The Mag Park, the First Brand To Use ReserveX , Sold Out

author: Cyrus Taghehchian
  • News

It’s all finally happening. SHOPX just released a sleek, clean product, and brands are lining up to get involved. It has been a long and bumpy ride, but our promises are coming true and the hype is paying off. 

And this is just the beginning. Soon, the announcements will be coming one after another, and new products are going to be rolling out regularly. 

So what if it’s a bear market? We do not care. We’re going to keep building like crazy, hunting down brands, and fighting to kickstart the free-market revolution. It’s not about timing. It’s not about maximizing profits. The world isn’t waiting, so we aren’t waiting either. 

So what happened? The SHOPX App was approved on Shopify, one of the largest e-commerce platforms in the world. This is big because ReserveX is the only seamless e-commerce/blockchain app that is free, downloadable, and usable in the Shopify app store right now. Shopify app search: blockchain. Any brand can go there right now and get started. 

Go. Right now. Get started.

Brands interested in using ReserveX can get the app 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

That’s what The Mag Park did. When we found Miki Guerra, CEO, we knew he and his community would be the perfect fit for ReserveX. The Mag Park is a hype-wear brand that is often the target of automated checkout bots because of their limited edition drops and collaborations. Supply chain shortages reduced available inventory even further, and soon a nagging problem became a stubborn obstacle. It was impossible to properly and fairly distribute merch to the fans who wanted it the most. 

This past week, Mag Park used SHOPX’s ReserveX App to create three MagX pass collections. Each tier entitles holders to exclusive content, access to in-person and digital events, and member’s-only prices. 

Here’s the breakdown of The Mag Park drop:

The Mag Park Discord server filled up almost immediately, but many of the members had never used crypto before, over 50%. Though the sale lasted for 24 hours, half of the Reverse Pink Mocha e-commerce NFTs were sold in the first 60 minutes. When the public sale was opened, The Mag Park was able to sell enough passes to generate $20,000 USD in revenue during the first three minutes. In total, the brand was able to raise $100,000 without moving any products. The floor price on OpenSea went from 0.75 ETH to 2 ETH.

Keep this in mind: The Mag Park hats resell for anywhere from $500 to $900 on the secondary market. The Mag Park community was dying to get their hands on one of these passes. The purchase pays off in the short term and is more than worth it in the long term. The best part is, that only the brand and the loyal fans get to take part in the value created here. The scalpers don’t have their hand in it. Here are the perks to the pass holder:

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

Reserve 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

Key takeaways here: any brand can jump into the SHOPX App on Shopify and put together their own ReserveX Pass collection. It only takes a moment and can be tailored to your needs. Any amount of tiers can be created at any price and any Shopify product can be attached to each tier in just a click. 

If your customers love the brand, they’re going to love the ReserveX Pass collection. It gives the brand a direct connection to its loyal fans and creates value for both the brand and the customer.

Keep an eye out as we onboard more and more brands and make a case for Web3 e-commerce. It’s all coming together, and we’re grateful for The Mag Park for being the first to put their faith in SHOPX.