Tokens for Influencer Marketing
Last week, we discussed an interesting use case for Blockchain, which was to build an Ad Network on top of it. And therefore, bringing the transparency to the industry. No opaque industry has survived forever.
Another interesting use case to build on top of Blockchain is a token for influencer marketing.
What is influencer marketing?
With the rise of social media in recent years, many people turned influencers in their local circles. Often, you will not get to listen to them on a local medium — television, radio, live shows — but once you’ll stumble upon their social media profiles, you’ll realize that there are thousands of people who follow them religiously. They have a cult following on their profiles.
As for any product, it needs only 1000 true-fans to succeed. And because building an audience for yourself is difficult, people gravitate towards these micro-influencers to reach out to their audience for a certain cost.
You need only 1000 true-fans to succeed.
The micro-influencers in question may not have something to sell all the time. They have a leverage of the attention that they sell to make a passive income.
Token for Influencer Marketing
Recently, several platforms have emerged that curate the micro-influencers from various domains in one place, so that you can pick the ones that fit your needs. These platforms take the hassle away of engaging with an influencer.
Instead of these centralized platforms, there could be a blockchain that becomes the backbone to trade the fans’ attention in a decentralized manner.
Last week, Brave browser, in an ICO, raised $35 million in 24 seconds. The basis of the ICO was a new token called Basic Attention Token, which theoretically will allow the trading the attention. The BAT will work within a browser and will work across websites by working with publishers and advertisers.
Instead of an ad network, similar principles to trade attention can work via influencers on their profiles. A decentralized blockchain can make it happen. What are your thoughts?
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This is the first edition of Unmade, and what better idea to talk about than Blockchain. In the first edition of Unmade…unmade.email