Introduction
Social media was birthed with a consciousness to create an environment where people from all walks of life: regardless of location, race or gender can interact.
Since the advent of Social Media, Information and Communication has evolved rapidly in recent years.
This rapid evolution can be attributed to the introduction of mobile technology. The vast adoption of mobile devices by the populace, which has aided social media become an integral part of everyday life.
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Social media has proven to be an integral platform for interacting and staying in touch with family and friends: whether it is posting a status on Facebook or fitting a thought into 140 characters on Twitter or posting a picture of vacation on Instagram, the connectivity that social media brings cannot be overemphasized.
However, in recent times the importance of Social Media has transcended from mere family and friends interaction to a large market for trading of goods and services, which can be attributed to its large population which boasts of over 3billion active users.
Social media has made it easy to interact and organize people for whatever conceivable goal, be it organizing a music show or a conference, or a gig.
With the world at the cusp of going fully digital, it is only imperative that companies and organisations are turning to Social Media networking rather than the traditional methods of trading such as handbills, billboards and one-on-one marketing.
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Popular and seemingly upcoming organizations are known to partner with Social media influencers to provide exposure to brands and products and foster interactions between social media users to facilitate the sale of good and services.
An Influencer is popular, sometimes a celebrity and takes advantage of his social standing to exerts very strong influence on social media users to encourage the exposure of brands, and the sale of good and services.
The Problem
Advertisement and marketing is largely dependent on the number of people that is reached, however, in most cases, having large numbers alone does not guarantee success.
For instance, on a social media platform a celebrity or influencer has millions of followers on his page, which is a good sign.
However, it should be noted, that these set of followers comprises of different people with varying interest too. From men to women, boys to girls, students to workers, Entrepreneurs to employees: the dividing line of interest is crystal clear when these followers are examined carefully.
This varying class and interest is the bottleneck, which hampers proper advertisement and pose a problem of promoting a product or service that is of general interest.
For example, a company who decides to promote weavons and makeup kits via that influencers, cannot conclude that advertisement was successful, just because a large audience was reached, it is obvious that the above products would appeal to only females which might just be a small fraction of the chunk of followers.
The Solution: PATRON
Patron is a platform that is built on blockchain technology, which bridges the gap between organisations, influencers and their followers.
Patron exploits the model of Airbnb's sharing economy concept and the social media model to effect lucrative advertising and marketing models, aiding influencers to tokenize their ability to exert influence on the behavioral patterns of their followers.
Patron and Blockchain.
With blockchain being incorporated to every sphere of life, it is no surprise that Patron follows suit.
Patron employs blockchain technology to eliminate the need to employ payment channels that are hosted by third parties. Blockchain technology offers an escrow to secure funds until both parties (Influencer and sponsor) are satisfied with the proceeds of the transaction.
Blockchain technology guarantees the privacy of the sponsor and influencers by ensuring that transaction is only between both parties.
Blockchain technology returns the total control of financial resources and proceedings to influencers and sponsors only void of any input from third parties.
Blockchain technology also offers an impregnable record keeping system for the safekeeping of invoice, receipts and all financial records.
Benefits of Patron
1. Defined Followers
Patron enables influencers to sustain a structure of having followers with similar interests, hence organisations no longer have to bother about heterogeneous target audience and can utilize resources maximally, by transacting only with influencers whose follower-base suits the demographic category o the products or brand to be promoted.
2. Healthy Environment
Patrons incorporation of blockchain guarantees safe record keeping that cannot be altered, and as such everyone influencer on the platform has a track record, making it easy for sponsors to transact with influencers with good reputation.
This would also promote a healthy environment and rid insincerity as influencers would always want to keep a high reputation.
3. Information Exchange
Patron fosters peer-to-peer exchange of information, thereby eliminating the need for third-parties or middlemen which are not trustworthy and can impede the privacy of parties involved in a transaction.
4. Security of Funds
With the blockchain-powered escrow, Patron ensures that the issue of influencers not being paid after meeting targets is eliminated and also funds can be returned to sponsors if influencers faults transaction agreements.
