KOLnet to Redefine Marketing on Syscoin

The blockchain landscape has drastically changed in the thirteen years since Bitcoin’s inception, but the central tenets of what this technology has to offer remain a guiding philosophy for the evolution of the Syscoin Platform. We believe in decentralization, trustlessness, and the accountability they confer, which offer an alternative path for the empowerment of the individual and ultimately a more equitable society. It is why we build on the foundation of the Bitcoin network's security, and use this as the basis to make advancements that ensure our smart contracts and rollups will share the same advantages. These values have the potential to improve a wide array of industries by making them not only more efficient, but also transparent. Marketing is one sector in particular that can greatly benefit from this, especially within crypto, which is why we are proud to introduce our latest partner, KOLnet.

 

KOLnet is the world’s first marketing launchpad introducing Initial Marketing Offerings or IMOs, their utility token, KOL, and enforcing accountability via Proof-of-Marketing. KOLnet connects fledgling projects with micro KOLs (Key Opinion Leaders), and unlocks presale tokens for social media marketing. The benefit of IMOs and Proof of Marketing prevents whitelisting for key opinion leaders, while also removing barriers for them, and allocating tokens based on the marketing value they actually produce, and ensuring projects are raising funds by verifiably building their communities. KOLnet does this through its Web3 innovations, which enables it to guarantee consensus by tracking Proof-of-Marketing and leaving validation and settlement to permissionless token pools.

One of the classic problems in calculating the value of marketing is that results can be difficult to quantify and are often skewed through the wide use of bots. KOLnet’s Proof-of-Marketing solves this problem by making it a hard activity that can be measured and used to understand its actual impact while also deciphering the difference between organic and bot activity. KOLnet’s algorithm’s allow them to effectively track organic activity across a number of social media sites like TikTok, YouTube, and Twitter, verifying it for completion prior to settlement. They also use this to form a ranking system that rewards responsible KOLs and finally settle to maximize results for projects who are able to easily read the results and take AI advice based on them through a seamless user interface.

Of course, projects and key opinion leaders are not the only ones who stand to benefit. It is decentralized and open so anyone can stake KOL to earn presale tokens. KOLs can also be used to directly invest in IMOs and receive project pre-sales, which in turn helps raise the value of the projects themselves. In order to protect KOL holders, KOLnet only onboards projects it has verified. 

KOLnet stands to redefine marketing, change how projects launch, and unlock the world of micro-KOLs through their innovative use of IMOs. KOLnet is a multichain network already compatible with Ethereum, Polygon, Polkadot, Binance Smart Chain, Solana, and Cardano. Like Syscoin, KOLnet is building for the future, and their integration into our network is a recognition of that fact. As our rollup suite, Rollux, nears its rollout, it is integral we host beneficial projects like KOLnet who will only help ensure the next generation of projects who will launch on our network have the resources and can earn the trust needed to be successful. KOLnet will help lead the way by launching on the Layer 2 of our NEVM chain once released.

 


About KOLnet

KOLnet is an innovative, KOL exclusive launchpad that allows early-stage projects to optimize their Web3 marketing through Initial Marketing Offerings. KOLs create value by bringing adoption and awareness of projects to their followers and are incentivised with early access to presale tokens. Initial Marketing Offerings (IMOs) will allow projects to advertise their marketing requirements and KOLs will then partake in these IMOs by providing marketing in return for allocation.

The KOLnet DApp, as well as simplifying the management of KOLs, will also provide transparency and confidence through its KOL ranking and Proof of Marketing. This benefits both Projects and KOLs and also allows for Micro KOLs, who have previously been underutilized, to become more involved too.

In short KOLnet is looking to revolutionize Web3 marketing.

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About Syscoin

Syscoin is a decentralized and open-source project founded in 2014 whose NEVM blockchain combines the best of Bitcoin and Ethereum in a single coordinated modular platform.

Syscoin is ushering in the next step in the evolution of blockchain technology, providing Bitcoin's proven security and Ethereum's Turing-complete programmability elevated to true scalability via Optimistic, ZK-Rollups, Cross-chain ZK-Rollups and other Layer 2 technologies.

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Aug 18, 2022 by Syscoin Foundation