Public Market

Overview

Today’s eCommerce platforms are built around two-sided marketplace network effects, where the growth in the number of sellers and items available benefits the existing buyers and attracts more buyers, which in turn attracts more sellers. These same network effects that attract and drive value for buyers and sellers mature into powerful competitive moats which insulate large eCommerce marketplaces from competition and empower them to exert monopoly power on network participants, most often in the form of fee and data extraction. Public Market is pursuing a different vision. By provisioning the previously proprietary infrastructure of eCommerce within an open and decentralized protocol, Public Market preserves the utility of a large and vibrant marketplace while eliminating the incentive to extract monopoly rents from buyers and sellers  

Why Public Market

We believe Public Market can drive unprecedented redistribution of value back to consumers and independent retailers. Four key functions enable eCommerce. These are: the aggregation of a database of items for sale; the cultivation of a catalogue of products, descriptions, and prices derived from this database; the provision of a reputation management system for buyers and sellers; and the protection of marketplace participants from fraudulent transactions. The Public Market protocol elegantly embeds this core infrastructure in an open protocol which allows anyone to build an online storefront that sells from a pooled source of inventory. The outcome is a marketplace which preserves the convenience and efficiency of a large eCommerce platform with strong network effects without relying on a centralized intermediary.  

How We Helped

We participated in Public Market’s seed round. In addition to supporting Public market as a capital provider, we are active personal and corporate users of their public marketplace. Additionally, we will support Public Market’s push to onboard products and retailers onto the marketplace as the network seeks to scale its first Storefront.

Why Public Market?

We believe Public Market can drive unprecedented redistribution of value back to consumers and independent retailers.

Four key functions enable eCommerce. These are: the aggregation of a database of items for sale; the cultivation of a catalogue of products, descriptions, and prices derived from this database; the provision of a reputation management system for buyers and sellers; and the protection of marketplace participants from fraudulent transactions. The Public Market protocol elegantly embeds this core infrastructure in an open protocol which allows anyone to build an online storefront that sells from a pooled source of inventory. The outcome is a marketplace which preserves the convenience and efficiency of a large eCommerce platform with strong network effects without relying on a centralized intermediary.

How We Helped

We participated in Public Market’s seed round. In addition to supporting Public market as a capital provider, we are active personal and corporate users of their public marketplace. Additionally, we will support Public Market’s push to onboard products and retailers onto the marketplace as the network seeks to scale its first Storefront.


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