SocialMedia.Market FAQ

Who is an influencer?

The Influencers are social media icons with a great following and credibility given by their audience. They could be a well known celebrity or representing a certain niche. Influencers collaborate with businesses to increase brand awareness and drive sales by promoting brand, product or service to their audience.

There are many different types of influencers: from an industry blogger with great content and good site traffic to an ordinary Twitter member with a large following. Celebrities, journalists, analysts, thought leaders, brand journalists, platform-specific “sensations” etc., can become influencers too.

What is influencer marketing?

Influencer marketing definition is the process of promoting products and services through people (influencers) who have an impact on their audience.

As the audience of social media channels has exploded over the last few years, brands realized the potential reach and engagement opportunity provided by influencer marketing. Nowadays, total audience of social networks reached 3.03b people.

According to the recent researches 92% of consumers are more likely to trust a brand that advertises using Influencer Marketing. Moreover, it is more cost-effective than paid advertising and leads to more credible brand recommendations. That’s why, recent researches predict, the market will turn into a $5–10 billion industry by the end of 2020.

What is blockchain technology?

Blockchain is a type of distributed ledger, a decentralized database that keeps continuously updating and recording digital records of who owns what and what transaction was made. In comparison with traditional databases, blockchain has the decentralization, immutability, and assets.

Blockchain technologies help to facilitate payments sufficiently. Transactions via blockchain are faster, safer, cheaper than intermediaries and don’t depend on location or type of currency.

What is smart contract?

Smart contract is a contract created and stored on a blockchain, designed to facilitate legally binding, self-executing transactions between parties.

Smart contracts consist of some tasks that will be assigned and rules that determine the way stakeholders should act in a particular situation and what needs to be done to meet the contract requirements.One of the main advantages of smart contracts is their self-executing nature. After the terms of the agreement between the parties are set they will be automatically implemented when certain conditions are met. The terms are executed according to preset logic by a blockchain network consisting of computers that use special protocols to agree upon the sequence of actions. Since you can get rid of any third parties, the problems of counterparty trust can be solved much easier.

Smart Contacts could reduce human interference in executing payments after fulfilling the obligations.

Questions about SocialMedia.Market

What is SocialMedia.Market?

Socialmedia.market is the first decentralized ecosystem to discover, create, run, and analyze advertising campaigns with social media influencers. Based on the blockchain technology it will bring marketing activities between brands and social media bloggers to a whole new level of transparency, safety, and interaction.

What features will the platform have?

SocialMedia.Market will have features and benefits for all market participants (brands, advertisers, agencies and influencers).

A short list of features SocialMedia.Market will provide to all parties as a service:

● Transparent and competitive marketplace

● Greatly reduced operational costs and fees when working with Influencer campaigns

● Accessible and easy-to-use, even for small businesses and influencers in the early stage of social presence

● Smart partnership for a wide range of users with the ability to create smart contracts tailored to specific needs using templates and smart tips

● Fair dispute solution based on decentralised Blockchain technology

● Ultimate results, smart planning with Real-Time Analytics and Data Science

● Global outreach allows project to aim for larger market share, higher diversity and less dependency on local regulations

Why are you using blockchain technology for the platform?

Blockchain and smart contract technologies allow to implement escrow and automate contracting, as well as provide instant worldwide payments. It also allows us to decentralize disputes between users. If parties for any reason have an argument which they can’t negotiate together, they call for experts to decide who’s right. Any user who has a good rating and holds SMTs on account can become an expert to take part in dispute resolution.

We are here to build a platform that will help to establish secure, transparent, and beneficial connections for businesses and influencers. Blockchain and smart contract technologies are the key here to many of the industry challenges. It will allow to shift the culture toward the openness and reliability of professional communication and operations. The solution to the influencer marketing issues is a transparent ecosystem. And the blockchain technology provides a way to create it.

Why are you issuing your own cryptocurrency?

SMT is designed to be the flagship currency of SocialMedia.Market ecosystem, facilitating fund transfers between business, influencers or agents.

What is SMT token?

Social Media Token (SMT) is the internal currency of the platform. SMT will ensure transactions, data validity, campaign and contract creation.

How does the SocialMedia.Market platform work?

