They say change is constant and the world is no exception to this rule, The world is rapidly changing and becoming more technologically advanced, Twenty years ago, the phrase "Social Media" was not known, that fact has changed today, social media isn't the only new innovation that the world has seen today in recent times, it is definitely one that has had one of the most impacts in our lives, it would be hard to see somebody with an internet enabled device that does not have a social media account.
With Innovation comes opportunity and Social media is no exception, while two decades ago advertising was majorly done on Radio, Television and Billboards, today social media influencing has joined those ranks and it is pulling it's own weight in gold because in social media, adverts targeted at both the young and the old would have greater impact and it feels more personalised, Infact to show you how effective it is for both the big and the small corporations, it is estimated that they spend approximately $10 billion Annually on Influencers.
WHO ARE INFLUENCERS?
Influencers in a nutshell are famous people who has large and dedicated followers, influencers can be a variety of people, they can be popular people on social media, Movie stars, Musicians, Artists and even Gamers.
Thanks to the invention of social media, everybody and especially the youth are now more focused on popular people and try to emulate their lifestyles and this means that when this popular people use a particular product and post it in their social media handles, their hardy fans would also try to acquire those same products and this has given rise to Influencer Advertising which is much more effective than Banner advertising of the past and while the present figure of $10,000,000 revenue generated by this industry looks large, it might be worth mentioning that this figure has been steadily growing by 20% yearly.
PRESENT PROBLEMS
FOR ADVERTISERS: Organisations who needs the services of Social media influencers do not know how much impact they are getting from individual influencers and this just makes them keep spending more and more in random influencers and hope for the best results and this model isn't good for business in the long run because they end up spending much more than they should have spent for less results.
FOR INFLUENCERS: Some Influencers are worth much more than they are paid by Advertisers and in most cases, influencers so not get anything from the sales of the products that were made directly from them, this has greatly reduced the amount of money that they can potentially make.
INTRODUCING GEMSTRA
Are you an advertiser who wishes that you can view the sales generated from each Influencer that you pay to advertise your product? Are you an advertiser that wants to be able to track the influence that each Influencer has on your product? Are you an influencer who wishes to earn directly from the sales of the products purchased through you? Then I have good news because there is a blockchain based platform that was established to make your dreams come true and the name of this platform is Gemstra.
Gemstra is an Ecosystem that has several components that is solely aimed at decentralising and improving the Influencer/Advertiser relationship with blockchain technology, additionally Gemstra would also have so many other features like ASTRA, KNOWY, GEM tokens and more. According to the Gemstra Whitepaper, Gemstra is much more than an influencer marketplace, Gemstra is the future of Influencer Marketing.
KNOWY
It is not a secret that review keeps sellers honest and that is why Gemstra developed a d'App that would be built on DEXON Blockchain that is fully dedicated to reviews, the beauty of Knowy is that it is decentralised and transparent thanks to Blockchain technology and this ensures that review cannot be tampered with by advertiser's, each review is scored by the weight of the reviewer's reputation and reviewers gets their reputation through a voting system by the community, you can learn more about this in the Gemstra Whitepaper.
The Knowy d'App is still in the beta mode and the beta version is available for testing in iOS devices, you can download the beta version on TestFlight.
THE GEMSTRA TOKEN (GEM)
The GEM token is the token that fuels the Gemstra Ecosystem, it is used for payment, commission, rewards and governance of ASTRA and in the future, the GEM token would be listed in third party exchanges so that they would have liquidity and all the people paid with it would be able to convert it to fiat, more details about this can be found in the Gemstra Whitepaper.
I have tried my best to describe Gemstra without making this article too long or boring and if you want to do your own personal research to learn more about Gemstra, I have added some links below to assist in that endavour
WEBSITE | WHITEPAPER | TELEGRAM | TWITTER | ANNOUNCEMENT THREAD
My Bounty0x Username: Collinberg