin Banon and Gregor Borosa, the Boson Protocol is a peer-to-peer system.
- BOSON coin successfully raised $25.8m in its public token sale, bringing the total funds raised by the company to $36m.
The Boson Protocol is a decentralised platform that uses the non-fungible tokens (NFTs) mechanics to buy or sell services on various e-commerce platforms in a centralised and decentralised manner. Boson empowers e-commerce platforms to trade goods using NFTs and gaming mechanics easily and helps in the mass adoption of blockchain technology. Boson's main objective is to remove the intermediaries and give its users open access to their data.
Founded by Justin Banon and Gregor Borosa, the Boson Protocol is a peer-to-peer system that allows one to take advantage of the benefits they can get without the abuse of trust and extra cost incurred due to the presence of an intermediary. So, Boson Protocol not only disrupts the way how a user uses his data, but it also helps them provide a way to monetise it by providing them with a Web3 commerce data marketplace.
How does Boson Protocol work?
Boson Protocol works on an infrastructure that allows the DeFi, the authority for commercial and data transactions using tokenised exchange vouchers. Then the NFTs, through the game theory, allows both sides to complete their transactions using smart contracts. This enables them to conduct the transaction without moving into other DeFi protocols seamlessly. In case of disputes, it also has an arbitration committee that looks into any disputes between the two parties, and if found guilty, the person is penalised accordingly.
Boson Token (BOSON)
Boson Protocol uses its native token BOSON, enabling the holders to utilise its functionality freely. The decentralised platform, which runs on NFTs, Boson protocol, was launched on 11 March 2019. According to CoinMarketCap, the BOSON token is trading at $1.02 with a 24-hour trading volume of $35,06,219. BOSON coin's circulating supply is 3,88,14,239 BOSON coins with a maximum supply of 20,00,00,000 BOSON coins. In the last 24 hours, the BOSON coin's value has gone up by 18.71%, with the company expecting a significant announcement on 11 August.
Earlier in April 2021, BOSON coin successfully raised $25.8m in its public token sale, bringing the total funds raised by the company to $36m. BOSON coin is listed on major exchanges such as Bitfinix, Kucoin, Crypto.com and Gate.io, allowing the users to trade openly. Boson hopes that by the end of 2021, it can support seamless transactions using NFT art, CeFi and gaming.
Advantages of using Boson Protocol
One of the most significant advantages of the Boson Protocol is that it removes the intermediaries from the system, thereby giving the users more power. It also reduces the cost incurred by the users, and it gives them access to the data. However, it's too new into the crypto world, and with the complete market slated to be launched by 2022 only, the benefits can be realised later.
