Author: Fiona Chow
18 Oct 2017
At the tender age of 30, Barbara Soltysinska has the business world at her feet.
As CEO and co-founder of indaHash.com, one of the fastest growing marketing technology companies in the world, she provides a platform for more than 300,000 global social media influencers to earn money.
This they do through sponsored posts, seeding branded content or even creating bespoke creative for brands to use for advertising campaigns.
Influencer marketing is big business with the market projected to grow to $5-10bn by 2020 and indaHash has ridden that wave, opening seven offices around the world and operating in 70 markets across the globe.
Despite this ambitious expansion, the company was profitable in just six months since launching in January 2016.
It is now making a bid to the tokenize influencers industry.
“As a business,” says Solysinska, “we exist in the digital realm. So it makes absolute sense for us to provide our influencers with their own digital payment offering and open up the platform to transactions in cryptocurrency which are rapidly growing in popularity. With the introduction of indaHash Coin, we want to tokenize the influencer marketing world and create a revolution in terms of brand cooperation and audience development, solving a wide range of issues and challenges between influencers, brands and fan bases.”
The introduction of IDH Coin means that payment terms for influencers will be drastically cut from the current 30-60 days, depending on the market to enable almost immediate payment once content is accepted.
Brands, agencies and influencers will still be able to pay and be paid with fiat currency but will be incentivised to participate in the IDH Coin market.
While cryptocurrency is somewhat of a buzzword in the investment community, Soltysinska is adamant that it offers long term opportunities for both indaHash and the influencer market in general.
The IDH Coin offer influencers a “pay with fame” option where they are able to engage on a deeper level with brands and use their coin to get access to limited edition products or other exclusives and discounts. The higher their indaHash score the better opportunities they will have.
“Our objective is to tokenize the influencer industry and for IDH to become the currency of choice for influencer campaigns. Influencers will be able to hold, spend or share their IDH Coin and use it to access exclusive offers from brands or incentivise their own audience to share and engage with their content, ” said Soltysinska.
Key to the growth of IDH Coin will be a continual buyback of the currency by indaHash at market rates. As the business grows, so will the value of IDH Coin. By doing this, indaHash’s plan is to go beyond the creation of a cryptocurrency to the development of cryptoeconomics where IDH Coin is the unit of choice for interaction and engagement in the influencer world.
However, the complexity of the task ahead and educating influencers about the benefits and features of cryptocurrency is acknowledged by Soltysinska. “We know that we have the ability to truly influence the growth and development of the cryptocurrency market but that it will not happen overnight. As a result, we have reserved 18 percent of IDH Coin specifically to educate and incentivise our influencers over a period of two years.”
With more than 300,000 influencers and a combined reach of almost one billion followers, if indaHash is successful in activating influencers it will have a significant impact in the cryptocurrency market, driving growth and adoption of one of the fastest growing markets in finance.
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