The SocialMedia.Market platform automates all business processes related to selection, creation and management of the influencer’s marketing activities, including the distribution of financial means among the participants.

The platform has a friendly and easy-to-use interface for brands and influencers to help post and accept tasks easily. To ensure the authenticity of the users, the platform will perform identity verifications whenever is necessary. The unique identities of advertiser and influencers will be based on their addresses in the Blockchain, making it difficult to forge. In order to protect personal data on the account of advertiser and influencer, two-factor authentication can be applied.

For more information please read our white paper.

Why should Brands & Advertisers be interested in the platform?

Influencer marketing works favorably for the overall branding and reputation of a company. Working with influencers whose profiles match the values and offerings of your company is the key to crack this job. SocialMedia.Market is creating easy-to-use tools that will help find, analyze, manage and monitor influencers campaigns, using the latest technologies. Transferring your consumer-targeting campaigns to the whole new level.

A short list of unique benefits the platform will provide for brands & advertisers are:

● Secure transactions

● Fair Decentralised Dispute Solution System

● Operating costs optimization

● Real-Time Data Analysis and ROI

● Reducing amount of time, required for searching and communicating with influencers

● Liquidation of expenses for dealing with intermediaries agencies’

● Access for small and medium business

Read more about features and benefits in our white paper

What should Influencers be interested in the platform?

Doing what you love is very important for any person. As an influencers struggle more and more of losing the focus on negotiations rather than on content creation, we’ve created the instrumentarium of tools gathered all in one place. Being rewarded for doing what you love, has never been easier.

A list of unique benefits the platform will provide for influencers:

● High quality business opportunities for content monetisation

● Accessible even for new influencers on early stage of social presence.

● Insights and tips for channels development

● Convenient tools for analyzing interaction and engagement of followers on the channel

● Fair Decentralised Dispute Solution System

● Secure transactions

Read more about the features and benefits in our white paper.

What should agents be interested in the platform?

SocialMedia.Market will provide opportunities in extra earnings for marketing agencies. Any agent will be able to become a partner and receive commission in Social Media Tokens for the provision of additional services for advertisers’ marketing campaigns. Also agents can become personal managers to influencers.

The platform will be a convenient tool for searching and managing business opportunities. With the help of service agents one can easily manage the advertising content schedule or check effectiveness of advertising campaigns with the extended set of tools, anytime and anywhere.

Read more about the features and benefits in our white paper.

Questions about SocialMedia.Market Token Sale

How to participate in SocialMedia.Market crowdsale?

The first phase of the public token sale will commence on November 21, 2017, 12:00 PM PDT (-7 UTC). The token sale will last till November 28, 2017, 12:00 PM PDT (-7 UTC) or as soon as we reach the hard cap.

To participate in SocialMedia.Market crowdsale you should sign up to your personal account on our website and buy Social Media Tokens with BTC or ETH.

Do you have a bounty campaign?

Yes, we are running a bounty campaign. Follow the link to check the details

Who stands behind of SocialMedia.Market?

The team behind SocialMedia.Market has years of expertise in entertainment, marketing, analysis and product development. Being one of the biggest private game retailers we have sold over 10 million of games in the past 3 years. We have also created a popular marketplace for virtual items - CSGO.CASH. It has almost a million active esports players monthly selling their in-game items.

Games and Esports industries were the first to discover enormous potential of influencer marketing. Therefore, we were among the early adopters of the strategy, learning by hand all the drawbacks and problems of influencer marketing. We have unique insights of how the industry operates and how to make everything simpler and better.

Please have a look at our team board to know more about us.

How will token sale funds be used/distributed?

Social Media Tokens (SMTs) will be issued as ERC20 compatible tokens. Based on the amount of tokens contributed during both sale phases, 15% more tokens will be issued for platform core functionality and 5% for partners and advisors. This will form the total amount of SMTs ever issued.

Token sale phase 1: 30% (hard cap 30.000.000 tokens)

Token sale phase 2: 50% (hard cap 50.000.000 tokens)

Reserve for platform core functionality: 15% (issued after token sales)

Reserve for partners and advisory board: 5%

The funds collected during two token sales will be distributed in a next way:

1. 37% R&D

2. 38% Marketing & Education Campaigns

3. 12% Administrative & Operational

4. 5% Legal

5. 8% Influencers & Agencies Bonuses

How the token can be used?

