Influencer marketing company IndaHash today announced the launch of its initial coin offering for its own cryptocurrency, the IndaHash coin.
The company, which has a network of more than 300,000 ‘mid-tier’ influencers worldwide and has worked with the likes of Coca-Cola, McDonald’s and L’Oreal, says the IndaHash coin will streamline interactions between influencers, brands and audiences by creating a secure, simplified digital payment platform.
The coin will also give IndaHash influencers the chance to become a part of the rapidly growing cryptocurrency market.
Barbara Soltysinska, IndaHash co-founder, said by introducing IndaHash Coin, “we want to tokenise 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”.
Breaking down the value chain, brands will benefit, Soltysinska said, because they can pay influencers for marketing campaigns with IndaHash coin immediately, wherever they are located, eliminating payment waiting periods of up to 60 days.
Moreover, IndaHash has also created its “pay-with-fame” service, which will allow influencers to exchange their coins for exclusive offers from brands, such as access to products and services they would not normally get. In turn, brands will benefit from authentic reviews the influencers who get these perks, introducing a new dimension to the influencer-brand relationship, according to the company.
With their coins, influencers can also make their own tokens and offer them to followers to increase engagement. They can also choose to pay out their IndaHash coins, or hold onto them and see if their value grows within the cryptocurrency marketplace.
Finally, audiences can collect tokens from influencers and exchange them for exclusive benefits, such as personalised prizes or one-on-one meetings with the influencer they follow.
“As a business, we exist in the digital realm so it makes perfect sense to open up the platform to transactions in cryptocurrency which is rapidly growing in popularity,” Soltysinska said.
The IndaHash ICO pre-distribution will begin on 8 November and will run for seven days. The final number of IndaHash Coins created will be determined by how many tokens are released in the ICO, with 80 percent of all coins available during pre-ICO and ICO.