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Gemstra

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Gemstra is a decentralized blockchain-integrated ecosystem which liberates today’s social selling economy, with the goal of building a technological protocol for social selling in retail industry.

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Overview

Project industryCommerce & Retail
Product typeEcosystem

What is Gemstra

Gemstra’s mission is to make social selling accessible and awesome for everyone. Social selling, traditionally called “direct selling”, utilizes multi-level selling models that rewards people (called “Sellers” in the Gemstra ecosystem) for influencing sales through promoting brands to their social network. Social selling is a large and growing industry, yet it is extremely captive and mostly unavailable to the broader retail market.

Gemstra is building a blockchain-integrated ecosystem (ASTRA Platform) and token economy (GMS Token) to unlock social selling to the entire retail market. ASTRA is a smart contract platform. It leverages blockchain technology to put data back in the hands of sellers and enable retailers (called “Merchants” in the Gemstra ecosystem) and brands from the $24 trillion global retail economy to join social selling. Gemstra provides open source software and an SDK for Merchants to integrate with ASTRA. The GMS Token will reduce friction as ASTRA’s default exchange of value, power gamification and reward models native to social selling, and provide governance to democratize the ecosystem.

ASTRA Platform and the GMS Token are exactly what the stakeholders of social selling need - the de facto infrastructure and reward economy for an unpredictably large market.

Gemstra launched a proof-of-concept social selling marketplace called BOUTIQUES in July 2017 that gives sellers the ability to choose brands and products they want to sell and invites brands from the broader $24 trillion retail economy to participate by simply integrating their catalogs. BOUTIQUES quickly attracted 3000 sellers and 8 brands generating 7-figure annualized merchandise sales within 9 months of launch. The rapid growth of BOUTIQUES proved that retail brands want to participate in social selling and sellers desire freedom.

ASTRA - A smart contract platform

The success of BOUTIQUES inspired Gemstra to build a broader solution to liberate social selling to the broader retail economy (worth over $24 trillion globally). ASTRA is a blockchain-integrated platform that serves as technological infrastructure for social selling. ASTRA’s blockchain technology allows sellers to keep customer and network data they worked hard to generate, merchants to host transactions between multiple brands and myriad sellers, and brands to offer customized commission and rewards as well as a portable catalog that can be integrated with any variety of merchants. ASTRA promotes fair behavior and creates a trustless ecosystem for all actors in the social selling model. Gemstra will make the BOUTIQUES software open source and develop a SDK for merchants and brands to easily deploy a social selling business on ASTRA.

GMS Token - Exchange of value, rewards, gamification, and governance

By tokenizing ASTRA with the GMS Token, Gemstra reduces friction in the social selling transaction. GMS is an ERC20 token that serves as the most cost-effective method of exchanging and storing value. GMS is the default method of commission payment to Sellers. GMS can be used to purchase products at any Merchant. More importantly, GMS powers a gamification system that can be customized by brands and merchants for sellers. Gamification is the second most important form of incentive in social selling. Gamification can be based on achievement or engagement. Community and recognition are primary drivers of retention in social selling. Sellers form teams within a broader community that provides support, encouragement, and accountability. Recognition within a community drives Sellers to grow or minimally maintain their achievements. GMS provides an ideal reward construct that drives gamification through community and recognition. Distributions awarded by voting and special access granted by staking are GMS features that further incentivize Sellers to grow. Finally, GMS creates a system of governance within ASTRA so its actors have decentralized control over changes made in the ecosystem.

Value to the Actors

  • Sellers
  • Sellers drive sales for Merchants and Brands through direct promotion and social influence. Previously, Sellers were confined to a single merchant and risked losing their customers, teams, and incomes should they seek mobility. (eg. An Amway rep cannot take her customer and transaction data with her should she want to join another company.) For the first time, Sellers have the freedom to choose what they want to sell and who they want to sell with. Sellers can participate with any Merchant (or Brand) in the Gemstra ecosystem. All user and transaction data generated by Sellers belong to them in ASTRA. Sellers control who can or cannot access this data in the ecosystem.
  • Merchants
  • Merchants administer software, host the genealogy (network), define the compensation (architecture) plan, and provide the platform for Sellers to transact with their customers by selling products from Brands. Merchants can easily participate in ASTRA by using BOUTIQUES open source software or integrating ASTRA with their existing platforms through an SDK. Like in the broader retail economy, Merchants are curators of Brands. (eg. Sephora curates more than 300+ brands in their 1200+ stores) Brands can elect to operate as Merchants in ASTRA as well. (eg. Nike operates its own ecommerce site and stores. Nike also sells through other retailers like Footlocker or Champs.) The Merchant layer allows retailers from outside the industry to participate in social selling by activating dormant influencers / customers and inviting Brands they already do business with. While this layer can be disintermediated, Gemstra believes that the consumer economy will continue to value curation by Merchants.
  • Brands
  • Brands provide their catalog and define custom commission levels at Merchants they integrate with. Brands can integrate with multiple Merchants to access different genealogies (networks) of Sellers and Customers. Brands can be their own Merchant in ASTRA as well. Each Brand’s catalog is made portable on the blockchain. Sales volume information and other Brand data can be shared with Merchants and Sellers to show product performance.

    Details

    Pre-sales: Mar 31, 2019 - May 30, 2019
    Public sales: May 31, 2019 - Jun 30, 2019
    Pre-sale token supply: 400,000,000 GMS
    Token supply: 6,400,000,000 GMS
    Soft cap: 8,000,000 USD
    Hard cap: 80,000 ETH

    Legal

    Blockchain Platform: Ethereum
    Country limitations: USA, China
    Registration country: United States
    Registration year: 2017
    Office address: P.O. Box 8965 Brea, CA 92822

    Token info

    Ticker: GMS
    Type: Utility-token
    Token price in USD: 1 GMS = 0.01 USD
    Token price in ETH: 1 GEMS = 0.0001 ETH
    Accepted currencies: ETH, BTC, Fiat
    Bonus program:
    Presale Round 1: 50% Bonus
    Presale Round 2: 40% Bonus
    Presale Round 3: 30% Bonus
    Public Round 1: 20% Bonus
    Public Round 2: 10% Bonus
    Public Round 3:  0% Bonus
    Token distribution:
    40% - Sale
    30% - Growth
    20% - Team
    10% - Advisors
    Funds allocation:
    38% - Marketing & Business Development
    22% - Software Development
    18% - Operational Expenses
    12% - Reserve
    5% - Legal
    5% - Misc

    Gemstra Roadmap

    1
    July 2008

    Early Idea : Envisioned ecommerce / marketplace disruption of direct selling industry

    2
    2010

    First Attempt: Launch horizontal portfolio of ecommerce brands

    3
    2013

    Second Attempt: Launch omni-channel single brand called JewelScent

    4
    May 2015

    Pivot: Start building the Gemstra Backoffice platform

    5
    April 2016

    Continued: Begin building Gemstra Boutiques

    6
    May 2017

    Alpha: Gemstra Boutiques - centralized Merchant with decentralized Sellers and Brands

    7
    June 2017

    Expand Vision: Gemstra Token - economy to truly decentralize social selling economy

    8
    July 2017

    Beta: Gemstra Boutiques August 2017 Add 7 Brands to Gemstra Boutiques

    9
    September 2017

    - Proof of Concept: Smart contract economy to transact retail sales between Seller > Merchant >Brand on ERC20

    10
    October 2017

    Proof of Concept : Customizable multi-level economics

    11
    February 2018

    Fundraising Preparation / SEC Guidelines

    12
    April 2018

    Private Investor Round

    13
    May 2018

    Engage PR firm and commence community building

    14
    June 2018

    Established Broker - Dealer engagement with Entoro for STO offering

    15
    June 2018

    - Finalize legal for private Token Subscription Agreement and ICO

    16
    July 2018

    Pre ICO

    17
    September 2018

    Entoro STO Sale

    18
    October 2018

    Add GMS Token support at checkout layer + Seller GMS withdrawal for commissions

    19
    November 2018

    Public ICO

    20
    December 2018

    End ICO

    21
    November 2018

    Investor Wallets have been distributed.

    22
    December 2018

    Deploy user/profile smart contracts

    23
    January 2019

    Business Development Sprint I : Add/Sponsor 20 Brands

    24
    February 2019

    Open source checkout service

    25
    March 2019

    Deploy Brand smart contracts

    26
    March 2019

    Brand Onboarding : Gemstra Boutiques

    27
    June 2019

    Business Development Spring II : Add 1-5 Merchants / Brands

    28
    July 2019

    Merchant Onboarding : Brands can existing on separate Merchants

    29
    2020

    Annual Goal : 1000 Brands / 100 Merchants International Growth : China, Korea, Taiwan, Japan, EU

    30
    2021

    - Two-Year Goal : 20,000 Brands / 1,000 Merchants International Growth : Russia, Brazil, India, Canada, Australia

    31
    2023

    Five-Year Goal : 100,000 Brands / 5,000 Merchants

    32
    2028

    Deployed Worldwide

    Project team

    Jay Cheng
    Jay Cheng
    CEO
    Jay Cheng linkedin
    Joseph Lau
    Joseph Lau
    CRO
    Joseph Lau linkedin
    Kevin Gambill
    Kevin Gambill
    COO
    Kevin Gambill linkedin
    Janelle Mitchell
    Janelle Mitchell
    CFO
    Janelle Mitchell linkedin
    David Odere
    David Odere
    CTO
    David Odere linkedin

    Advisors

    James Kuo
    James Kuo
    President Epox International
    James Kuo linkedin
    Ivan Ramirez
    Ivan Ramirez
    Serial Entrepreneur
    Ivan Ramirez linkedin
    Connie Tang
    Connie Tang
    President & CEO Princess House
    Connie Tang linkedin
    Paul Sri
    Paul Sri
    Blockchain Advisor
    Paul Sri linkedin
    Steve Raack
    Steve Raack
    Ex C.O.O. Of BeautyCounter
    Steve Raack linkedin
    Ted Hong
    Ted Hong
    Chief Marketing Officer
    Ted Hong linkedin
    William Hsu
    William Hsu
    Co-Founder, Mucker Capital
    William Hsu linkedin
    Tudor Stomff
    Tudor Stomff
    BountyHive CEO
    Tudor Stomff linkedin
    Jun Hao
    Jun Hao
    Advisor
    Jun Hao linkedin
    Naviin Kapoor
    Naviin Kapoor
    Advisor
    Naviin Kapoor linkedin
    Hung Chih (Jason Hung)
    Hung Chih (Jason Hung)
    Advisor
    Hung Chih (Jason Hung) linkedin
    Jeremy Khoo
    Jeremy Khoo
    Advisor
    Jeremy Khoo linkedin

    Social media

    Gemstra web-siteGemstra RedditGemstra MediumGemstraYouTubeGemstra TelegramGemstra BTCTalkGemstra LinkedInGemstra TwitterGemstra Github

    MVP

    MVP URL

    User rating:

    5/5 ( 1 )
    0

    Gemstra rating

    8.4
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