mCart : Democratizing Influence Marketing on Blockchain
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What is mCart ?
mCart protocol is a decentralized marketplace/influencer marketing attribution platform that addresses the needs of shoppers, influencers, and marketers by leveraging blockchain. Using smart contracts, marketers, influencers and shoppers will be able to transparently and verifiably collaborate while giving each participant the right financial incentives to participate in the ecosystem.
The Modern Shopping Journey
The path to purchase from discovery to fulfillment is long-winded, with many distractions in between — to the extent that the modern shopper’s journey rarely starts from stores, websites or even mobile apps anymore. Today even marketplaces have a hard time establishing themselves as a destination.
A given shopper has to open multiple windows, make multiple trips and use numerous applications across devices to make a simple shopping decision. The modern shopper’s discovery starts with content, such as social media, magazine articles, movies, videos, and real world events and places — where they should be able to directly shop from. They should be able to buy online, pick up offline, or see offline and buy online. They need to locate products near them and communicate with sales people real-time. They should have fun with social shopping. They should see where the products have been featured, real-time deals & coupons, look-alikes and a 360 degree view of the products, wherever they are, in ONE window.
Influence marketing has been effective in delivering on this expectation by providing shoppers reasons to buy from the sources they trust. At a time when monetizing content has proven challenging for many individuals and organizations with significant influence on culture, leveraging native, authentic, and relevant advertising as a source of revenue can be a life-saver for content producers.
mCarts revolutionize shopping, sales and advertising, especially with an innovative consumer-centric approach to referral or affiliate marketing. The engine processes & optimizes high volumes of data to shorten shoppers’ journey from discovery to transaction in your platform.
Attribution Models and the Advertising Industry are Broken
Despite the fact that influencer marketing is one of the most effective channels for reaching shoppers and the fastest growing due to shopper behavior changes, the adoption of the channel has been full of challenges for both retailers and influencers.
Advertisers Struggle with ROI Of Digital Advertising
According to eMarketer, marketers in North America and the U.K. agree that fraud (58%), viewability (56%) and poorly targeted ads (46%) are among the leading obstacles to programmatic advertising to the extent that, according to Proxima, today 60% of digital marketing spend is still wasted and $37 billion of worldwide marketing budgets are squandered on poor marketing performance.
Affiliate Marketing is Not Upholding Their Promise
Not only most of the attribution models (algorithm-based, first click, last-click, etc.) proved inefficient and inaccurate, the affiliate network practice of directing traffic to “favorite nation” publishers, such as coupon and rebate sites, is contributing to a drastic margin of error in attribution reporting – ranging from 40% to 85%. This destroys the top of the marketing funnel as influencers, whose content drives transactions, lose rewards and the incentive to continue.
A Silent Sales Force Who Makes The Most Sales Doesn’t Get Paid Fairly
According to Forbes, 92% of consumers trust online influencers more than an advertisement or traditional celebrity endorsement. Despite their massive influence in product sales, only a small percentage of influencers (7%) are actually rewarded for their impact.
mCart Protocol
Blockchain technology has been revolutionary by allowing anyone to own and transfer assets across an open financial network without the need for a trusted third party. With the advent of smart contracts on these networks, we can now go beyond financial assets. Building on these characteristics of blockchain, the mCart smart contracts have the opportunity to address the lack of transparency and trust in the retail marketing value chain as well as the undue burden of managing and dispensing value in many small financial transactions and un-leash significant amount of value generation for everybody involved, including the shoppers.
This vision is being achieved by leveraging a series of smart contracts for decentralized influencer marketing attribution on the Ethereum blockchain. Using these smart contracts, marketers and influencers will be able to transparently and verifiably collaborate while giving each participant the right financial incentives to participate in the ecosystem.
Despite the fact that influencer marketing is one of the most effective channels for reaching shoppers and the fastest growing due to shopper behavior changes, the adoption of the channel has been full of challenges for both retailers and influencers.
Advertisers Struggle with ROI Of Digital Advertising
According to eMarketer, marketers in North America and the U.K. agree that fraud (58%), viewability (56%) and poorly targeted ads (46%) are among the leading obstacles to programmatic advertising to the extent that, according to Proxima, today 60% of digital marketing spend is still wasted and $37 billion of worldwide marketing budgets are squandered on poor marketing performance.
Affiliate Marketing is Not Upholding Their Promise
Not only most of the attribution models (algorithm-based, first click, last-click, etc.) proved inefficient and inaccurate, the affiliate network practice of directing traffic to “favorite nation” publishers, such as coupon and rebate sites, is contributing to a drastic margin of error in attribution reporting – ranging from 40% to 85%. This destroys the top of the marketing funnel as influencers, whose content drives transactions, lose rewards and the incentive to continue.
A Silent Sales Force Who Makes The Most Sales Doesn’t Get Paid Fairly
According to Forbes, 92% of consumers trust online influencers more than an advertisement or traditional celebrity endorsement. Despite their massive influence in product sales, only a small percentage of influencers (7%) are actually rewarded for their impact.
mCart Protocol
Blockchain technology has been revolutionary by allowing anyone to own and transfer assets across an open financial network without the need for a trusted third party. With the advent of smart contracts on these networks, we can now go beyond financial assets. Building on these characteristics of blockchain, the mCart smart contracts have the opportunity to address the lack of transparency and trust in the retail marketing value chain as well as the undue burden of managing and dispensing value in many small financial transactions and un-leash significant amount of value generation for everybody involved, including the shoppers.
This vision is being achieved by leveraging a series of smart contracts for decentralized influencer marketing attribution on the Ethereum blockchain. Using these smart contracts, marketers and influencers will be able to transparently and verifiably collaborate while giving each participant the right financial incentives to participate in the ecosystem.
The mCart token will be deployed to the Ethereum blockchain as an ERC-20 token with a fixed supply of 100 million tokens. The token symbol will be mCart. Mavatar will hold a crowdsale process for launch and introduction of the mCart token. Of the 100 million total token supply, 40% will be made available for purchase through the crowdsale process to launch contributors.
The crowdsale will occur in two phases: pre-sale which is set to start in December, 2017. It will be followed by a public sale, which will commence in March, 2018 and is expected to end in April, 2018 unless terminated earlier pursuant to the terms and conditions of the crowdsale. During the public crowdsale, tokens will only be sold for Ethereum (ETH) and we will issue [•] mCart tokens for each ETH. Price will be based on the current price of the ETH, the number of mCart tokens to be sold and the current market environment.
0x08d886d85ce59ccc32f5e7d74a47a61bfa45f684 (dz.talita.channel@gmail.com)
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