ICO Spotlight: Interview with Barbara Sołtysińska, CEO of indaHash
This post is part of the ICO Spotlight, a series of posts with the teams behind the different projects covered by Coinschedule.
Hello Barbara, thanks for speaking to us today. You guys are launching IndaHash Coin, and we will talk about that in a minute, but first let’s talk about IndaHash because it’s important to highlight that IndaHash is already a very successful product. So tell us a bit more about IndaHash, what is it?
The indaHash story started in 2014 with the idea to automate the collaboration process between influencers and brands.The idea was to create a technologically advanced app, where the entire campaign process – including but not limited to: the negotiation process, creating content, and payment matters – would take place.
Let me summarize our accomplishments:
- Our team has grown from 6 people to over 130 people and we run offices in 7 countries
- 295% growth in sales 1Q-3Q (2016 vs 2017)
- Since we launched indaHash we’ve gathered more than 300,000 influencers from 70 countries in our app
- Generally our clients are Fortune 500 brands such as Coca-Cola, Mastercard or McDonald’s
Great, and so what is the idea behind IndaHash Coin?
We have received many questions from influencers regarding using and creating their own cryptocurrencies. So we decided to introduce an easy to use ecosystem to solve real problems such as long-term payment dates (influencers often have to wait even 60 days for the payment). Upon receiving payment the use of personal data and payments are limited because of the high-cost of international money transfers. indaHash Coin removes these inconveniences. Furthermore we create unique ways for brands to exchange their limited edition products and special access to influencers in return for indaHash Coins, held by influencers. We call it “Pay-With-Fame”. Nowadays it’s a crucial part of every marketing strategy to involve influencers as trendsetters for product reviews and we are creating a scalable solution for this specific need.
The indaHash Coin is a universal cryptocurrency payment structure available to social media influencers, their audiences and brands. indaHash is introducing an ecosystem that enables influencers to create their own cryptocurrencies, which would add value to the activity of their audience. With the introduction of the indaHash Coin, we will solve a wide range of issues and challenges between influencers, brands and audiences, while allowing our network of global influencers to play a part in the rapidly growing cryptocurrency market.
What is unique about indaHash Coin is the fact that indaHash will constantly buy back its own indaHash Coins to pay influencers for campaigns. So, indaHash will create and drive the growing value of IDH. Furthermore, the indaHash Coin value should reflect wider influencer marketing industry conditions and it’s commonly known that influencer marketing is the fastest growing media segment.
Here are some of the uses of the indaHash token:
How do influencers get IndaHash Coins?
indaHash Coin will serve as a utility token creating a decentralized, community-driven virtual economy inside the indaHash app. The token will be available to brands, influencers, and audiences.
Using indaHash Coins, brands can pay for marketing campaigns with influencers. So influencers will receive indaHash Coins for accomplished campaigns with brands.
An influencer can use the collected indaHash Coins to buy the brand’s products and receive discounts when shopping, along with early access to novelties. The influencer can also use these tokens to create his or her own token and use these to increase audience engagement by rewards and gamification. Or, the influencer can choose to sell the indaHash Coins to indaHash itself or on cryptocurrency exchanges supporting the token.
An influencer’s audience can use the collected tokens and exchange them for exclusive actions, for instance, customized prizes, closed meetings and social activities.
How much of the Indahash Coin will be distributed during the ICO?
80% (320 million IDH) of all coins (400 million IDH) will be available during the pre-ICO and the ICO.
A maximum of 20% of the total supply of indaHash Coins will be used to engage and educate existing and new influencers.
Can you tell us a bit about your team?
Of course. Our team consists of more than 130 people and has a wide range of expertise in technology, marketing and communication. Currently we employ people in 7 countries (Germany, Poland, USA, UK, United Arab Emirates, Singapore and South Africa). The team creates specialized and scalable solutions for the largest brands and media agencies around the world. With IndaHash Coin we plan to expand our business to local and smaller brands that will also be able to work with influencers in a more automated way.
Barbara, thank you so much for your time, and good luck with the ICO.
Thank you Alex!
For more information please check https://indahash.com/ico