SOMA reveals an item's history. Here's why that matters.

Stories can increase value

The better the story behind a product, the more value the product carries. SOMA is, among other things, a storytelling architecture.

The human element

Objects permeate our lives. They leave their mark on us, and we leave our mark on them. Many of them leave us for other people; many of them come to us from other people. At the intersection of you and your stuff, stories are born.

Your relationship with your possessions helps define your sense of identity. Each item, however, has a story that includes yet goes beyond its interaction with you.

Photo by Christina Morillo from Pexels

Realize the winning story

People buy things that help them materialize the story they want to tell.

You bought that Subaru because you want your family to be adventurous: the subsequent camping trips bear out the narrative.

Or, you purchased that expensive watch once you hit a six-figure salary because it celebrates your triumph over adversity and the culmination of your grand journey.

When brands show consumers the stories those consumers want in their own lives, resonance occurs and products sell.

Photo by Fancycrave.com from Pexels

The ownership chain

In the secondhand market—especially for high-end, vintage, or collectible items—stories matter even more.

These stories matter for owners of products, as insight into an item’s history could increase its value. (Maybe that Rolex was once worn by someone famous. Or infamous.)

These stories are also important for brands. Data is digital gold, and the datapoints of a product’s lifecycle could empower a company to craft better stories. Stories that make new buyers light up. (This data can also empower brands to make better design, manufacturing, and logistical decisions.)

Photo by Pete Johnson from Pexels

Closing the breach

Before SOMA, new items and used items circulated in separate spheres, with little visibility between them. Brands sold products to an initial owner (the so-called ‘primary market’), after which the product disappeared from the brand’s view.

Meanwhile, in the ‘secondary market,’ used items circulated via classifieds, flea markets, and garage sales. Buyers of these products usually had no idea of the previous history of these items.

SOMA allows these separate timelines to come together in a unified item history.

Photo by Ambar Simpang from Pexels

SOMA's interactive item card (IIC)

SOMA’s blockchain creates an immutable transaction record, to which can be appended a wealth of documentation, media, and other proofs. In short, history is captured and is indisputable.

SOMA’s interactive item card (IIC) is the architecture that organizes such records. It allows easy viewing of the item history, and also enables other handy features. For example, one seller can empower another seller to act as an affiliate marketer or reseller for commission, all of which becomes part of the transaction ledger.

The IIC also defends against forgery and deception. Its blockchain-based proofs help verify an item’s provenance—a particularly useful aspect of item history if you’re dealing with luxury watches or other commonly-counterfeited goods.

Photo by rawpixel.com from Pexels

Increasing value for buyer and seller

As described in our company values, SOMA aims to preserve value for buyer and seller by cutting out unnecessary or unwanted middlemen. The transparency afforded by the IIC helps hold intermediaries accountable.

The IIC also enhances value via story preservation. Key aspects of a product’s lifecycle can often bring a higher sales price (value increase for the seller). Or, they could raise the item’s worth for the buyer. But only if the item’s history is made visible.

SOMA is many things: a transactional marketplace, a social media platform, a cryptocurrency exchange.

It’s also a storytelling machine. Stories matter, and now they can be told.

Photo by Ambar Simpang from Pexels

Getting on the SOMA platform

If you’re a watch manufacturer or retailer, contact partners@soma.co to get on our pilot launch and be an early adopter.

If you’re an individual lover of quality watches, sign up here to be notified the minute we’re accepting registrations!

User waiting list: https://goo.gl/forms/xpFstBEEA4QBGrF73.

 

About SOMA

On legacy ecommerce platforms, anonymous usernames and depersonalized storefronts strip trade interactions of an important social element. Additionally, buyers lack a definitive way to ensure the authenticity of items. Enter SOMA. Our Heimdall Protocol stops forgeries and counterfeiting by validating ownership and provenance history on the blockchain. Social media elements bring personalization and interaction to trade, and allow users to monetize social influence, while a rewards system incentivizes beneficial collaboration. SOMA is a free-market ecosystem—free of market manipulation, price-fixing, gouging, and bloat.

SOMA links

Instagram
Telegram
Discord
Twitter
Facebook
LinkedIn
Medium
BitcoinTalk
GitHub
Reddit

Subscribe to our newsletter

We will send you updates and news.