Splyt Core Raises $2.75M, Oversubscribed By $350M

Team Splyt

The Splyt Core Open Source Protocol Intends to Standardize Equitable Business Practices with Blockchain Technology and NFT’s to Create an Automated, Trustless E-Commerce Ecosystem.



Splyt Core, an open source ecommerce protocol built around the eNFT, has announced the completion of a fund raise oversubscribed by $350M, raising a total of $2.75M. Notable participants include Master Ventures, Bigcoin Capital and Kyros Ventures. All but ready for the launch, Splyt prepares to democratize e-commerce and to become “the Marketplace of Marketplaces,” paving the way for mainstream adoption of decentralized protocols in every industry.

Splyt Core aims to transform e-commerce by standardizing the Transmission Control Protocol for E-Commerce Non-Fungible Tokens (TCP/eNFT) - a decentralized e-commerce ecosystem regulated by internal protocol for fairness and governed by consensus for flexibility. Anyone who participates in e-commerce is a potential user: consumers, affiliates, markets, and brands. The Splyt Core App allows existing e-commerce stores to Plug and Play, integrating seamlessly into the layer-2 eNFT infrastructure. Current plug-ins include Shopify, Woocommerce, and Magento.

Google searches for NFT’s are at an all time high, and even Jack Dorsey recently sold an NFT of his first tweet for $2.9M. But Cyrus Taghehchian, CEO and Founder of Splyt, noted that “Splyt actually conceptualized the NFT use case long before the current frenzy - we helped pioneer that. Splyt minted NFTs in 2017 well before the erc-721 was introduced in 2018. Since then we’ve built out the technology.

Splyt deploys a unique multilayered network that includes companies, cooperatives, and foundations which is designed to ensure cooperation, compliance, and user engagement at every level. Although Splyt plans for worldwide adoption, the vast majority of allocation requests were turned down. A $2.75M limit maintains integrity at launch and allows for controlled and balanced scaling. Those who were chosen shared Splyt’s enthusiasm and vision, and are hoped to be positive contributors to the community.

Splyt’s first use case is Maison Du, built to cater to the luxury industry, and will launch with over 2000 brands, affiliates, and stores. This influx will set the stage and pave the way for more and more brands to join. Further funds will be used to develop technology, build apps, and marketing their message.

“We are unique in this space as we are one of the few companies with an existing product that resolves real-world problems... The problems of retail and e-commerce are widely known, so our solutions almost feel like a no brainer for many. That is critical to our success, and critical in driving the interest Splyt has generated,” said Cyrus.

About Splyt

Splyt is an e-commerce NFT infrastructure that connects e-commerce stores, brands, and affiliates. A unique eNFT is assigned to each item providing users with a globally updating inventory. An eNFT is a certificate of authenticity to prevent counterfeits, has a built in smart contract that holds money in escrow to avoid scams, and has a commission to incentivise affiliates and stores. The protocol is equipped with automated dispute and arbitration mechanisms, and is governed by consensus to maintain decentralization, flexibility, and user engagement.

Visit Splyt Website: https://Spl.yt

Follow Splyt on Twitter

Follow Splyt on Medium

Join the Telegram Community

Media Contact

Email: [email protected]


Content Disclaimer

The above review statements are those of the sponsor (Source of content) and do not necessarily reflect the official policy, position or views of the content publisher. The content distribution company is therefore not responsible for the content and its authenticity and legal standing of the above subject matter. Each individual is required to exercise its content when making a purchase from the above offer. The information does not constitute advice or an offer to buy. Any purchase made from the above press release is made at your own risk. Consult an expert advisor/health and professional advisor before any such purchase. Any purchase made from this link is subject to the final terms and conditions of the website's selling as mentioned in the above as source. The content publisher and its downstream distribution partners do not take any responsibility directly or indirectly. If you have any complaints or copyright issues related to this article, kindly contact the company this news is about.  

DISCLAIMER of Liability. IN NO EVENT SHALL OUR PR COMPANY BE LIABLE OR RESPONSIBLE TO YOU OR ANY OTHER PERSON FOR ANY DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, OR EXEMPLARY DAMAGES OF ANY KIND, INCLUDING WITHOUT LIMITATION, LOST PROFITS OR LOST OPPORTUNITIES, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES IN ADVANCE AND REGARDLESS OF THE CAUSE OF ACTION UPON WHICH ANY SUCH CLAIM IS BASED, INCLUDING, WITHOUT LIMITATION, ANY CLAIM ARISING OUT OF OR IN CONNECTION WITH ANY OF THE CONTENT, INCLUDING, WITHOUT LIMITATION, AUDIO, PHOTOGRAPHS, AND VIDEOS, OR OF THE ACCURACY, RELIABILITY, OR LEGALITY OF ANY STATEMENT MADE IN OR OMITTED FROM ANY advertisement, sponsorship, endorsement, testimonial, opinion, or other product-related or service-related statement or review appearing in the Websites or in ANY post or article distributed via the Websites.





Source: Story.KISSPR.com
Release ID: 17503
Tags: