Inspiration

The idea for Metanect was born is when I realized that the current Ecommerce solution platform and Marketplace did not actually help the merchants' economy much, but in the end up burden more to the merchant with more cost, resources and time.

The essence of Marketplace is that merchants can conduct business for free and platform itself bring high traffic to merchants. But due to restriction on marketing strategy, high transaction fee ( up to 30% ) and fierce market competition, most SME cannot survive and eventually need to lose costs.

While the essence of Ecommerce Solution Platform is allow merchants to have their own ecommerce store without fierce market competition and with their own flexible marketing strategy. But it actually didn't help much on marketing, it only treat the symptoms but not the root cause . Because it didn't bring merchant customer traffic, having startup trust issues and many other factors. So it will eventually burden merchant with more costs and resources .

This is the market situation that I can see around me ( from my friends, my relative and my parent ), which is happening now.

So I wondering it is possible to combine the essence of the market and the Ecommerce solution platform to form a brand-new Ecommerce solution that can really help businesses break through the difficulties of Covid-19.

Therefore I created Metanect.

  

What it does

Metanect is a brand-new ecommerce solution platform that combine essence of marketplace and ecommerce solution platform which allows merchants to have their own online store for FREE with zero burden at the same time to connect all merchants together, promote each other in a non-direct competitive way - stay collaborative not competitive .

The "nect" in this name refers to connect also internet ( similar pronunciation ), while meta is a prefix meaning transcending. So the name metanect means to go beyond the current Ecommerce solutions and connect all merchant's store to one network and collaborate with each other..

 

So how exactly Metanect work ?

Metanect just like current existing Ecommerce solution platform ( like Shopify, Wix ) that have all the basic online store management feature like product management, order management, etc. The only differences is that Metanect is totally FREE and yet with full feature access without any restriction.

Metanect will work like a Marketplace. It is free and will bring high traffic to all merchants. At the same time, each merchant will have its own e-commerce store with complete flexibility in settings

Next is Metanect will connect all the ecommerce store that are created from Metanect platform with the 4 key feature.

  • Shared ads concept : Every ecommerce store created from the Metanect platform will reserves a place for Metanect Ads, which will promote product for different merchants in non-direct competitive way. The other way around, all merchants from the Metanect network will promote your products also, so it work like Marketplaces but will less competition.

  • Passive revenue concept : When a consumer clicks on a Metanect ads and makes a purchase, the online store also earns a commission from the ads. Which become an automated passive income for merchants.

  • Shared data concept : Consumer analysis data on the Metanect network will be shared with every merchant so that they can make better marketing decisions and business directions - like for example overall consumer purchase behavior, overall consumer browsing behavior, demographic analysis based on industry.

  • Shared point concept : Consumers can spend their reward points in any ecommerce store created from the Metanect platform. This means that merchants start their business with a group loyal customer base from Metanect network.

 

You may be wondering how Metanect makes money , here is the main 4 key Revenue model of Metanect .

  • Transaction Fee : Metanect will earn 4% transaction fee for every successful order.

  • Third party service fee difference : Metanect will earn extra revenue from the third party service like Domain, Shipping, etc.

  • Advertising : Market nowadays is looking for new way to do advertising, Metanect platform will be their innovate advertisement solution.

  • Backend service : This is one of the psycho marketing strategy, providing free thresholds to lock in customers and then promote the back-end service like design , printing, software house and so on.

  

How I built it

Metanect is actually built from scratch by combining different components from different open source projects and online code editors, so that I can speed up my development progress to achieve my idea MVP. The entire project is built with Laravel framework. The current project development has not fully completed yet but I have described how the corresponding functions should behave, it is good enough to bring out the selling point of the concept, as a complete Ecommerce solution platform is not easy to build and seem like not possible to complete within 24 hours.

  

Challenges we ran into

The main challenge I faced was that this was my first time participate in the virtual hackathon, I was trying to record a video in a bad environment and with bad network ( as physical hackathon no need record video ) and it took more time to write submissions than I expected. The video quality is not what I really expected, but I don’t have more time to edit the video, will learn from it and do better next time 💪

  

Accomplishments that I're proud of

Things I’m most proud of is that I alone managed to develop a complete MVP from scratch within 24 hours. I plan to find teammates to work together before, but because of my bad working environment, I am worried that it will affect others, so I finally chose to do it alone.

  

What I learned

The main thing that I learned from this hackathon is video recording & editing skill and writting skill 😂 as this is my first time participate in virtual hackathon, this is more difficult than I thought.

  

What's next for Metanect

I plan to join the accelerator program or get funds from investment to kickstart this project, contribute to society and help SME around the worlds break through Covid-19' s difficulties.

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