Weekly Q&A session #1
We constantly answer very good questions from our community, these are the best ones from last week. We'll keep posting the best on a weekly basis.
- Do you plan to target Shopify entrepreneurs in Facebook and other social media to market the product for the bounty campaigns
Our marketing strategy is designed to target brands and influencers on the most optimum communication channels available. This includes Shopify, of course.
2. How will you prevent thousands of fake accounts registering to bounty campaigns?
Bounty campaign participants will have to comply with strict rules like number of existing friends, regular social activity, mandatory numbers of posts/tweets and likes. It will be very difficult for fake accounts to comply with all rules that Sether will audit. We will provide brands with enough tools to be able to target and select as accurate as possible the influencers for their campaigns, according to the campaign specific KPIs.
3. What will determine the price of SETH sold on the platform?
We will not sell SETH on the platform. Users/brands that need SETH will need to head to an exchange to acquire tokens. The platform tokens will be transacted once the token is stable and there will be a high demand on the market and only in the situation of insufficient volume on exchanges. We will not interfere whatsoever in the market moves, but the SETH owned by the platform are just an insurance that Sether business can run (as it’s fuel is the SETH token). The platform will buy SETH from exchanges afterwards in order to fill up the backup SETH supply.
4. If Sether sells the tokens on the platform what will create demand on exchanges?
The platform tokens will be sold at the exchange rate available on exchanges and we will not set our own exchange rate. It was an initial plan of integrating with an exchange API to be able to trade them on the platform, in order to ease the process for the brands to work with the tokens. In any case, the price will be dictated by the market.
5. What will happen to the SETH which you receive from customers?
The SETHs received by the platform are in exchange to Sether functionalities. In case some of the backup SETH are sold because of lack of SETHs on the market, received SETH will fill up this backup pool. Whatever is on top of this will be sold on the exchanges — this is how Sether is generating profit.
6. Will companies understand the benefit of Sether, and how to implement it into their marketing?
We will have continuous campaigns to educate brands about the benefits of using the blockchain to conduct marketing campaigns. The most important benefits are transparency and smart contract reliability. There is a huge transparency problem in the marketing industry right now, and Sether aims to solve it as soon as possible.
7. Do brands and other companies see the benefit of using Sether instead of doing their traditional way of marketing? Some brands will find it too difficult to use new technology.
From our discussions with big brands so far, they are eager to adopt this kind of technology that will add transparency and fair rules in the marketing space. The biggest problem brands have right now is the lack of transparent budget consumption by their marketing agencies. Sether will address this issue using the blockchain.
