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The Mag Park Teams Up with SHOPX for First Token-Gated Product Launch Using NFT Technology

·5 min read

SHOPX's ReserveX Shopify App Gives Retailers The Ability To Go Beyond Digital Goods And Apply Revolutionary Technology To Real-World Products

Miami, Florida--(Newsfile Corp. - June 23, 2022) - Today, Magnolia Park, a footwear and apparel retail store with its inline apparel brand, announced its first product drop using the SHOPX ReserveX Shopify App.



SHOPX

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/8203/128602_shopx.jpg

SHOPX, a Web3 company that gives businesses the power to create branded e-commerce NFTs (eNFTs) to drive sales and customer engagement, recently launched the first of a full suite of solutions designed to help companies transition into Web3. The SHOPX ReserveX application was designed specifically to help retailers combat automated checkout bots, build more dynamic customer loyalty programs, and allow customers to digitally reserve their spot in line for highly-anticipated product releases.

Magnolia Park, which sells a wide range of shoes and apparel and is no stranger to dealing in high-demand products.

"[Since we began Mag Park], we sold our hats in the price range of $50-$60. Today, most of our products are now on the aftermarket at two to ten times the retail value. This caused a lot of an influx of people who don't really care to collect our hats, but profit off them…with that comes having our servers monitored and constantly attempting to be botted when we did drops," said Miki Guerra, CEO of Mag Park.

Mag Park has used SHOPX's ReserveX technology to create three MagX pass collections. While every pass entitles holders to exclusive content, access to in-person and digital events, and member's-only prices, each specific tier comes with unique benefits:

Mango Lava

  • Guaranteed one Mag Park hat per collection drop

  • 15% off Magnolia Park collaborations and branded products

World Famous

  • Guaranteed one Mag Park hat per collection drop

  • 20% off Magnolia Park collaborations and branded products

  • Invoice for the NEW ERA x MAG PARK LA Dodgers "Reverse Mocha" Fitted

Pink Mocha

  • One free NEW ERA x MAG PARK LA Dodgers "Reverse Mocha" Fitted

  • Access to enter the Mag Park NFT Holder monthly design contest

  • Guaranteed one Mag Park hat per collection drop

  • 25% off Magnolia Park collaborations and branded products

  • 50% chance at 2nd Mag Park hat per collection

"ReserveX is the future for any brand in e-commerce and will allow our true collectors the opportunity to wake up whenever they want, never wait in line, and access the many other benefits that we will put together for our community. It's something I've always wanted to present, and even in a "down" market, this will prove that utility combined with physical products is a game-changer," said Miki Guerra, CEO of Mag Park.

SHOPX's ReserveX Shopify app equips retailers like Mag Park with the power to easily create branded e-commerce NFTs (eNFTs) that drive sales and customer engagement in Web3 without knowing any code. By using the app, brands can prevent automated check-out bots and "add-to-cart" services from buying up inventory and ensure loyal buyers receive guaranteed access to product drops, high-demand items, discounts, or other perks.

"ReserveX gives your brand more selling power than ever and customers more reasons to shop with you. We're so excited to partner with a Miki [Guerra, CEO of Mag Park] who has understood our vision from the beginning," said SHOPX founder, Cyrus Taghehchian. "This technology gives retailers an easy and convenient way to recognize, reward, and protect their customers. Through ReserveX, you can build trust between your community and your brand and gain a deeper understanding of their wants and needs-which ultimately translates into more revenue for your company."

ReserveX does more than help retailers create positive buying experiences for their customers. It helps brands determine market demand for their products ahead of launch and gives companies the power to create new Web3 revenue streams.

Brands can have ReserveX up and running in less than 10 minutes without a single line of code:

  • Install the app in the Shopify App Store

  • Connect the brand's wallet

  • Input a photo and a few details to create the ReserveX Pass

  • Input a photo and a few details to create the landing page

  • Designate existing Shopify store products to be connected to the pass

"ReserveX is the first app in a suite of solutions aimed at targeting some of the most common issues that plague the e-commerce industry such as product digitization, sales tracking, inventory management, and broken affiliate programs," finished Tagehehchian. "We're excited to be building products that create a fair playing field for brands while helping them seamlessly transform into successful Web3 companies. This is just the beginning. We're glad to be changing the world and keeping culture alive with Mag Park. "

SHOPX plans to follow up by releasing MintX and CommerceX in the near future.

If a company is interested in integrating SHOPX into their Shopify store, please reach out to hello@shopx.co

About SHOPX

SHOPX is an NFT-as-a-Service (NaaS) suite of products that allow businesses to create branded NFTs that are fully integrated into Shopify, with more e-commerce platforms to come. The company helps retailers drive sales and changes how brands acquire customers in Web3 and the Metaverse. Learn more about SHOPX by visiting the links below.

SHOPX.co
Facebook
Twitter
LinkedIn
Instagram
Telegram

Media Contact: marketing@shopx.co

About Mag Park

MagPark is a contemporary retailer carrying brand-name sneakers for basketball, running, and training, plus apparel and hats. Founded in 2015, Magnolia Park combines hype, basketball, music, and art to create a completely immersive retail experience for customers. This passion for sneakers and the most sought-out apparel goods has made Mag Park a staple name among the biggest influencers in the world.

The company currently has stores in Burbank and Woodland Hills, California.

You can find them online:
Website
Instagram
Twitter

Media contact:
Jessica Rodriguez
Jess@themagpark.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/128602