Watch out eBay: There’s a new DeFi shopping app on the block

A blockchain marketplace app is taking on the likes of eBay, Amazon and Depop — and is vowing to give back to buyers and sellers alike.

Curate is designed to deliver an all-in-one experience for online shopping. As well as supporting credit and debit cards and transactions via PayPal, purchases can also be made using Bitcoin, Ether and Curate tokens.

One of the project’s main goals is to deliver a fairer deal to merchants who are dealing with razor-thin profit margins. Through Curate, a flat 4% commission will be charged on sales — far less than the fees charged by mainstream platforms.

Another point of difference is how 1% of every purchase’s value is distributed between buyers and sellers in the form of a rebate.

The Curate app is set to launch at the end of March, and more than 4,000 users have already pre-registered for early access to the marketplace.

Putting shoppers first

Shopper rewards and a fairer marketplace are among Curate’s top priorities — and the founder of the marketplace says it can be likened to a social network that’s focused on clothing, fashion, gaming, tech, health, beauty and more. A key objective is to ensure that everyone who buys and sells on the marketplace is rewarded for their time.

The app aims to make it easier for consumers and merchants to communicate with one another. Better still, small businesses can use Curate to interact with designers and connect with talented individuals who have the skill to propel their brand forward.

Merchants can upload the items they have to offer onto the Curate app. As well as purchasing these products, the community can also add likes and comments — and follow the small business. From here, the most sought-after items can gain popularity and greater visibility. With deceptive feedback an increasing problem for consumers and companies alike, an emphasis on unique and genuine content is a top priority.

Although blockchain has already started to make its presence felt in supply chain management, financial services and trading, Curate’s mission is to ensure that this technology can add value to the bustling world of e-commerce. Executives say a fourth industrial revolution is coming — and merchants will have a better chance of surviving this seismic shift if they keep up with the fast pace of new technology, innovations that their customers will embrace quickly.

A plethora of revenue models have been unveiled for Curate tokens, which have the XCUR ticker. Retailers, brands and influencers will be able to sign up for a Pro membership, while advertisers and agencies will be able to target their campaigns toward a specific cross-section of customers and enjoy greater levels of engagement. A website will also provide a similar experience for buyers and sellers who prefer a desktop experience.

New partnerships unveiled

One recent milestone came when the crypto-friendly online travel agency Travala announced that it is planning to integrate XCUR.

The strategic partnership means XCUR holders will be able to book more than 2.2 million hotels and properties, purchase plane tickets with over 600 airlines, and reserve 40,000 activities in 230 countries.

The crypto e-commerce store Shopping.io (SPI) has also partnered with Curate providing shoppers access to each platform’s network and listings.

There’s nothing that beats the feeling of uncovering a new fashion trend — and Curate’s ambition is to help trendy consumers find inspiration.

James Hakim, Curate’s founder and CEO, has some ambitious plans for Curate in the future. In a recent blog post, he revealed that he wants the platform to become the No. 1 trending app on iOS and Android in the next 18 to 24 months — and to go public.

With the way we shop changing forever because of COVID-19, Curate could be well placed to capitalize on the sudden, permanent shift to e-commerce.