Returning Power and Freedom to Creators and Makers
With a tag line of ‘Returning Power and Freedom to Creators and Makers' the BOOSTO platform will facilitate decentralized applications that serve as an ecosystem, allowing developers to build DApps (decentralized applications) interacting with influencers and their networks, brands, consumers and social media platforms. The BOOSTO whitepaper states: “With an open ecosystem adding developers to the mix, they can develop smart contracts, integrate and improve both data and payment on blockchain with existing social network data, and more.”
The problem with the social media influencer model
Also in its whitepaper, BOOSTO emphasizes that the problem with the existing content and influencer marketing model, driven by advertising, provides ‘wrong incentives’ and ‘poor economics’. It says that although lots of companies are looking to change content creator problems, there are a lot of influencers who have a large number of followers but few technical capabilities that allow them to develop applications.
The rise of crypto influencers
BOOSTO is a project from BoostInsider, a ventured-backed Artificial Intelligence, big data company based in San Fransisco. In an excerpt from Blockchain Interviews, CEO of BoostInsider, Heidi Yu, who is also known for her social media influencer status, ‘Crypto Heidi’, said: “We see the crypto industry, especially the crypto topic, on YouTube is growing like crazy, especially last year and early this year.”
A date for the launch of the ICO has not been confirmed yet. The ICO token price is set at 1 BST = 0.0154 USD (0.00007000 ETH). The fundraising goal is 6,600,000 USD and the total tokens is 1,000,000,000. There is a presale bonus of 25 % and a personal cap of 0.1 ETH/100 ETH which applies.