Smart contracts project Boson Protocol has raised $350,000 in a SAFE (Simple Agreement For Equity) funding round. The oversubscribed round saw participation from eight partners at Venture Capital firm Outlier Ventures, in addition to technology industry veterans, including Trent McConaghy, Founder of Ocean Protocol, and Po Tang ex-CFO of Priority Pass Asia.
Boson Protocol is designed to form the building blocks for decentralized commerce – ‘dCommerce Lego’. Connecting smart contracts to real world commerce and its data, Boson’s dynamic game mechanism protects the interests of both parties to a trade, enabling the autonomous exchange of digital value for physical products and services, minimizing arbitration, cost, and trust. Operating on Ethereum, the permissionless, peer-to-peer network replicates the benefits of a market intermediary, enabling digital and decentralized apps to be easily developed and integrated.
The company will use the funding for operational costs, including expanding the team, building and developing the prototype pilots for launch customers, and continuing to broaden Boson’s community reach.
“Our vision is for Boson Protocol to become the basic plumbing for commerce and its data on the emerging decentralized web, where the value captured is distributed equitably between token holders and protected from capture by a single centralized entity,” said Justin Banon, founder of Boson Protocol. “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.”
“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,” said Matt Law, Partner at Outlier Ventures. “Many have talked about decentralised commerce, I am excited to support a team actually doing it.”
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