Social marketing in the age of Blockchains
If we have reason to thank bitcoin for anything, it could be the further exploration of the clever uses of blockchain. Of the various inherent uses of the technology, one of the most compelling is the registration and attribution of actions; that’s just a fancy way of saying it can keep track of who is doing what. This is particularly useful as it relates to systems where various actions are valued at different rates.
Tagspire allows users the ability to be compensated for actions they take on the platform. For example, let’s say Jane takes a selfie of herself and tags both her sweater and sunglasses in the post respectively linking to Macy’s purchase pages. She then shares the post with five of her best friends. Carrie, her true BFF, views the post, shares it with a few more friends, clicks on the sunglasses tag, and ends up buying the glasses from Macy’s. Everyone is happy: Carrie gets her glasses, Macy’s gets a sale and Jane gets a commission for referring Carrie. But let’s take this whole process a few steps further…
What if as soon as Jane snaps the photo of herself and posts it Tagspire, she is rewarded with a token (or a fraction of a token)? Then when she tags the sunglasses and sweater, she is rewarded with two more tokens. Then when she shares with her five friends, she is further rewarded with tokens and so on. Not only is Jane rewarded for the singular outcome of a conversion but now we have a model that allows for just about any action to be associated with a value and that value can be shared with the user that is creating those actions. Sounds crazy, we know. We already built it.
Brands are interested in attention and engagement — just look at how Brave and the Basic Attention Token (BAT) are attacking digital advertising space . The above actions by Jane and Carrie are precisely what Macy’s wants. In fact, arguably more important than the singular sale made by Carrie, is the broader outreach to the four other friends and Carrie’s further sharing of the content to her other friends. The exposure alone creates awareness and captures attention which potentially leads to more in-store sales and purchases through other channels. Why not compensate Jane and Carrie for it?
To a smaller degree, this is what the Kodak One platform was attempting to implement until the ICO got cancelled. Kodak was simply attempting to integrate rudimentary geolocated supply chain management facilitated on a public blockchain. Tagspire already has the image capture, hi-fidelity geolocation based supply chain and some AI based auto-tagging integrated and producing a hashed action and chain of custody for its users.
From our perspective and inference, Kodak was using older and less developed tech than what is currently available in Tagspire. If anyone at Kodak is reading this, give us a shout!
We are just getting re-engaged with the community as Tagspire has been in R&D hibernation for almost 2 years now. We have been working really hard on our AI and our tokenized back-end and look forward to sharing more content.