Thursday, July 18, 2019

Blockchain Marketing: A Fresh Perspective to Marketing

Just as blockchain has revolutionized the world of conventional technology and traditional accepted methods, the newly emerging industry is currently changing the face of modern marketing too—and is starting from its courtyard.

Blockchain: The Chain that keeps moving

Blockchain technology has graduated from a mysterious buzz word to being a reality among many spaces now as countless fields continue to find the most innovative use cases and implementation. The development of blockchain has been steady, and earlier detractors were very quick to retrace their earlier positions as the potential of the nascent technology seems intent on shattering expectations at every landmark.

With a buzzing technology however comes a solid marketing too and the blockchain industry could not have forged a clearer path perfect at serving its revolutionary cause.

Replacing Conventional Marketing

The likes of Google and Facebook have come down hard on cryptocurrencies and digital assets and banned most crypto adverts on their platforms, but not many are complaining.

In retrospect, it is curiously ironical that a platform which carries the holy grail message of decentralization and anti-monopoly would leech of its growth on the same centralized data villain it is meant to disprove. This is why either by accidental or intentional design, the rise of bounty hunting as a new form of marketing in the blockchain space is nothing short of a masterstroke.

Pie Chart

Initial coin offerings, the launch of new decentralized applications (dApps) and the emerging community of new coins have somehow found their way on social media into targeted communities with a new form of ‘decentralized’ method of marketing, a stark contrast to conventional advertisements going through Twitter or Google to sponsor carefully curated ads. ‘Bounty Campaigns’ are the new way of disseminating information and stirring up more responsive actions: a system that employs users of a community to distribute information individually while being rewarded for their work. 

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“Bounty campaigns allow projects to issue tokens to the community members who participate in certain tasks that help promote the project,” a source from HackerNoon explained. 

“The tasks can range from a simple social media share to the creation of a 2,000-word project analysis.“

Evolution Continues

A year after decentralized marketing grew into the norm; there were still questions to be asked given a lot of uncomfortable situations that had to do with tracking users and the work they do. However, decentralized marketing has grown beyond that now, and is stretching it more horizons after the launch of leading bounty campaign expert platforms such as Bounty Hives founded by Tudor Stomff. With more than hundreds of clients, BountyHives has become an industry leader setting the pace for quality and decentralized marketing like nothing before its time, and its exploding growth is not stopping any time soon.

Adedamola Bada
I'm Damola, a computer engineer from Obafemi Awolowo University. A crypto enthusiast, marketer, and writer who is seeking to achieve career excellence through hard work and positive contribution to the organization that aspires for excellence. Contact me on [email protected]

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