UltraSound Merch Supply Chain Litepaper
Conceived in Bankless DAO, UltraSound Merch brings digital artwork into the physical world with the world’s first on-chain supply-chain platform. We provide a streamlined platform for crypto-native artists and Web3 communities to easily create, produce, sell, and ship custom-designed apparel and merchandise.
For example, a digital artist can rapidly design, produce, and offer for sale limited-edition t-shirts featuring one of their creations printed in vibrant color on ethically sourced organic cotton blanks. Smart-contract integration enables the artist to bundle the shirt and digital NFT art together, sell them separately, offer one as a bonus item for the other, or many other options.
Built from the ground up for Web3, the UltraSound Supply Chain includes the Bankless Checkout, our custom-built Layer-2 payment gateway. Bankless Checkout enables USM to accept payments in a range of cryptocurrencies and tokens. Plus, it features an automated, on-chain, revenue-sharing mechanism that transmits funds directly to artists’, contributors, and suppliers’ crypto wallets.
UltraSound Merch is also pioneering NFT receipts, another major advance for merchandise sales. Not only do these provide immutable proof of authenticity and ownership for physical goods, but they also unlock incredible new opportunities for airdrops, token-gated access to exclusive content, downstream revenue, and other innovative engagement models for creators.
The UltraSound Merch team is stacked with experience industry professionals, including experts in:
- Supply chain
- Apparel sourcing and production
- Art and design
- Product marketing and branding
- Banking and AML
- Solidity programing and smart contracts
- Front-end and ecommerce software development
UltraSound Merch is not itself a DAO, although our Discord server is our HQ, and our remote team is deeply connected across the worlds of DAOs, NFTs, crypto, and Web3. We are pursuing the formation of a legally recognized Co-Op organization structure that will enable us to more easily conduct business in the US while remaining aligned with the spirit and decentralized ethos of a DAO.
The USM Roadmap:
Stage 1 (complete)
- Define and establish MVP for the UltraSound Supply Chain: all production participants (blank apparel supplier, printer, and artists) able to transact in cryptocurrency.
- Build MVP Shopify site and develop artist and community web pages.
- Launch HQ server on Discord and attract talented Bankless DAO members to contribute to the project.
- Connect supply chain partners to Discord server.
Stage 2 (complete)
- List and sell t-shirts designed by a crypto community or artist and sourced from the UltraSound Supply Chain.
- Establish Social media channels (Twitter, Instagram).
- Build and test revenue-splitting mechanism, including capabilities that enable all input variables and wallet addresses associated with individual products to be dynamically calculated to achieve accurate percentages to output to database format for smart contract integration.
Stage 3 (complete)
- Build and test a Layer 2 (Polygon) community token in Bankless Checkout.
- Successfully use $BANK tokens to purchase product.
- Develop USM branding.
- Form legal Co-Op structure to establish ownership mechanism and liability protection.
- Enable automated revenue-splitting mechanism on the Bankless Checkout.
- Enable NFT receipt customization.
- Establish system for t-shirt redemption with crypto projects using token gating.
- Upgrade website to scale to more communities and artists.
- Onboard UltraSound Supply Chain partner printers in Europe, Australia, Africa, and Asia.
- Expand ecosystem of UltraSound Supply Chain supplier partners to broaden the product mix and options.
- Continue to explore Web3 and crypto technology innovations that add value to customers.
USM and the future
UltraSound Merch is establishing new use cases and expanding the utility and value of NFTs. First, by providing a seamless way for artists to extend the reach and value of their digital NFT artwork on physical goods that fans and collectors can enjoy IRL.
In addition, we are developing a novel, blockchain-based supply chain that ensures that records of all transactions—from sourcing through product delivery—are open and traceable on-chain. We believe that this transparency will lead to greater efficiency and fairer, more ethical business practices in the merchandise industry.
Moreover, we’re piloting and innovating the use of NFT receipts, which we see as holding tremendous potential for customer engagement, proof of authenticity, bonus-content unlocks and other new models and use cases that are yet to be imagined.
We also believe that merch is just the beginning for this model. We’re confident it can be replicated and adapted for a broad range of product categories beyond merchandise, helping to accelerate the adoption of NFTs to new audiences while increasing the value and utility of NFT.
All of the above ultimately moves the cryptoverse and its' participants towards a fair and transparent 'Bankless' future.