Building an atomic swap tool for digital and real-world assets
Boson Protocol is developing a blockchain protocol for trading real-world items in an almost trustless, fully automated, and reliable way. The company claims that with its protocol, users will be able to use smart contracts to trade physical assets with no intermediaries or arbitrators and human intervention, full automation, and reliable transactions. According to its website, Boson Protocol is a foundation for the Web3 network that enables the decentralized autonomous commerce revolution.
According to Crunchbase, Boson Protocol is developing an atomic swap tool for trading digital value for physical things. It claims to be a breakthrough solution to the physical asset oracle problem. The project has raised a total of £50K in funding over 3 rounds. The last funding round was done on December 1, 2019. Its key investors are Outlier Ventures Base Camp and Outlier Ventures, which helped them raised more than £50K. The core members of the project are its CTO Gregor Boroša and its advisor Trent McConaghy.
Developers on the platform can use Boson Protocol to develop various things. For example, they can develop a reward platform to exchange digital tokens that can be redeemed for real-world rewards. In addition to that, users can also purchase real-world items directly from an exchange marketplace. Developers can also use the platform to create NFTs and issue rare or special items within game ecosystems. By doing this, a player on the game that runs on the platform can win the right to buy a special T-shirt, which exists simultaneously inside the game and in the real world. Last but not least, they can also build decentralized machine-to-machine commerce such as autonomous cars trading and so on.