Influencer marketing on traditional social media platforms simply works; generally speaking, we trust the people we follow more than brands.
However, ad revenue on these platforms is not shared with the creators and the only way for them to receive sponsor deals is through influencer marketing platforms that have opaque terms, inefficient methods of payment, and generally inefficient processes.
Moreover, attribution on the traditional web is broken. There is no trusted third-party that can verify a transaction was the result of an impression.
Our Bounties product connects agencies/brands with creators for sponsorships.
A sponsor simply creates a bounty with a content direction and budget, escrows funds (any whitelisted ERC20 token), and uses their network and our own to invite creators to submit bids.
Once a bounty is live, it will be shown on our dashboard for creators to submit bids.
To submit a bid, a creator simply sets the content for their post, optionally including any of the attachments specified by the sponsor. We also provide an “AI Assist” button that uses the new ChatGPT API to assist with the creative process. This integration takes content direction from the bounty as well as the creator’s recent Lens posts for style and tone of voice, and provides copy for the creator to use in their post. We plan on integrating image and video generation soon.
Finally, the sponsor will look through and approve the bids they like. Once a bid is accepted, the post is created on behalf of the creator, goes on their feed, and the agreed payment amount is transferred to the creator’s wallet address. We can see the winning bids in the bounty’s page.
For sponsors that have an on-chain product to promote, we have an attribution engine that can precisely say which creator’s bids led to on-chain sales - and how many.
We do this via a combination of our client-side SDK for partner applications, cloud infra for blockchain event indexing, and backend processes for report generation.
For example, we attribute NFT sales during live ClubSpace events using the same process.
Using the MadFi infra for verifiable attribution of on-chain conversions/sales, we can improve the payment terms between sponsors and creators.
Read more on how we think this will change the ad tech landscape.
We built Creator Badges as a way for creators to identify their top fans, using NFTs as badges that track and reward engagement.
Simply put, Creator Badges are dynamic, non-transferable NFTs that accumulate points as the token holder interacts with the creator’s social posts. They are dynamic in the sense that the metadata changes as the holder accumulates more reward points.
As decentralized social protocols like Lens and DeSo move our social activity on-chain, we have the added ability to execute smart contract logic during specific interactions. In the case of Creator Badges - those that have actual value.
For example, collecting or sharing a sponsored post brings value to the sponsor because it signals that someone was interested in the content being promoted.
When a creator announces their latest work in a post, they can amplify its reach by incentivizing their followers to re-share and comment on the post.
Both of these examples would accumulate reward points for the follower on the associated Creator Badge.
These points will be redeemable for a variety of physical, intangible, and on-chain rewards that will be rolled out over time, starting with MadFi swag at our NFT.NYC party.
Finally, although Creator Badges are non-transferable, they are rentable. The smart contract implements the
ERC4907 standard, so a holder can grant another account temporary access. We envision that as the creators token-gate their exclusive content or experiences, badge holders can monetize their tokens by loaning them out to others.
The very first Creator Badge collection will go live this Wednesday, March 15th at 11am EST.
For this genesis collection, we’ll be airdropping badges with retroactive reward points for
early Bounties users (those who have created bounties or gotten bids accepted)
early Clubspace users
[extra reward points for holders of our Sismo ZK Badge]
The snapshot will be taken an hour before the airdrop (Wednesday, March 15th at 10am), so anyone that creates a Bounty or gets their bid accepted before then will be eligible for this badge.
Create a bounty here:
After the airdrop, and for the short-term, the only way to accumulate points on these badges is to create bounties or get your bids accepted. However, once our Lens modules are ready and on Polygon, we will be rewarding engagement against Lens posts.
To give a glimpse into our roadmap…
Sponsor/Creator DMs via encrypted messaging protocol xmtp
Private, invite-only bounties
Managed wallet with fiat-onramp
Support for more social media networks (Twitter, DeSo, etc)
Automated workflows for text, image, and video generation
Analytics on creators and their audience for targeted campaigns
Content and payments will be on-chain.
AI will accelerate the creative process.
Online activity on social media will be even more automated.
We are building towards that future, and invite you to go there with us.