For anyone who is a social media influencer, Patron is the blockchain-based platform you’ve been waiting for, because it will boost your profits by cutting out the middleman. That is what Patron offers.
Patron wants to promote a “sharing economy” where fans and followers can co-star and collaborate with their favourite vloggers. It also plans to connect sponsors with influencers and is using the Airbnb business model so that sponsors can hire an influencer for a single post/video, or have an ‘ambassador’ contract.
Patron’s concept emerged form the fact that 40 percent of an influencers’ earning are paid to intermediaries, but by using the Japanese-based platform, the influencers can hang on to much more of their earnings.
Micro-influencers have niche market advantage
It also wants to put more focus on micro-influencers. These are people who specialise in a niche area. While these influencers may attract a smaller audience, they are usually able to achieve higher engagement rates.
To achieve its aims, Patron has partnered with a Fintech company called BANKEX. Influencers will be able to use its MediaToken to promote their accounts and boost their advertising revenue, while investors have an opportunity to invest in an influencer’s account early and enjoy larger dividends later.
Patron’s CEO, Atsushi Hisatsumi, says the deal is “extremely important” for the company and he told Cointelegraph: “We are excited for this partnership and for what the future holds for us.”
Patron’s parent company Extravaganza International recently teamed up with Switchboard Live and as aresult, Patron’s users will be able to simultaneously publish live streams on a range of platforms including YouTube, Periscope and Facebook Live, which should dramatically increase their reach.
Patron will make the world a more democratic and more lucrative place for social media influencers and enable local influencers to work internationally by helping them to over come language barriers.
Currently Patron has a web app available and will roll out one for smartphones in June this year.