SocialMedia.Market’s core functionality will be maintained by a utility token - Social Media Token (SMT). SMTs will be necessary to create and pay for marketing campaigns, to pay for additional services and tools within the platform (e.g. support of personal agent for bloggers; adhance tools and researches for brands), to pay for self-promotion campaigns by bloggers.

All token holders will be able to earn rewards in SMT within the platform by participating in dispute system.

Also, SMTs will be transferable outside the platform. Social Media Token holders will be able to operate on largest digital currency exchanges, where potential platform users will be purchasing SMTs in order to use platform services.

Will you have any discounts?

During the crowdsale we will have a bonus system. See below:

Day 1 - 10%, Day 2-3 - 7%, Day 4-5 - 5%, Day 6-7 - 3%

Please, notice that contributing Social Media Tokens during Token Sale Phase 1 will be significantly more profitable than during the second phase of the crowdsale, since in the first phase for 1 ETH can be exchanges on 800 tokens, while in the second phase 1 ETH will bring you 700 tokens.

JOIN TOKEN SALE

What payment methods do you accept?

The payments are accepted in ETH and BTC.

Please, note! Regardless of the currency you choose for contribution (ETH or BTC) you need to have the Ethereum wallet address (Master Wallet) in order to receive SMT.

Read here how to create about Ethereum wallet.

How to create an ether wallet?

Here is a short guide on how to create a wallet in MyEtherWallet. The process for other wallets is similar.

Step 1: Visit MyEtherWallet, enter a strong password and generate a wallet.

Step 2: Now you need to store your Private Key. There are 3 ways to do this.

● Download a .JSON file with an encrypted version of the private key. It is compatible with geth, mist and myetherwallet. Also it requires a password to decrypt (Keystore).

● Store unencrypted version of your private key by downloading it in a .JSON file.

● Copy paste a .JSON file from the website.

To get an additional level of security for your wallet you can use the Keystore (encrypted) feature.

Step 3: Make sure to save your wallet address or the QR code. You have to give a sender a public key in order to receive transactions. You can copy the text format or the QR Code. Your QR code can also be used to create a paper wallet.

1. To buy SMT you need to register on SocialMedia.Market.

2. After registration, you will need to confirm your email address by following the link in confirmation letter.

3. Next, enter your Ethereum address which will be used to send you Social Media Tokens. You can change your wallet after registration.

Note! Regardless of the currency you choose for contribution (ETH or BTC) you need to have the Ethereum wallet adress (Master Wallet) in order to receive SMT.

If you buy tokens with Ethereum, please, be sure that the wallet you used for contribution in ETH matches your Master Wallet for SMT enrolment.

Read here how to create about Ethereum wallet.

4. After entering ETH address, you will be redirected to personal account. There you can find all the necessary information for buying Social Media Tokens using BTC or ETH, such as:

● change your Master Wallet

● See your balance of tokens

● Transaction history

● Calculate contribution rate in BTC or ETH

For contributing in Ethereum

For contributing in Ethereum you need to send ETH to the SocialMedia.Market Ethereum address shown in your personal account. SMTs will be credited to your personal account and will become transferable after final token sale.

Minimal contribution amount - 0.01 ETH.

Please, be sure the wallet you used for contribution in ETH matches your Master Wallet (you should add it in your personal account) for SMT enrolment.

In order to contribute, we recommend using MyEtherWallet or other ERC20 token standard compatible wallet.

Do not send ETH from cryptocurrency exchange wallets like Bittrex, Poloniex etc. This will lead to irreparable loss of your funds.

For contributing in Bitcoin

For contributing in Bitcoin you need to send BTC to the address shown in your personal account. This address is unique and linked to your personal account. Do not give this address to anyone.

Contribution amount in SMTs will be calculated and credited to your account upon 3 confirmations. SMTs will become transferable after final token sale.

Minimal contribution amount - 0.01 BTC.

Do not send BTC from cryptocurrency exchange wallets like Bittrex, Poloniex etc. This will lead to irreparable loss of your funds.