This is something no different from Adnetwork tokens which will also give you some access to date of where your traffic from and where to get more traffic.
How does the team make the token useful in their platform? ARe we able to use the SMT to buy something?
First of all, thank you for the question.
Let me clarify the difference between SocialMedia.Market and Adnetwork.
SocialMedia.Market is a platform, designed for Influencer Marketing.
Influencer Marketing is about content, created by bloggers and published in social media networks like Instagram, Twitter, YouTube, etc. This kind of content gives marketers a wide range of application. From straight forward advertisement of a product to creation of a social conversation around their brand. Influencer Marketing is a growing market, which will reach $5-$10B till end of 2020.
And like any market on the stage of development, Influencer Marketing has several core issues that stagger its development. Being early adopters of the strategy (since 2015), we have experienced these issues ourselves. We have faced fraud, uncertain pricing, high overall fees, complex interaction, and complicated global payments. The general idea behind the SocialMedia.Market project is to solve these major issues with Blockchain and Smart Contracts technologies. This new tech allows to create a safe, transparent, and decentralized platform for managing and measuring Influencer Marketing for everyone anywhere.
From a brief research on Adnetwork, it looks like they are building an “Advertising network” on Blockchain. That’s a completely different business model – they connect advertisers with websites willing to host advertisements. Mainly advertising networks work with banners.
Social Media Token (SMT) is designed to be the currency of SocialMedia.Market ecosystem, facilitating fund transfers between business, influencers or agents. Basically, SMT is the internal currency of the platform and it will ensure transactions, data validity, campaign and contract creation. So, you can easily pay with SMT for influencers campaigns or vice versa.
Here's a short list of advantages SMT will provide to all parties as a single currency:
100% safe escrow transactions based on Blockchain technology
Low-cost transactions with less operation fees
Simplified and fast global payments
Earn rewards by participating in the decentralized dispute solution system
Utility tool for acquiring outstanding marketing services, premium analytics and development instruments