Project Verte Launches MyVerte Marketplace on the Blockchain as an Alternative to Massive E-Commerce Platforms
Full Circle E-Commerce Solution Allows Direct-To-Consumer Companies to Scale While Controlling Brand Identities with Personalization and Data
Project Verte, a comprehensive e-commerce solution for Direct-to-Consumer (D2C) brands, announced the beta rollout of its brand-first marketplace MyVerte. The MyVerte marketplace built on the blockchain 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.
Project Verte, which raised $50 million in seed funding late last year, was founded with a mission to help brands remain in full control over how their brand identity, products and communications are presented to consumers. Utilizing blockchain, Project Verte delivers on its mission through its full circle solution, featuring an easy-to-use seller portal that integrates all existing workflows, fully automated fulfillment, access to business intelligence, inventory financing and more, ultimately providing brands with the tools to maintain full control over their brand without the need of multiple third parties.
“It became clear that current marketplaces we’re designed around the branding of the marketplace, not of the brands themselves,” said Julian Kahlon, the 26 year old founder and CEO of Project Verte, who made that realization while leading UX communications and rebrands for large brands like Haagen-Dazs and ADP while also consulting for other notable D2C brands. “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.”
MyVerte, connected with Project Verte’s state-of-the-art fulfillment and technology (Its first 750,000 square foot automated fulfillment center is located in Atlanta, GA) processes orders at unprecedented speeds no longer than 2 hours from dock-to-stock – while also using machine learning and AI to predict order influx and the pairing of items per order. As Kahlon says, the fulfillment centers are built for Black Friday every day. The operations and fulfillment side is the first and most fundamental step that allows brands to focus on growing their businesses, developing new products, forging strategic partnerships and expanding into new markets.
The MyVerte marketplace provides never-before-seen data to provide greater transparency, efficiency and participation for brands and consumers alike. Leveraging this data, the company has launched a number of new products that look to change the typical online marketplace experience. This includes an Uber-style ratings feature in that brands aren’t the only parties that get ratings. As part of this, for example, brands will be able to identify serial returners (those who buy and return online goods at an alarming rate that ends up costing brands money, time and headache) and simply not display products to consumers with a particular rating or below.
For Kahlon, a sale on a brand’s dot com is just as, if not more, valuable as a sale on MyVerte, because he understands that, for a brand to truly communicate the way they want to, their story and freedom to innovate needs to be prioritized over the operational backend. That’s why Project Verte built MyVerte to run parallel to a brand’s own to simplify the workflow.
With the funding announcement late last year, Project Verte announced strategic relationships with fulfillment and automation technology companies, Geodis and GreyOrange. Since then, the company has continued to grow and attract leaders in the space, including its Chief Operating Officer Lihi Lutan, former Vice President of Professional Services at Taboola, and its Executive Vice President of Business Development Yifat Baror, former Head of International Business for Zulily. It is also growing its network of fulfillment centers with planned facilities in Dallas, Los Angeles, and other major cities nationally.