Bounty hunters can now be rest assured that their works will be paid for as the platform escrows the rewards even before campaigns are started. Bountyhunters.io ensures that all hunters are assured of being paid as their rewards are locked up in the smart contracts on the platform.
Advertising has been seen to be the heart of productivity of any business. Aside from other factors that contribute to the fruitfulness of a business or project like genuineness, quality, etc. advertising unlocks the door of the project getting visible to those who need them. Studies have shown over the years that businesses continue to spend more and more as the essence and the effectiveness of advertising have become understood or known. Advertising does not exclude startups that wish to be on top of their games. This article will be focused on the challenges and solutions to advertising for decentralized or blockchain startups.
Blockchain which has been seen to be the technology of the future has hosted a lot of project with great innovations which need to be seen. Some of these startups are existing projects which are based on centralized or inefficient models that want to change to being decentralized as they understand the immense advantages the blockchain technology provides and others are new. All of these startups go through the Initial Coin Offering (or ICO) which is aimed at inviting investors to invest in their project with a view to give Returns on Investment after sometimes. Investors cannot just be gotten like that as they are scattered all over the globe, therefore they need advertising to reach them.
However advertising through some centralized means like putting up ad banners on websites, applications, etc. have proven futile as many internet users now effectively use adblockers on their browsers or applications which has greatly affected those channels. This was what informed bounties with the view that influencers (on all scales) will be able to reach investors more effectively as they are also potential investors. But the present advertising model through bounty programs has a lot of inefficiencies which has caused a lot of challenges for both the advertisers and the bounty hunters.
Disadvantage for the Startups
Through bounty hunters conducted by many centralized bounty managers or companies, startups in most cases overpay as there remains no transparent way to measure the effectiveness of each action performed by the bounty hunters. There remains no way to actually track the action of each bounty hunters and determine if it brings results.
Advertisers or startups pay a lot of commissions to platforms on which their bounties are run. These commissions increase the advertising costs significantly even to the hurt of the project in question.
There are a lot of other disadvantages which the scope of this article cannot cover.
Disadvantage to the Hunters
It remains very hard for bounty hunters (or influencers) as they are underpaid for their works. Sometimes their works are not paid for at all as their works are rejected for not reaching the expected quality which is actually unfair in some cases because the bounty platform is actually inefficient to track their actions or the returns they brought to the project.
Sometimes it is even worse as bounty hunters go totally unpaid because the project they had worked for did not reach the soft cap or the minimum amount of funds required to start the project could not be gathered. This is very common with most bounty managers or platforms. Each bounty hunter has to face the risk of not getting paid if the project they are working for did not reach their soft cap. Many bounty hunters put in much, they go to the extent of spending from their own personal purse just to promote a project because they so much believe in it but if at the end of the day the project they are promoting did not reach the soft cap, they run into a bigger loss, and this is most frustrating of all.
There are many other ordeals that bounty hunters face in the hands of untruthful bounty managers and platforms such as lack of transparency, delays, etc. which needs to be thoroughly dealt with.
Bounty hunters are working for decentralized projects, therefore bounty platforms should also be decentralized, don’t you think?
To the Rescue – Bountyhunters.io
Bountyhunters.io is a decentralized bounty hunting platform which has the interest of both bounty hunters and startups at heart.
Advantage to Startups
Bountyhunters.io platform has enough tools to ensure that startups pay only for works that yield returns. The platform automatically tracks each action of the bounty hunters across multiple platforms such as Facebook, Twitter, YouTube, Reddit, etc. thus startups are assured that only actions with quality are performed and paid for.
The platform also manually verifies the actions of hunters for translation, video creation, and article creation campaigns with the help of trusted team members. There are standards to be fulfilled for any of the campaigns mentioned above if they will be rewarded. Take a look at some standard for content creation campaigns in the screenshot below:
Bountyhunters.io set standards which are higher than any other to ensure quality from any hunter if they will be paid. The platform also charges commissions which are much lower than its counterparts from startups.
Advantage to the bounty hunters
Bounty hunters can now be rest assured that their works will be paid for as the platform escrows the rewards even before campaigns are started. The platform ensures that all hunters are assured of being paid as their rewards are locked up in the smart contracts on the platform. Bountyhunters.io also goes a step further by escrowing 10% of all bounty rewards (according to pricing in ICO) in a more stable coin (eth or BTC) in case of cancellation of the project. This is a security for bounty hunters so they do not need to worry about being paid for their works.
Before any campaign is launched on the platform, Bountyhunters.io performs some verifications or vetting to ascertain that the startup that wants to launch a campaign is genuine. This to keep off scam ICOs and fake teams off the platform and the blockchain generally and to keep the records of the platform clean. The verification is also to ascertain the quality of the startup for a successful ICO.
Bounty hunters are automatically paid out according to their works at the end of the campaigns with the smart contract on the platform. The user dashboard is designed to help hunters interact with the platform easily without help.
Bountyhunters.io is not a new concept, it is an existing, already implemented concept which can be testified of. Investors, startups, and hunters need not worry if the platform is genuine or not as they have already conducted many bounty campaigns which have been successful.
There are many other advantages of Bountyhunters.io to hunters and startups, which can be seen through their: