Storefront NFT owners will be entitled to commissions and bonuses from merchants who will occupy their storefronts on the network. Storefront owners will also be airdropped 1,000 MCN Coins, the utility token for governance of the MCN DAO which governs the Metaverse Commerce Network. MCN Coins will also be tradable on the crypto exchanges under the symbol MCN.
MCN will be filling the storefronts with select merchants from the more than one million Shopify™ retailers on a first come first serve basis. This ensures that storefront owners will have their store occupied and generating income in the near future. As the storefronts become oversubscribed by retailers, MCN will provide for additional minting of storefront NFTs.
MCN is developing apps and templates to provide a frictionless and free way to migrate Web2 eCommerce brands to the Metaverse and Web3 enabling eCommerce merchants on Shopify, Etsy™ and other platforms to create their stores in the Metaverse, without the high fees charged by the centralized platforms like Meta™ and Apple™ or the expense of custom store development. The platform is also a Decentralized Autonomous Organization (DAO), governed by the merchants who use it, who control fees, policies and procedures. Stores and brands in the Metaverse Commerce Network will be accessible on all XR platforms including Oculus Quest 2.
The Metaverse Commerce Network (MCN) is the brainchild of Randy Adams, serial entrepreneur, former Division President of the multi-billion-dollar retailer, Home Shopping Network and creator of the first eCommerce site on the Web, the Internet Shopping Network.