Q1. What is WAAM?
WAAM is an Ethereum based platform seeking to optimize the online shopping experience. WAAM provides retailers with new and innovative tools to maximize their marketing budget, generate incremental revenue, while also encouraging shoppers to increase their online shopping spend.
Q2. What are WAAM tokens?
The driving force behind the WAAM platform is WAAM digital token. All transactions within the platform, from rewarding users to the buying and selling of second-hand items, are made feasible by utilizing the WAAM tokens.
Q3. How can I open a wallet for my WAAM tokens?
There are many online services that can be used to open an ERC-20 compatible wallet, as well as offline solutions such as a hardware wallet (Ledger / Trezor). For an online wallet, MyEtherwallet is highly recommended, as it offers a user-friendly interface and a simple registration process.
Furthermore, any app joining the WAAM platform will have an integrated WAAM wallet within it.
Q4. How does the WAAM ecosystem work?
There are three main groups of participants within WAAM’s ecosystem: retailers/brands, shoppers/users, and influencers/models.
Retailers and brands offer their products for online purchase within the WAAM platform. They can also utilize the WAAM platform to research and target potential customers, launching a marketing campaign directly to them with personalized offers.
Influencers and models help drive traffic into the ecosystem by posing the auto-tagged items available for purchase.
Shoppers and users, who may function in parallel as models and influencers, can easily shop via WAAM’s shop-the-look solution as well as be rewarded for their activity on the platform, making for a new source of revenues (WAAM tokens).
WAAM’s ecosystem encourages its participants to use the platform’s tools by understanding each party’s needs and answering them - whether by lowering products return rates or by enabling users to regain control over their personal digital data and providing them with a required instrument to monetize it.
Q5. How can users/shoppers monetize their personal data?
As users interact across e-commerce apps connected by the WAAM platform, they generate a digital footprint of their shopping interests and habits; this information is then recorded off-chain, together with records of transactions provided by the retailers.
Users now have full control over their personal data, can choose to either keep it private or profit from it by agreeing to share it (partly or fully) with retailers and brands in exchange for WAAM token.
By granting, retailers/brands access to their purchasing data retailers/brands are now able to offer them true personalized deals and discounts, optimized to fit the shoppers’ individual taste.
Q6. What is RPT?
The Retail Power Tool (RPT) allows brands and retailers to access and analyze unfiltered, fully transparent digital data and shopping habits, consensually released by shoppers. Retailers and brands can then create highly targeted marketing campaigns on the platform, rewarding users who will actively concede to participate in these campaigns with WAAM tokens.
Q7. What is inFASH?
inFASh is a fashion community network that connects fashion lovers, online shoppers, and retailers in a seamless and direct peer-to-peer marketplace.
Q8. What is the connection between inFASH and WAAM?
WAAM will launch into the global e-commerce sphere through a strategic partnership with inFASH, a fashion community network that connects fashion lovers, online shoppers, and retailers in a seamless and direct peer-to-peer marketplace. This partnership will serve as WAAM’s first commercial use case.
Q9. What is planned ahead for WAAM?
As a first use case, WAAM will launch within the inFASH app, which will help catapult it into the fashion e-Commerce sector. Later, WAAM will expand to additional e-commerce verticals, such as furniture, appliances, and electronics; it will then also release its decentralized second-hand market.
Q10. Why use blockchain?
Utilizing blockchain technology enables WAAM to simultaneously share the users’ complete shopper profiles, all while keeping them pseudo-anonymous.
Q11. Why use the Etherum platform?
Ethereum is a time-tested, distributed public blockchain network functioning as an open software platform that enables developers to build and deploy decentralized apps. It is a public blockchain with a large, growing community supporting it. Ethereum's relative stability and engaged community of developers was a major factor in WAAM’s decision to base its architecture on Ethereum. Nonetheless, as new blockchain technologies emerge, which may offer better (faster; cheaper) interactions between nodes, WAAM may later choose to phase in a different blockchain platform.