Blockchain Platform Signs Deals To Boost Profitability Of Social Media Influencers

A Blockchain-based platform which aims to boost the earnings of social media influencers by eliminating their reliance on middlemen has forged several new partnerships ahead of its launch.

"Influencers" are defined as contributors who have large followings - sometimes extending into the millions - on social networks such as Instagram, YouTube, Twitter and Facebook.

Companies who want to forge sponsorship deals with influencers would find it easier to get in touch.

In some cases, it would also be possible to acquire influencers in a permanent deal.

At present, Patron claims as much as 40 percent of an influencer's earnings is paid to intermediaries, but the Japanese company believes stars and their sponsors could realize considerable savings on its platform.

MediaToken enables bloggers to promote their accounts and boost their advertising revenue, while investors have an opportunity to invest in an influencer's account early and enjoy larger dividends later.

Atsushi Hisatsumi, Patron's CEO, has called the deal "Extremely important" for the company - as BANKEX's cutting-edge technology will help in its quest "To bring the most robust Blockchain-based influencer marketing products to market." He told Cointelegraph: "We are excited for this partnership and for what the future holds for us."

"Anyone can become an influencer" Mr Hisatsumi has experience of being in the influencer realm.

He believes Patron is democratic because anyone around the world has the opportunity to connect - with local influencers given the freedom to work internationally and overcome language barriers.

At the start of April, Patron was the lead sponsor at the Global Blockchain Forum in California - with the start-up achieving critical acclaim from judges.