Vietnamese Food Retailer Accepts COS Tokens; COS.TV Becomes New Channel for Brick-and-mortar Stores to Enter Web 3.0 E-commerce
Ho Chi Min City, Vietnam, 16th November, 2022, Chainwire
AMOR SHOP, a food retailer in Ho Chi Minh City, Vietnam, recently announced that it will accept COS tokens instead of fiat currency for store purchases and that it will use the decentralized audio and video platform COS.TV to sell products, moving from physical retail to e-commerce. This is expected to increase the use cases of COS tokens and draw interest from the Vietnamese cryptocurrency community.
AMOR SHOP is a food and snack grocery store. In addition to selling many branded snacks, the foodie founder Hang Nga is committed to developing her own brand of food products. Hang Nga is a loyal COS.TV user and organized marketing activities with the COS.TV community. For example, AMOR SHOP ran a campaign where creators that made videos of the AMOR SHOP branded product “Sichuan Chicken Floss” and uploaded it on COS.TV received the chicken floss products for free.
This event was received warmly by the COS.TV community, and dozens of videos from Vietnamese creators were uploaded onto the COS.TV platform. In addition to this event, Hang Nga announced that COS tokens would be accepted by the store instead of the Vietnamese Dong and that COS tokens could be used to buy AMOR SHOP’s products. All product prices are denominated in Vietnamese Dong, and payment is made through the Contentos mainnet wallet. It has been less than a month since AMOR SHOP began accepting COS tokens and more than ten orders have been paid for using COS tokens. Through COS.TV, AMOR SHOP has transformed from a brick-and-mortar retail food store with only two employees to a Web 3.0 e-commerce business. Hang Nga said, “We accept COS tokens for product purchases because it is easy to trade, and it is our hope that COS gets better and better.”
Hang Nga, a female entrepreneur, joined COS.TV about a year ago. At first, she uploaded videos teaching people to cook and joined the COS.TV Vietnamese community. She said, “COS.TV has created a very real community for me; even though I haven’t met many of the members, I feel close to them. I received a lot of support from “COSers”, and we also shared many content creations with each other. I launched the recent campaign with the hope that everyone can try my new product for free, and hope that more people will enjoy the benefits of COS.TV.”
Other users on the platform are also excited about this success case. Tran Quang, a self-professed “COSer” believes, “COS.TV is a place for startups and young people to promote products.” Contentos Vietnamese Community Manager Hai Trung said, “The Vietnamese community has a strong foundation and the community regularly organizes activities independently to exchange knowledge about blockchain technology. In addition to connecting people learning about blockchain, COS.TV connects many professionals, such as artists, creators, newcomers, and startups. For merchants and companies, blockchain technology can be used to help them market and sell products and services, and COS.TV has become the best channel for enterprises to enter Web 3.0.”
COS.TV is a platform that combines digital asset management tools and Web3 video distribution. Founded on the principles of blockchain decentralization, COS.TV encourages users to interact on the platform to earn ecosystem reward tokens or “Watch to Earn”. On COS.TV, the distinction between “fans” and “KOLs/businesses” is blurred, and each user has more rights and can enjoy more benefits than in other platforms.
The Contentos Foundation entered Vietnam in 2018, and the COS.TV community has been growing consistently with strong growth in 2021. Ever since COS.TV entered the Vietnamese market, many Vietnamese cryptocurrency enthusiasts have been sharing and creating videos through the COS.TV platform, and have formed several creator guilds to support each other. This community is the true value behind the COS token and has laid a strong foundation for Contentos and improved the confidence of the global Contentos community. The Contentos Vietnamese community has grown into a major part of the Contentos ecosystem and currently runs more than a third of the block producing nodes on the Contentos mainnet.
In addition to building the COS.TV community, Contentos has been working on its own Metaverse, COS.SPACE, with the goal of creating a more complete online experience for creators. CEO Mick Tsai recently revealed that the COSverse online launch event will be held on COS.SPACE at the end of the year, and a limited number of core users will be invited to the event.
About Contentos Foundation
The vision of Contentos is to build a decentralized digital content community that allows content to be freely produced, distributed, rewarded, and traded, while protecting author rights. Contentos strives to incentivize content creation and global diversity and return the rights and value of content to users. A decentralized video platform, COS.TV is built on top of the Contentos mainnet, which now serves over 1 million global users monthly around the world. Creators can earn not just block rewards with their videos but can also receive direct support from fans via watching ads or sending Gifting Votes. These revenue models generate profit for creators and the COS.TV platform just like ads on YouTube today.
In 2022, Contentos released a roadmap to build a metaverse around content creation and consumption. Starting with COS.SPACE “virtual real estate”, Contentos’ metaverse will be a place where COS.TV users can create their virtual home experience.
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