Buttrfly and the future of blockchain for marketing

04 Nov, 2018
by Arthur Sillers
News
Buttrfly and the future of blockchain for marketing

CoinAgenda Global conference in Las Vegas has announced that the winner of their ICO contest was a startup called Buttrfly, according to BitsOnline. Buttrfly has already won the CoinAgenda Europe ICO contest, and presages the use of blockchain and crypto for applications in the marketing industry.

Butterfly’s product is essentially a cross between Tindr and Fiver for ‘influencers’- an app built on the EOS blockchain which allows advertisers to post campaigns and jobs which influencers can swipe to accept or reject.

The project gained the title of most promising startup of 2018 at the CoinAgenda conference in both Vegas and Europe for promising to solve inefficiencies in the market for influencer advertising, which is a burgeoning market created through the expanding domains of social media. The notion of an influencer is a new model of advertising and media, and an application like Buttrfly can use blockchain to facilitate the matching of media personae with smaller fields of influence with products, which Buttrfly projects will reach $10 Billion USD.

Its impossible to know how successful Buttrfly’s application will be, but if successful, it will continue the trend of flattening a media and celebrity landscape, with the internet creating smaller demographics, especially in the 18-34 year old demographic who are likely to use apps like Instagram and Twitter, which are mostly pointed to as creating the influencer model of celebrity, with smaller pools of fans who can be just as engaged and available for marketing projects.

The fact that influencers do not have the same household name recognition while using platforms with available metrics and data has clearly created a product space which projects like Buttrfly, which solves the marketing challenges using the blockchain, will vie to fill.

In fact, Coinbase just yesterday announced that they are listing the Basic Attention Token on their Coinbase Pro version, which is another advertisement-centric digital currency. The BAT a token which is specifically designed for advertising and public relations application, and is designed to measure engagement and monetize it.

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