SocialMedia.Market (SMT) Review – SocialMedia.Market ICO Rating and Details.

SocialMedia.Market – the first decentralized ecosystem to discover, create, perform and analyze advertising campaigns with social media influencers.

Ticker:
SMT

Token type:
ERC20

ICO Token Price:
1 SMT = 0.34 USD (0.00040 ETH)

Fundraising Goal:
13,400,000 USD (16,000 ETH)

Sold on pre-sale:
1,420,224 USD (PRE-ICO)

Total Tokens:
50,000,000

Available for Token Sale:
80%

What is SocialMedia.Market?

SocialMedia.Market is an ecosystem that is designed to allow social media influencers/bloggers and advertisers to create a decentralized marketplace that will make interaction between the two much more convenient and transparent through a series of tools and Blockchain technology. Ideally, the technology will make the process of marketing more affordable, less risky, and more practical for everyone involved.

The official SocialMedia.Market website offers an explanation of why they believe that their ICO is positioned to be at the forefront of a potentially lucrative, growing areas. The site claims, using some specific figures to back up their assertions, that social media influencers and influencer marketing can create $11.69 in return for every $1 spent. They feel that influencer marketing is the future of marketing, using a Google trend index to demonstrate that influencer marketing has grown exponentially over the past few years, with no sign of it slowing down.

The concept of SocialMedia.Market was created in mid-2017 and has scheduled a launch for the first quarter of 2019. By the first quarter of 2020 they aim to reach a turnover of $80 million spent by agencies and brands.

How Does SocialMedia.Market Work?

The tokens that are purchased will provide a method of payment for contracts that are agreed upon by the brands and influencers and promises simple and safe transactions between both parties. They will also offer rewards for those who participate in dispute settlement between others.

The value for bloggers and social media influencers will be that they will be able to gain direct access to brands and businesses for potential opportunities to create content or campaigns to grow their profile and establish valuable business connections. Additionally, this opens to opportunity for more revenue generation or donations to be received by the influencer. They can also get access to tools that can help grow their channels and profiles, while also analyzing and measuring their audience.

Brands, on the other hand, will receive personal insight and assistance from the influencers in creating advertising or developing campaigns that effectively and efficiently reach their potential consumers. Agencies are able to collect commissions within the platform, and both brands and agencies can purchase tools for analytics and research purposes.

Features and Benefits of SocialMedia.Market

There is a beta version of SocialMedia.Market that can be tried through their website so potential users can get an idea of what to expect. Aside from that, the users gain access to fraud protection and can expect to see their operational costs decline. Also, the dispute solution system offers those who participate in it rewards.

One of the primary benefits of the platform will be the way in which influencers and brands can conduct business with one another. Transparency is provided to both side during the discussion aspects of contracts, and they claim that is will make transactions between the two parties safer and faster, with more direct communication. The specific view of what the discussion tools look like are not provided, however. After contracts and payment is agreed upon, the platform also offers easy payment methods that can be sent all over the globe.

Perhaps the most enticing aspect of the platform is that it will make engagement between brands and influencers/bloggers easier than ever. Locating the right brand or influencer for your needs can take forever and ne quite expensive, but the marketplace of SocialMedia.Market eliminates so much of the guesswork, so the entire process is more efficient.

The SocialMedia.Market Token Sale

The ICO is currently in the process of beginning their official main token sale, which will officially kick off on February 9th, 2018 and run through March 16th, 2018. This comes after a week of pre-sale from February 2nd to February 9th. Unfortunately, United States citizens are not allowed to take part in the token sale.

The fundraising goal for the token sale is set at $13,100,000 which equates to 16,000 ETH, the currency the company accepts along with BTC. 0.01 ETH will purchase investors 30 Social Media Tokens (SMTs), which is the minimum contribution that is accepted. 1 ETH will therefore equal 3000 SMTs. The maximum contribution will be 300 ETH. They state that their minimum goal for the token sale was already reached during the pre-sale period. During the pre-sale there was a 20% bonus offered, while the public sale will include a bonus that starts at 15% and declines to 5%.

A total of 50,000,000 tokens will be created, 80% of which is available for purchase as part of the token sale. Another 15% will be reserved for the functionality of the platform, with the last 5% to be reserved for the Partners and Advisory board.

Who’s Behind SocialMedia.Market?

Through the SocialMedia.Market website, their most influential and highest-ranking employees are identified. The CEO and Founder of the company is Dmitry Shyshov. Shyshov has founded and been CEO of two other companies – R.Games and Nontita Limited. He states that he has significant experience in influencer marketing strategy. The co-founder and Chief Marketing Officer is Alexandra Morozova. She has worked in marketing with R.Games and Nontita Limited, and has years of experience in digital marketing with brands like Apple, Sony, Lenovo, and more.

The Business Development Lead is Viktor Perekhod who has worked with brands like Volvo, Samsung, and G2A to build marketing campaigns. The Tech Lead goes by the name Maksym Churkin who describes himself as a full product modular architecture specialist and Scrum master. He oversees all the technical aspects of the company and is responsible for making the platform eventually go live.

The site also offers a look at the advisory board of ICO which consists of 10 people, made up of executives, CEOs, vice presidents, entrepreneurs, and more. The company is based out of the Ukraine and has a full team of over 20 people.

Conclusion

The concept of SocialMedia.Market should be credited for identifying an inefficiency within the area of marketing and attempting to address that inefficiency through a decentralized approach using Blockchain technology.

Unfortunately, the seemingly limited appeal of the idea to just influencers/bloggers and brands makes us question the ability of the platform to grow and establish itself in a world that is still learning to accept influencer marketing as a whole.

Additionally, the website does not provide many specifics regarding how the platform itself actually functions, aside of offering a beta trial that you will need to sign-up for in order to try. There is no description or view of the actual tools that will be offered to allow the users to discuss contracts and payment, although the site assures us that it will be simple and safe.

Overall, the ICO is intriguing with some potential for growth, but we will take a wait a see approach as to its viability.

Peter Lehmann

Peter is a blockchain investor and cryptocurrency writer at Vkool.com. Since 2014 Peter has advised blockchain startups and ICOs on content marketing, strategy and business development.

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