indaHash, a leading influencer marketing technology platform, has unveiled the indaHash Coin, a token which intends to become the global currency for the industry.
The new crypto payment system will allow influencers to create their own cryptocurrencies and is set to create a new type of relationship between social media celebrities and their fan base, bringing their audience to another level of engagement.
Influencer marketing, a form of marketing in which focus is placed on influential people, is one of the most dynamically growing advertising segments worldwide that’s projected to reach between US$5 and 10 billion in size by the end of 2020.
The largest and fastest growing influencers marketing platforms are Instagram, Instagram Stories, Facebook and Youtube, according to influencer marketing agency Mediakix.
Brands can pay anywhere between US$20 for a sponsored post by a “micro influencer” to half a million dollars for a post by an Instagram superstar like Ariana Grande.
indaHash is a free mobile app that allows digital influencers to earn money by participating in brand campaigns on their social media profiles. It is the biggest international platform for influencer marketing campaigns, connecting more than 300,000 influencers with a total reach of over a billion followers. The platform has been used to execute more than 1,000 campaigns in over 70 markets for leading brands such as Coca-Cola, McDonald’s, P&G, and L’Oreal.
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indaHash Coin: How it works
indaHash Coin will serve as a utility token creating a decentralized, community-driven virtual economy inside the indaHash app. The token will be available to brands, influencers, and audiences:
Using indaHash Coins, brands can pay for marketing campaigns with influencers.
An influencer can use the collected indaHash Coins to buy the brand’s products and receive discounts when shopping, along with early access to novelties. The influencer can also use these tokens to create his or her own token and use these to increase audience engagement by rewards and gamification. Or, the influencer can choose to sell the indaHash Coins to indaHash itself or on cryptocurrency exchanges supporting the token.
An influencer’s audience can use the collected tokens and exchange them for exclusive actions, for instance, customized prizes, closed meetings and social activities.
indaHash will have a wallet infrastructure for issuing, sending, receiving and storing influencer tokens.
Once an influencer creates a token and gives it a name, he or she outlines the activities expected from the fans (e.g.: content sharing, leaving comments, etc.) and gives each activity a value denominated in the token. Tokens are then automatically distributed on the basis described earlier.
Every fan will also have his or her own indaHash profile to view their balance of tokens from various influencers.