In my last article not 24 hours ago, I released the full rundown of the new SquadX program. We hope not to overload the community with new information, but things are moving faster now and everyone needs to know exactly how SquadX works.
SquadX ALPHA is an extension of SquadX. It is an elite group of SquadX members who have a skill set or network that can enhance the business needs of SHOPX.
SHOPX enables the freedom and agency of brands by giving companies the tools necessary to own the complete e-commerce experience. Our Web3 technology creates environments that foster a culture-focused and free economy to the benefit of those who own their brand and those who diligently engage with it.
SquadX ALPHA embodies this ethos by creating a culture-focused group of free individuals who are uniquely positioned to help us guide the economy toward a decentralized future. This mutually beneficial relationship only grows stronger with higher levels of engagement.
Qualifications:
Unlike SquadX which is completely decentralized, the ALPHA group will be hand-selected by the SHOPX team and, from that point on, will self-curate itself based on a majority vote. To qualify for the initial group, members must meet some or more of the following qualifications:
- Has a network of brands that are great prospects for SHOPX
- Has a strong audience that engages with their content and will be interested in SHOPX
- Has a network of investors that would love to purchase license tokens
- Has marketing expertise that can help grow the SHOPX business
Business Model: As stated in the previous SquadX article, ReserveX by SHOPX will charge a 5% transaction fee on all initial mints. SquadX ALPHA members will have the privilege of earning more for bringing in new brands and clients to use the reserves app. Below is the breakdown for payouts:
- (50%) 2.5% to the SHOPX Team
- (40%) 2% to SquadX (distribution below in SquadX Tiers)
- (5%) 0.25% to ALPHA
- (5%) 0.25% to the finder of the deal
Your earnings can compound up to THREE times: As a member of SquadX, as a member of SquadX ALPHA, and as the finder of the deal. Some other benefits include your invites to all SHOPX parties and events (did you miss the massive Art Basel mansion party?) and the fact that you get to contribute to the decision-making process of the SHOPX outreach team.
You also get to talk to TJ, personally, every week.
NOTE: For the BETA test, all SquadX members will also be SquadX ALPHA members.
ALPHA Membership Fine Print:
- 10 initial members will be selected by the SHOPX executive team
- The 0.5% payout will be split evenly amongst all ALPHA members regardless of who brings in the deal and who promotes the deal. But the one who brings in the deal will earn an additional 0.5% on top of that.
- ALPHA members will meet quarterly to determine whether to add new members or cut existing members. Any changes to the member count will need a 51% vote of existing members.
- 90% of members must be present at the quarterly meetings.
- ALPHA members are also able to step down at any time.
- The SHOPX executive team can change the rules at any time but will strive to give a heads-up one quarter in advance.
Suggested Responsibilities (ALPHAs determine their own rules):
- Attend Office Hours with TJ
- Engage on social media
- Tell people about SHOPX
- Tell brands about SHOPX
- Promote existing NFT drops
- Promote upcoming events
Next Steps:
- Connect one-on-one with TJ: [email protected]
- If you have SHOPX tokens, keep an eye out for the official SquadX roll-out. You will need to unstake from PoolX to stake for SquadX
- Remain active in the Discord channel and promote it
- Mark Calendars for 11/29 for the next SHOPX party
- Think of ways to push SHOPX forward
- Look out for office hours times with professor TJ
- Follow Cyrus on Twitter for product updates
- Have fun with it! No pressure.
Remember that the market is wide open right now. VERY few brands have token-gated stores. Zero. SHOPX is integrated into Shopify, one of the largest online marketplaces. There are hundreds of potential candidates one step away from downloading our app, and thousands more who could easily start a Shopify store and then download it.
Because the concept is so new and because crypto and NFTs are such an exciting unknown, the possibilities here are huge. And once you’ve caught the brand’s attention, the SHOPX team will take it from there. Anyone can get involved here. All it takes is a little initiative.
If you want a head start, here is Eric’s meeting link for ReserveX demos:
https://meetings.hubspot.com/eric-mchugh
Feel free to send it out to whoever and land your first brand! Good luck ALPHAs.