TECHNOLOGY

E-commerce marketplace says brands come first with blockchain

BY Dan Berthiaume

MyVerte leverages blockchain technology for greater retailer control.

Project Verte, an e-commerce solution for direct-to-consumer brands, is rolling out the beta version of a blockchain-based online marketplace called MyVerte. Utilizing blockchain technology, Project Verte features a seller portal that integrates all existing workflows, automated fulfillment, access to business intelligence, and inventory financing. According to Project Verte, this approach enables participating retailers to maintain full control of their brand without assistance from third parties.

MyVerte processes customer orders in no more than two hours from “dock to stock” utilizing a 750,000-sq.-ft. automated fulfillment center in Atlanta. The platform also employs machine learning and artificial intelligence (AI) technology to predict order influx and the pairing of items per order.

In addition, MyVerte provides an Uber-style ratings feature that enables customers to rate retailers and retailers to rate customers on factors such as unusual frequency of returned goods. Retailers will have the option to not display their products to customers whose rating falls below a certain score.

MyVerte is launching with over 100 brands and will announce a “drop” featuring new brands weekly, starting with Foreo, Stryx, Temporary Forevers, Les Belles Heures, Birthstone Scents, Ujjayi, Unbound and La Luna Rose. The platform is growing its network of fulfillment centers with planned facilities in Dallas, Los Angeles, and other major cities nationally.

“It became clear that current marketplaces we’re designed around the branding of the marketplace, not of the brands themselves,” said Julian Kahlon, founder and CEO of Project Verte. “Existing marketplace’s messaging constantly overshadow its participating brand’s messaging, perception, equity and overall identity. Our goal in founding Project Verte was to give D2C brands the ability to reclaim control, and get the optimization and insights that they need to grow their businesses, increase their bottom line, while at the same time staying true to their core values.”

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