THELOGICALINDIAN - 2024 8 25
Influencers are individuals or organizations with a cogent cardinal of admirers on amusing media. Currently, influencer business has emerged to be one of the best able business accoutrement in the all-around e-commerce bazaar with its bazaar admeasurement extensive 2 billion U.S. dollars as of 2017 with an estimated bazaar admeasurement of 50~100 billion U.S. dollars by 2020 (source: Kotra, Korea Trade-Investment Promotion Agency, https://www.kotra.or.kr/). Realizing the amount of amusing influencers as a new sales channel, supplier companies accept been consistently accretion their account for influencer marketing.
Influencer business is growing fast as a able business apparatus and yet holds several problems. Most of the able influencers accord to agencies and suppliers accept a concrete absolute to award and contacting appropriate influencers. Thus suppliers commonly appoint third-party business agencies to affix the ambition influencers. This process, however, causes accidental agent fees for both suppliers and influencers.
Also, there is no analytical and cellophane arrangement for the influencer sales achievement altitude as of now. Influencers prove their bazaar access alone by the cardinal of followers, brand and comments, which can be calmly manipulated. Therefore it is accessible that suppliers pay big money to influencers to advance their articles but aftereffect in an abortive marketing.
SPIN Protocol, an Blockchain Project by aboriginal video business account belvedere start-up in Korea accepted as “Womanstalk,” aims to break accepted issues of influencer marketing. “We plan to break problems of accepted influencer business application blockchain technology, to accomplish decentralized business ecosystem by eliminating any intermediaries that arrest the cellophane and fair bazaar plays and by accouterment abstruse supports to accomplish business business calmly for absolute influencers. SPIN Protocol’s influencer business agent is not bound to advance but added expands to the absolute sales action through absolute online business operation, accumulating sales annal data.” said Jay Yoo, CEO of SPIN Protocol and Co-CEO of Womanstalk.
SPIN Protocol offers data-driven R/S(revenue sharing) accord system, which suppliers and influencers can accomplish a absolute acceding on promotional artefact alternative and acquirement allotment ratio. Responsible influencers of the deals can again accept a fair allotment of acquirement by acute arrangement with suppliers.
SPIN Protocol additionally provides an appraisal basis alleged S-Fame, which evaluates influencers’ sales achievement and the akin of accordant activities with the cellophane sales-based data. Currently the influencer’s achievement can alone be accurate by the cardinal of followers, likes, and comments. These are possibly but not necessarily accordant in sales performance, which additionally could be calmly manipulated. S-Fame is evaluated based on the influencer activities and chump acknowledgment based on “Proof of Fame” algorithm. Advice such as influencer’s sales activities, sales achievement and sales history is appear on the Dashboard, area suppliers and influencers can allotment analytical advice about articles and sales specialties transparently.
SPIN Protocol, as a new business belvedere that eliminates absurd interventions, provides opportunities for suppliers to accommodated all-around influencers anon with no limitations on bounded boundaries, articles nor brands. They can ability all-around barter by absolute affiliation with all-around influencers over the apple on the network. Likewise, influencers can accomplish fair and bright advantage alone aloft their achievement with an cold affidavit of their bazaar influence.
SPIN Protocol aims to accommodate solutions for influencers to abound added with a accurate business model, and to actualize a decentralized, cellophane and fair business era. Its clandestine badge auction has started from mid August, 2018 and is beneath agreement with all-around top-tier crypto funds and institutions. More capacity can be begin on SPIN Protocol website (https://www.spinprotocol.io/).
Resources: SPIN Protocol PTE. LTD
Inquiry: Marketing Manager Minji, Lee [email protected]
