A Finnish start-up business promising to fuse the best of social media and ecommerce platforms into a single solution for watch lovers goes live today.
Soma, created by a team of entrepreneurs in Finland, believes there is a gap in the market because, while social media helps watch enthusiasts and collectors share images and opinions, it does not make it easy to buy and sell watches.
At the same time ecommerce platforms such as Chrono24 do little to bring communities together in the same way that Instagram and Facebook do.
If Soma manages to bridge this divide, the concept could gain traction, although it will need to attract far bigger names in watchmaking than the brands that will populate the platform from its launch day.
Today is that launch day, and there are dozens of brands presenting and selling their new watches. When watches sell, the transaction will be registered on a blockchain ledger and the watch will be tracked throughout its life if it is sold on more than once.
Members of the Soma community can comment on its watches and the watches they lust after.
“At Soma, we believe that social media and ecommerce belong together. Not one tacked onto the other as an afterthought, but fundamentally integrated. Nowhere is this marriage more needed than in the world of online wristwatch retail. So we built a social marketplace. Pushing the envelope even further, we built a provenance authentication protocol that fights counterfeits using blockchain-based proofs,” the company states.
The initial line-up of brands at launch on Soma include Singer Reimagined, Ball Watches, Hanhart, Gallet, Aevig, Schwarz Etienne, Tockr, and Formex.