With a number of projects already having made strides to tokenize the advertising space, it was only a matter of time before the social media influencer market received interest from the cryptocurrency space. The newest entrant to this space is indaHash, an established company that broker deals between brands and influencers. Lead by CEO Barbara Soltysinska, the team is taking their pre-existing business and integrating a new token, indaHash Coin.
Disclosure: This is a Sponsored Article
At present, influencer marketing is one of the most dynamic and fastest growing advertisement segments, with a total market projection of 5-10 billion USD in revenues by the end of 2020. indaHash is the biggest player in this field, and are currently connecting more than 300,000 influences from 70 markets with over half of the companies in the Fortune 500 already signed on as clients. indaHash intends to enable influencers to effectively enhance management for brand relationships, with their goal being to become the world’s standard currency for settling all influencer activities, letting influencers have their own tokens to build their relationships and bring their fan base to a high level of engagement.
indaHash coins are intended to circulate between three groups; brands, influencers, and audience. The chain starts when brands use the coin to pay for marketing campaigns with influencers. After receiving the coin they can exchange it for other brands products at a discount for early access. Influencers can also create their own tokens which take advantage of gamification effects to increase audience engagement. The audience can then use the tokens they have collected to exchange them for exclusive actions prepared by influences for their communities. For example, this could consist of customised prizes signed by influencers private meetings or social meet-ups. Of course, the team intends to get the tokens onto an exchange, making them transferable for other cryptocurrencies.
The company currently employs over 130 people in 7 countries and has gained a substantial reputation in the 2 years that it has operated, winning many industry awards in the process. Since it’s inception in Q1 2016, the company has grown sales by 300%, as well as amassing a large contingent of influencers on the platform.
The team has cleary given a great deal of thought to the underlying economics of the token, as they have created a system for the circulation of coins throughout the various participants in the influencer economy. Thus far, the company has been limited geographically because of transaction friction created by current payment mechanisms. By creating a boundless means of payment for all their influencers globally, they will ultimately allow influencers in more countries around the world to cooperate with indaHash and make money from their interests and passions.
indaHash coin will be released as an ERC20 compatible token, but the team is looking at the various scalable contract frameworks available, including EOS, Tezos, and Raiden. Their Pre-ICO will begin on November 8th, running for 7 days, with 80% of all indaHash Coins available. The tokens will have a maximum supply of 400 million IDH, and no new coins will ever be created.
Given the strength of their team, and their significant experience with the influencer market, indaHash is poised to change the way that brands, influencers, and audiences connect and interact.
This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.