The annual growth rate of the Influencer Market is 35%, with an estimated value of $85 billion by 2028.
80% of Web 3.0 companies use ads campaigns with Influencers as the main channel for promotion.
Launching an advertising campaign with influencers is a long process with many problems:
- Routine processes that take up to 3 months
- Influencers aren't motivated to respond quickly and make ads in time
- Influencers don't trust brands and ask for 100% prepayment - a high risk of losing money and not getting high-quality advertising
We want to disrupt influencer marketing and create a platform with benefits for influencers and businesses
As a result
- The launch of the advertising campaign is reduced to 1 week
- The dual-token reputation model to motivate influencers to respond quickly and do the work on time
- Payment via smart contract - guarantee receiving money when the ad is posted
What it does
A decentralized influencer marketing platform with reputation-based rating and rewards for stimulating activity.
1.Influencers actively reply to incoming bookings. Businesses plan and book advertising campaigns faster. 2.Advertising campaigns can be scheduled for a specific date and get completed on time 3.The whole history of advertising campaigns is saved on one platform, as a portfolio for the influencer. Businesses could check out examples and results of the influencer's past advertising campaigns. 4.Payments for ad campaigns directly to influencers, using USDC and Circle Services
We propose a two-token reputation system, whereby one token, which we call “B4B Points,” serves as a non-transferable reputation signal. The second token, “B4B Coins” is a transferable asset dispensed to holders of points and monthly campaign turnover on a regular cycle.
How we built it
During the hackathon, we build the concept and step-by-step use case for both sides: influencer and business.
We designed the Personal Accounts for brands and influencers with main functions.
We’ve developed the Smart-contract and deployed it with the main functions of use-case.
The step-by-step functionality:
- Web3 companies pay a subscription to attend Influencer database and the ability to book and work with them
- Businesses choose influencers on the platform, learn statistics, book them, and reserve payments and tx fees for B4B Pool via smart contract.
- Influencers receive orders from businesses, learn conditions and accept them ASAP to receive more Rating - B4B Points
- According to the scheduled day, influencer make ad campaign on time with the best quality, send a link and receive more Rating - B4B Points
- Business approves ad campaign and sends the score and feedback. 6.B4B Points show brands' activity and the quality of the influencer on the platform
- Influencers receive stimulation rewards - B4B Coins, which equal up to 20% of monthly turnover and have a stable growth model
Challenges we ran into
- It's too difficult to develop a dual-token Tokenomics for Business Requirements. During the Hackathon, we changed the algorithm 3 times, learned a lot of p2e mechanisms, and improve our algorithm, based on our experience in his section.
- We concentrated on the main use case and developed the UI/UX design for them and Solidity smart-contract with the main functions to achieve that and show the benefits.
Accomplishments that we're proud of
We developed the concept and launched the 1st release of really useful instruments for Enterprises. Our team combined all our experience in providing campaigns and researched the market of competitors.
We believe that our solution will be game-changing in Influencer marketing. It will be more useful for both sides - Web3 Companies and Influencers. Transparent history and easy safety payments help in cooperation. The reputation system stimulates to be more activity for the platform and it is a community social mechanism. _ _The rewards model helps to make marketing campaigns with recommendations from influencers and increase the number of users on the platform.
What we learned
Learned how to organize the structure of our smart-contract to make it safe and useful for our use-case. Wrote the first version of the smart-contract with the main functions and mentioned what needs to improve to complete the product.
Collaborated with ideas of people and builded the reward-stimulated system for influencers.
What's next for B4B.WORLD
Next, we plan to continue developing the Platform and lead to the release of B4B 1.0 in 3 months. We plan to complete the design with all use-cases, increase quality and make audit of the smart-contract, develop the frontend and connect to smart-contract. Roadmap: Q3 2022 -Closed Beta -Crypto payments -Booking page -Smart-contracts Q4 2022 -Public Beta -B4B Coins listing -IEO/IDO I 2023 -Users growing for Web 3.0 brands and Influencers -In-App Score & Feedback II 2023 -Integration with Social Platforms -Fiat payments 2024 SocialFi Scaling for Apps & Tech industries 2025 DAO & Governance for smart-contract parameters
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