Place/Date: - September 4th, 2017 at 10:46 am UTC · 4 min read
RefToken allows blockchain developers to connect and collaborate with marketers around the world to market their products on a pay-per-performance basis, in a transparent and trustless manner. RefToken eliminates the middle-men (such as marketing agencies and ad platforms) that centralise online marketing and eliminates the inefficiencies that arise from the current model that dominates online marketing. RefToken will be releasing a series of weekly blog posts that will illustrate in detail how it will disrupt the online marketing space.
Here are is the key information at a glance:
-Tokens Created: 50M (ERC20 compliant)
-Funding Target: €27.7M
-Fund security: Multi-Sig wallet with keys held by government licenced fiduciary agents
-Presale: starts 2nd October, ends 17th October no minimum contribution
-Presale price: 100% Bonus limited to 4300 ETH (200 RFR/ETH)
-ICO: starts 17th November, ends 17th December
-ICO price: 100 RFR/ETH on day 1 increasing to 50 RFR/ETH on day 30. More details here: https://reftoken.io/ico
Funding will be used to expand the development team, accelerate its deployment and add additional modules that will increase the platforms competitive edge and versatility, these include:
-Super affiliate/MLM management functionality.
-An inbuilt RTB display ad platform (similar to Google’s AdSense) that will allow users to buy ad space on each other’s sites without a middleman taking the lion’s share of the revenue.
-Leader boards & competition module for merchants to incentivise affiliates to promote their brand.
-Commission splitting to allow affiliates to collaborate (e.g. Affiliate A creates great content, yet is not too adept at generating traffic, whilst Affiliates B is a great SEO & C has a significant social following. Affiliate A will be able to approach B & C to offer them a percentage of the commissions raised if they distribute his. This will be done trustlessly via a smart contract on the platform.
-A market where freelancers will be able to pick up copywriting, translation, design and video creation gigs in exchange for a share of commissions generated by that content.
RefToken resolves the ‘chicken and the egg’ problem that faces all start-ups, investors want to invest in companies with rapid user growth, yet user acquisition is extremely expensive (with costs increasing exponentially). As blockchain dApps start to be released in their thousands an inevitable drive for mainstream user acquisition will ensue (building unicorns takes many millions of users). RefToken will connect developers with the marketers who will promote their app in a risk-free deal as affiliates will only be paid on successful user conversion (e.g. a sale, sign up or deposit).
At a lower level RefToken leverages the Ethereum platform to solve issues with the incumbent affiliate platforms. These include: affiliate fraud, merchants withholding or delaying commission payments and restrictive conversion requirements.
RefToken’s community believes that RefToken will succeed as while the current model that dominates online marketing is broken, backers and investors in projects will always push developers to grow their user base and generate higher revenues. This is often a harsh wakeup call for technology oriented teams who have little experience in marketing and will need to rely on third parties to execute this function, suffering from market inefficiencies that cost them 50% user growth every 3.8 years.
The core team has decades of experience in online gambling (on both affiliate and casino sides of the fence), RefToken was conceived bottom up as a solution to real world problems that have plagued the industry for the last 15 years, and will prove to be a classic example of blockchain tech providing an elegant solution to an old problem.
RFR tokens have a real-world utility and are used to pay affiliates and fund campaigns. It is not possible to use the platform without buying RFRs, ensuring that they have a real-world functional value.
Jan Sammut, CEO of Reftoken, said:
“RefToken democratises marketing at a global scale with its pay-per-performance model, allowing businesses of all sizes to collaborate with the marketers that can make their projects mainstream in a risk-free manner by eliminating the possibility of negative campaign returns.”