5. Low Cost
Patron employs smart contracts within its ecosystem to facilitate transactions, this has invariably reduced the cost of sharing information by eliminating extra charges from centralised channels.
User Types and benefits derived on Patron.
1. Influencer (HOST)
These are users on the Patron platform, employed by sponsors to represent their organization and promote a brand or product over a period of time.
Benefits
- Privacy of influencers is guaranteed as there is no need for the unsafe submission of credit card details and personal information
- Guaranteed payment, when target or deed of agreement is met
- A space to advertise distinct qualities to organisations in a time when there are multitudes of influencers
2. Sponsor (GUEST)
They are organisations who employ influencers with the homogeneous audience that suits the demographic category of their brands or products.
Benefits
- Low advert fee
- Quicker and more defined reach to target audience
- Access to reputable influencers
3. Followers (FANS)
They are followers of the influencers. they support and are loyal to the opinions and actions of the influencer. They are a defined group with similar interests.
Benefit
- Access to beneficial products
Patron Business Model
1. Social Networking Service (SNS):
Patron acknowledges that the days of celebrities being the only influential people are over. Since the wide adoption of social media, ordinary individuals equipped with Social Networking services can earn the trust of people, build connection with them and have them as followers and exert influence on their behavioral patterns and decision making.
2. Sharing economy:
In this model, companies and organisations pay ordinary individuals to do what they do for free: Creating contents for their followers oven an agreed period of time. (in respect to the product, brand or services of the sponsor)
PAT TOKEN
Those is the official token of the Patron Platform. If is an ERC-20 compatible token that serves as the standard currency for all transactions within the patron ecosystem.
PAT token can be employed to:
Fund transactions.
Reward active and engaging followers.
Organize contests and Events.
Patron Community
Patron Live
This is an application that fosters the interconnection of different applications such as Facebook, Twitter, Instagram etc to allow followers stay in touch with their influencers from one app rather than downloading different applications.
Patron Academy
This fosters the assembly of various influencers and social media enthusiasts to encourage learning and sharing of ideas.
Followers can join the academy by paying a minute fee using the PAT Tokens, so as to undergo trainings, as a certificate would be issued on completion.
*Patron Crowdfunding
*Patron Messenger
Patron DApp
Patron DApp version is available, it is an Influencers Sharing Economy platform. Strategically crafted for easy access on mobile devices.
Token Sale
Road Map
The Team
Application and Use Case.
Application in Football
As long as football is played, football kits would always be on demand: as it serves as a means of identification of players on the pitch and is a regalia to fans who boasts bragging rights.
Different designs are churned out yearly and the trend would continue in that line as it has remained so from time immemorial.
Use Case
Fiky is a sports wear designing company that kicked off a few years ago, however it has noticed that grassroots football in Africa has not really had much sponsorship and cannot acquire top notch jerseys like Nike and Adidas, so Fiky decides to donate the African Football Market.
However, be needs a strategy: He needs to create awareness of his sport gears.
Fiky accesses Patrons platform and comes in contact with "Godwin": an influencer who is totally immersed and fascinated in African grassroot football and has established followers due to his frequent supports of their tournaments and competition.
Fiky open a deal with GODWIN for year, to promote their brand, in no time Fiky started making supplies and deliveries, now Fiky sportwears has dominated African grassroot football.
Conclusion
Patron came just at the right time, when the social media sphere has been flooded with multitudes of influencers, some true to their craft while other are not. However, Patron has helped to give structure and order to the influencers market by categorizing them into areas of specialization based of similar interest of followers.
Patrons incorporation of blockchain technology seems to be the icing on the cake, they have been able to proffer solutions to insecurity of funds, privacy of influencers and sponsors a d cheaper and efficient information exchange via smart contracts.
Founders Video
For More Information
Patron Website
Patron Whitepaper
Patron Telegram
Patron LinkedIn
Patron Facebook
Patron BitcoinTalk
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