We are pleased to announce the launch of Uniswag.io, an online market built to streamline the listing, sale and redemption of tokenized goods 🦄️ 📬.
Uniswag is a joint venture between Open, ESQ LLC, the first limited liability DAO and team of legal professionals developing next-generation services for digital orgs. (OpenEsquire), and Primal ETH, Inc. (Primal), a kindred limited liability DAO developing products to launch tokens and crowdfund with Ethereum smart agreements.
To get meta and flex our 3-D printer skillz, we are kicking off Uniswag with a listing of 50 Unirings, which are custom, limited-supply cryptoWearables designed to hold NFC chips and bear QR codes that can generate cryptocurrency payment requests, among other dazzles, literally putting web3 sovereignty at your fingertips: ✨💍✨:
Proceeds from the sale of Unirings shall be directed to fund the registration of Primal Portal for Regulated Token Crowdsales, so win/win for folks sticking around 🖖.
Like Unisocks, the Uniswag storefront hosts digital representations of goods that can be instantly traded on a decentralized exchange as tokens:
In this internet-native context, the settlement and distribution of ownership is recorded and settled automatically on the Ethereum blockchain for drastically less cost and with greater fluidity, as token holders can always sell right their redemption rights back into Uniswap exchange if they change their mind about the swagness of their selected good:
Better yet, and speaking to the magick-internet-moneyness of decentralized exchanges, Uniswag users can purchase and sell across ANY TOKEN pooled onto Uniswap, so Buyer Bob might snag URINGS with ether Ξ, and then sell back for DAI stablecoins or tokenized units of consulting time:
// Scoping out transaction on block-explorer, etherscan:
TLDR: Launching a market for tokenized liabilities to deliver goods or services, once the subject of sci-fi and economist musings, is now a hopscotch that can be done casually on a mobile phone 📱.
One of the few hangups in this otherwise orderly scheme is the uncertainty of redemption (🏵️ = 📦 ❓)
That is, Buyer Bob might grab tokens that represent a right to goods on Uniswag and then say, “hey, I’d actually like my swag now, thank you very much, so . . . ”
Studying this market, we feel it is important to clarify and demonstrate clear-cut redemption processes so that these shops can more easily scale 🏗️.
To square this need, we have built a form of “Warranty for Tokenized Goods” stored on IPFS and maintained by the OpenLaw community which references Unirings redemption to establish seller liability to deliver thereby 🤝, and on this front, heartily welcome nits and more clauses that countenance this exciting new option for e-commerce 📜⚡:
To take this meta game even further (why not, right?), we also codified Unirings to represent both digital AND physical wearables by tying them to a smart contract on Ethereum (leethSwap) that essentially allows any Uniring-bearing address to swap tokenized units of consulting time, RCLE for a special rate of legal engineering services from OpenEsquire, with such open offer stamped directly in code therein:
Among other programs for dealings, this smart contract effectively (i) swaps URINGS and RCLE for “Legal Engineer on Ethereum” (LEETH) tokens, so an address wearing a URING and holding 10 RCLE can swap out to claim 10 LEETH, which entitles them 10 hours of legal engineering services from the full OE team 🎩🎩🎩🎩 (which as URING/RCLE are currently priced on Uniswap, can mark a 90% discount 🤑):
What can you do with minted LEETH? On the same leethSwap smart contract, and directly from the etherscan verified code source, LEETH-holders can call functions that burn their tokens and store requests for services on Ethereum:
Such requests are stored on-chain as such:
As can be seen, OE representatives can write a response directly onto the recorded request Ethereum object, which will also reflect the requesting users’ service review if they so choose to provide. Boosting incentives fo engagement, if a LEETH-redeemer opts to review our services, then they will automatically receive 0.1 LEETH on writing this response on their recorded request:
Another view on this rigmarole (clean dApps forthcoming…), via the simple smart contract interface provided by the verified leethSwap code on etherscan:
Building this suite of connected tokenized products and services on Ethereum, we can see opportunities to leverage the dynamic-pricing and other market automation aspects of Uniswap to build complex markets with transparent rules ⛓ 💸 ⛓ ️.
If you would like to join our early fleet of products launching on Uniswag, or have questions about tokenization of assets more generally, please do reach out to info@openesq.tech and say hello 👋 .
~~~ Until next time ~~~
