ICO Review – SocialCxN
After reviewing 29 token announcements, we’re choosing SocialCxN as our ICO of the Day. SocialCxN is a blockchain Influencer Marketing Platform.
Marketing is shifting from mainstream media to social media, yet marketing ecosystems have not evolved to meet this new environment.
SocialCxN aims to solve this by building a platform where influencers can monetize their content and interactions, and brands can achieve greater efficiency in their marketing campaigns through greater transparency.
Brands would be able to have a more data-driven approach to marketing, being able to see influencer ratings, performance metrics, and more.
Influencers could create their own reputation, monetize content, and even ideas.
SocialCxN already has an existing product which can be seen at socialcxn.com. They claim big name clients including Pepsi, Nestle, and 7up, although these claims are difficult to verify. They do seem to have an MVP, which you can download and play with today.
Overall, we like SocialCxN’s premise, and they are addressing a real need, although we did find their marketing material and whitepaper quite difficult to understand.
SocialCxN’s CEO Yasir Shirazi has good experience in social media and is the founder of Parhlo, which seems to a succesful social news platform targeting Pakistan. The other members of the team have fairly decent professional experience in product development and engineering, although we would not call this team all-star.
The SocialCxN token will be the utility token of the platform.
There will be a hard cap of 20,000ETH and they are selling 60% of their tokens.
The success of SocialCxN will depend on its ability to gain traction with brands and influencers. SocialCxN claims to have already have big name clients, and the founders’ success with his previous social media company Parhlo may help him with this new venture.
However, we still see plenty of risks with this project. The marketing messaging is not very clear, which makes it difficult for mainstream people to understand this ICO. We also don’d see as much hype around this project as we’d like, especially since this project is about social media marketing!
SocialCxN is an interesting project addressing a new market – namely social infuencer marketing. This new industry has its own set of unqiue needs and requirements, which cryptocurrencies, smart contracts and blockchain may be able to solve.
We would like to see more hype around this project, but due to its strong premise, and its founder’s experience in the social media space, this is definitely an ICO to watch.
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