What is RefToken (REF) Crypto Beginner’s Guide
Many developers have moved away from dedicated currencies on the market and instead have begun to create platforms and services that will offer solutions and features for end users. The cryptocurrency world is now seeing anything from streaming services to medical archives supported by the blockchain, and decentralization in many different industries is taking off. RefToken has been developed to support the marketing and distribution of these apps and services.
Problems in Marketing
The developers of RefToken have pinpointed several problems that app developers encounter with their new and improved blockchain platforms. Developers tend to lend their concentration to the nuts and bolts of development, and because of this, marketing the use of their apps is sometimes neglected. The basic thought process is that a well-crafted, reliable platform will naturally accumulate users.
This isn’t the way it works, however. Regardless of how great an app is and how alluring its services might prove to be, users simply will not make use of an app that they’ve never heard of. Costs have also been a struggle, as services have become more expensive for users in recent years and even early adopters of an app or platform will be put off if they see that it is struggling to attract additional users.
Affiliate marketing has proven to be a successful away to curb these issues, but its efficacy has been challenged by delays in affiliates receiving payments, affiliate fraud, and disputes between affiliates and brands that cause troublesome chargebacks.
RefToken is stepping in with their affiliate marketing platform to solve these problems. By utilizing the Ethereum blockchain, RefToken is going to redefine marketing spaces to push apps into the mainstream. Smart contracts will assist in ending disputes during the conversion process, and conversion data, as well as revenue, will be held on the blockchain for transparency. This will allow affiliate accountability and brands to locate fraudulent behavior and hold the participants responsible. Finally, RefToken will allow for immediate commission payments, thus removing the frustrating problems caused by cash flow issues and payment defaults.
The platform token that will be sold at launch is the ReferralToken (REF). Only a limited supply will be offered. While a brand can use the platform for free to track in-house activities, fees will be charged depending on the percentage of commissions. RefToken believes that offering a free use option for the platform will encourage adoption.
A commission sub-token, COM, will be used for publisher costs that trade in fiat currencies. It is a stable-coin that will protect affiliates from fluctuations in the market. Brands will use REFs to purchase COMs.
Platforms driven by cryptocurrency seem like a natural evolution of the blockchain, but with their popularity growing, it isn’t second nature to many developers to concentrate on how to reach a wider distribution audience. Unfortunately, these applications will not promote themselves. RefToken has a plan to solve existing problems in affiliate marketing to help these platforms flourish in the future.