Olymp Capital invests in WOM project to bring word-of-mouth marketing to blockchain
Alternative Investment Fund (AIF) Manager Olymp Capital today announced its investment in the WOM blockchain protocol, which facilitates the monetization of word-of-mouth recommendations.
Established in 2018, WOM Token Ltd. gives brands, content creators, publishers and social networks a revenue stream without any one central party exclusively profiting from the collective value created.
WOM’s goal is to turn honest product recommendations into a sustainable and scalable marketing strategy, paving the way for a new digital marketing model that isn’t based on ads-for-free-services.
Olymp Capital joins Advanced Blockchain AG and nakamo.to, as well as San Francisco-based VC firm, West in backing the project. Olymp Capital is the first European investment firm dedicated to the blockchain and crypto asset ecosystem. The firm manages the only European investment fund to include blockchain-related Private Equity and Initial Coin Offering/Security Token Offering (ICO/STO). The fund accepts investment both in fiat and crypto currencies.
Christophe de Courson, CEO and co-founder of Olymp Capital said:
“WOM protocol promises to connect content creators and loyal fans with their favorite brands through blockchain technology — this is their vision for online marketing, especially with the growth of influencers all over the world. We believe that WOM is in a good position to tap into the 237 billion dollar digital and mobile advertising market and that is the kind of project that could be ahead of major social networks such as Facebook, Instagram… The fact that the company has focused not just on US and Europe markets but also on Asia makes a good opportunity to get a big market share.” He added: “Melanie Mohr is not just the woman behind this great idea but has also proven that she was the right person to execute, manage and settle the major partnerships required for this protocol to become mainstream.”
The pioneer behind WOM, Melanie Mohr, is also the CEO and founder of recommendations app, YEAY, which will be the first partner platform to integrate the WOM Protocol immediately following the Dutch Auction.
The YEAY app has been live in-market since January 2017 and has a global network of creative, active, and predominantly Generation Z and Millennial users.
Its community share honest recommendation videos with one another about lifestyle products, services and experiences they love and get rewarded for their engagement.
To-date YEAY has received $7 million in seed funding from investors including the former COO of Airbnb, the former CEO of Deutsche Telekom, Grazia Equity, Mountain Partners, and more.
Melanie Mohr, CEO and founder of YEAY, and pioneer behind the concept for WOM said:
“Olymp Capital are ahead of the curve in the crypto assets space and we at YEAY and WOM are proud to partner with a future-facing firm that shares our vision. They are the best of both worlds, combining extensive experience in traditional finance with a deep knowledge of blockchain ecosystems. This relationship continues to strengthen our position as the leaders of a brand new way to tap into organic word-of-mouth marketing — while providing a more consumer-friendly alternative to the ads-for-free-services social media business model.”
The WOM Token Private Sale is currently open and a Dutch Auction Token Generation Event (TGE) will be held in Q1 2019 to sell 350 million of the one billion total tokens.