IndaHash, the social influencer marketing app that launched in 2016, is set to release a new cryptocurrency that will allow brands to directly pay social media influencers in virtual Bitcoin-like tokens, rather than physical dollars. IndaHash announced the launch earlier this month with a pre-ICO (initial coin offering) set for a week-long run beginning November 8.
Amassing over 300,000 social media users, IndaHash has a presence in more than 70 countries with related brands spanning a global audience. Companies like McDonald’s, Milka, KFC, New Balance, Coca-Cola and Pepsi, among others, have been utilizing the app to reach new customers through the use of social media influencers with over 1200 conducted campaigns to date.
According to Barbara Soltysinska, co-founder of IndaHash.com, “it makes perfect sense for a digital business to launch a cryptocurrency,” she says. “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.”
One of the biggest challenges currently is payout time from brands to influencers. At present, it takes a minimum of 30 to 60 days for influencers to receive their payout, but through a brand-partnership with IndaHash, advertisers will be able to pay influencers immediately.
Though some are unsure as to the value of the cryptocurrency, influencers will be able to sell their coins on the cryptocurrency exchange or sell them back to IndoHash for US Dollars. With the value of Bitcoin sitting at an all-time high – a single bitcoin is currently valued at $5929.00 US Dollars – pragmatically the move to crypto is a no-brainer. Under a market umbrella that has a limited exchange velocity — that is, there is only so much cryptocurrency to go around — crypto can certainly be likened, in terms of long-term value, to the outdated but still always relevant Gold Standard. What’s more, it creates an excellent opportunity for cryptocurrency to enter mainstream consumer discourse.
If a social influencer is talking about crypto, you can bet that three months from now, Joe Schmo on the street will be wondering where the nearest bitcoin atm is, and just how he can use it.