Buy a candle, get a crypto token.
Stealthy Dallas lifestyle goods manufacturer Maison Reserve & Co., which is backed by local investors led by Daniel Anton, is looking to launch a cryptocurrency tied to the sale of a lineup of products.
“By using smart contracts, we can maximize the efficiency, reliability, and transparency of every action that occurs not only during manufacturing but also on sales and loyalty reward cycles," Anton said in a statement. “It's a massively interconnected industrial smart contract, with integrated real-time capabilities, secured and powered by blockchain.”
When Maison manufactures a product, customers will find a QR code on the packaging that can be scanned for a reward. For example, if a customer purchased a $5 item, the company would subtract 25% from its costs to cover production and reward the person with $3.75 in its MRSV token. Maison's first product – a line of scented candles – will be released at the end of the month. The company says it has invested $5 million towards its first phase of 100 products under development, including things like lip balm, shampoo, sunscreen and hand cream.
It plans to sell products online and at retailers like Whole Foods, CVS and Walgreens.
Maison chose Ethereum as the blockchain foundation of its platform due to its declining transaction costs, in part due to Ethereum’s activation of its “London” hard fork earlier this month.
Maison is in the middle of a private sale of its MRSV token, which is currently valued at $0.0001. It’s planning on opening three more sale rounds through November, at which time the company expects the token to be worth $0.002. In total, Maison has minted 100 billion MRSV tokens and estimates a market cap of $10M. When the token’s value reaches $0.005, the company said it will apply for listing on CoinBase, Binance, Bitfinex, Bitstamp, Gemini, and Kraken.
Of its token supply, Maison has set aside 30% for product rewards redemption, 25% for product development and manufacturing and 20% for private and public sales. The rest is allocated to things like brand partnerships, product influencers and liquidity exchange pools. Maison’s team and advisors hold 7% of the MRSV supply.
“It's extremely rare to find a company in this industry that isn't chasing projected revenue models which fail 95% of the time in a spectacular way,” Anton said. “Building the foundation with long-term growth in mind is what we're focusing on. ROI comes later.”
