There have been a number of different content cryptocurrencies so far, including TRON and other major content networks. While these currencies have gained massive support, they are megalithic undertakings that do not have a clear use case just yet. However, these supporters are correct in identifying content as a prime industry for blockchain to take over.
David Gabor is a 21-year-old entrepreneur who has been in the technology world for over 9 years and has focused on developing strong user interfaces and user experiences through technology product design. His most recent venture is Starflow, which utilizes an ERC20 token and an off-chain token to help regulate the influencer marketing industry.
The concept stems from the Bill Gates’s idea that “content is king” and content creators should be rewarded. In the Starflow ecosystem, brands are able to sponsor content creators via the ERC20 StarCoin token and viewers can support content creators via the off-chain ProtoStar token. Both systems focus on incentivizing people to be quality content creators and rewarding them for creating value for society.
Many other content coins do not take into account that marketing dollars and brand endorsements are the money that makes the content world go round. ABC and NBC are only able to make our favorite television shows, because brands pay premium dollars for commercial slots. Websites produce content in exchange for banner ads and sponsored content. Influencers are the same way, in that they can only afford to make social media content if brands are paying them to.
In order to execute this project, Gabor has already raised more than $3 million and is launching his ICO pre-sale on March 5th, 2018 to begin raising more funds. These funds will be dedicated to building this new digital economy focused on content creators. Gabor says, “We are investing millions in reinstalling content as King, empowering creators to regain control and to be able to benefit from their value creation, whilst presenting a superior experience to followers in terms of content consumption, saving time and ability to get closer to their favorite producers.”
The Starflow vision is rooted in rebalancing the content creation system, rather than purely “decentralizing content” which is what sets them up for success. Influencers are currently fairly hard to get in touch with and much of influencer marketing has to pass through influencer brokers. Starflow enables all brands to have easy access to content creator information and engage influencers with smart contracts. Enabling money to more easily enter the market helps guarantee that content creators have as much funding as needed.
Furthermore, the off-chain token is a unique concept for a cryptocurrency company to help empower user interaction, while limiting constraints on the blockchain. ProtoStar lets content creators get monetary support regardless of their size. If a viewer enjoys a specific content creator they can instantly give them ProtoStar to support.
For content creators, they are able to make “smart property” out of their social media identities. The user interface provides comprehensive data analysis of followings and suggestions on how to better improve engagement with audiences. This fits in line with Gabor’s background in user interfaces and trying to build technology that empowers people to do their best work.
In order to realize this industry vision, Gabor is focusing on developing the infrastructure required for the influencer marketing space to fully develop. He says the space is currently dominated by middlemen and business people trying to take money from brands, but poorly compensating influencers. Without a formal infrastructure for brands and influencers to communicate directly with full trust, the industry will stagnate. This is what makes the ERC20 token such a valuable piece of technology for regulating influencer contracts.
As Gabor and the Starflow team continue to grow they have their eyes set on amassing more brand partnerships to ensure sponsorships for any content creator that wants to monetize their following. With more brands coming on board, the token will likely experience an increase in usage and trading volume, which could be a positive signal for the token’s long-term success. Whether Starflow revolutionizes the entire content space is to be determined, but at their very least their targeted value creation has the promise to change the business model for influencer marketing.
