HomeNewsBlockchain-based solutions can help influencers profit from online communities
Blockchain-based solutions can help influencers profit from online communities

Blockchain-based solutions can help influencers profit from online communities

Last updated 12th Apr 2022

Social media influencers have long been bound by the use of traditional social media platforms like YouTube and Instagram as their only means of interfacing with their audiences. The limitations of these platforms are manifold, including the challenge of monetizing talent and the lack of data security, which makes partnering with brands more difficult.

But what if there was a way that content creators could have greater control over their online destinies?

Enter blockchain-based technology and the coming widespread availability of open-source, decentralized applications, or dApps, which run on top of other blockchain technologies, like Ethereum.

Power to the Influencers: Blockchain Technology Affords Greater Control

Blockchains are decentralized, digitized and immutable public ledgers that use smart contracts to make it possible to enter into partnerships with a greater level of safety than ever before. Blockchain-based applications afford a transparency that is unmatched in enabling content creators to offer performance-based services to fans, such as classes or private coaching sessions. These increased levels of trust and transparency are what make blockchain technology the driving force of burgeoning smart economies.

In creating these safer environments, blockchain technology provides the groundwork that allows for more sincere and purposeful contact between fans and influencers, and influencer networks. It also eliminates the need for intermediaries like selling platforms or streaming services that eat into content creators’ profits.

In the blockchain ecosystem, influencers can partner with developers to form mutually beneficial alliances through the creation of dedicated, personalized dApps that are tailored specifically to the needs of the influencer. This creation of individualized dApps, which enhances interactions between content creators and their followers, is a system that also benefits developers since they are paid per blockchain transaction.

BOOSTO.io is one company that has developed an impressive, blockchain-based, cryptocurrency-enabled decentralized app store that allows social media influencers to create individualized dApps. Personalized dApps make it possible for content creators to connect meaningfully with their fans. With applications that are developed to meet the individual needs and preferences of each influencer, it becomes easier than ever to nurture relationships with members of their communities. Imagine a chef being able to offer classes via livestream, and sell her favourite artisanal products in her own online shop. A financial planning guru could offer group webinars, with the capability to do this built directly into the application.

Among other companies that are developing appealing new platforms which use blockchain technology to bolster trust and encourage greater levels of direct and honest interaction, there is Dadi, a “peer-to-peer network owned by the people, shifting the balance of computational power away from large corporations.” Another is Verisart, which allows users to “create secure digital certificates for art and collectables” and to keep detailed provenance records via the immutable public ledger system of the blockchain.

Blockchain Technology Makes it Simpler for Influencers to Monetize Their Talents

A practical matter that bears consideration is that content creators must generate income. Influencers face difficulties in monetizing their talents when they are restricted to the use of conventional apps such as Facebook or Twitter in fostering relationships with their followers.

The trustworthy environment of the blockchain presents influencers with easier ways to create income, like establishing their own online stores, where they can sell personalized services and products from brands with which they have partnered.

When influencers employ specialized dApps, customized to reflect their singular needs, they become able to connect directly with their communities, reducing their dependence on sponsored content, which can sometimes feel inauthentic. Blockchain-based solutions also serve to eliminate middlemen, like advertisers, so that profits can go directly to influencers. In addition, this dependable ecosystem presents more opportunities to establish transparent relationships with brands, which then opens up avenues for influencers to create even more income. In this way, these leading-edge platforms put the power into the hands of content creators, where it belongs.

Blockchain-based technology and dApps offer the opportunity for influencers to embrace a more empowered future, creating relationships with their communities, and with brands that are profitable, robust, and more transparent for all concerned.

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