PATRON has its roots in Japan, assessing the current trends associated with the cryptocurrency industry and other communities available online. The company is largely influenced by social media. Its main aim is to tokenize social media partly-controlled by the Internet to help bring together brands with the right influencers.
The influencer market has been around for some time now; popular social media influencers are approached or approach firms that have an interest in their work. Working together helps them grow together faster and in a broader scope while promoting each other’s brands. The ones who stand to benefit end up getting more exposure together with their brands. In most cases, it becomes a win-win situation for both parties. Social media, on the other hand, ends up having a more extensive reach than before.
Introducing New Tech Into the Market
The team behind the idea has already started to develop the PATRON platform using blockchain technology. Patron will use a decentralized open source Peer-to-Peer network built on the Ethereum Blockchain. PATRON operates autonomously as a layered application for influencers around the globe, to build and directly engage with their communities. Because it’s Peer-to-Peer, it allows users of the open source software applicationto engage in a far more personalized way than any current centralized social media platforms. It is built on an Ethereum ERC 20 standard with Hashgraph implemented in the above layer.
A statement on PATRON’s website read,
The firm’s objective is to make a global mark at par levels with Apple and Google and bring Japan’s evolving tech and influencer scene to new markets. We have all the resources required to make this dream a reality.
Funding for the project has been ideally divided into various areas:
Global Expansion: The project plans to found itself in the heart of Silicon Valley before spreading out to other regions around the globe.
Product Development: Any products on PATRON will be available on DAPPs and Mobile. The cost of developing the influencer platform, along with any expenses, marketing or advertising costs will be incorporated in this sector.
Toyo Influencer Hub: At this particular section, funds will be directed to influencers and to the mission to find new influencers for the future. Also, engineers, advertisers and marketers are included in this section.
The technical aspects of Patron are as follows:
- Coin is a cryptocurrency of an open-built nature
- PATRON Coin symbol is PAT
- PAT is incorporated on The Public Ethereum Blockchain as an ERC20 token.
- PAT is a new standard measure of a common currency that will be used with PATRON’s Ecosystem.
After raising about 15 Million dollars as per the current count, the PATRON coin distribution is said to be 240 million coins during the ICO. This is a fraction of the total 400 million coins available. 160 million of coins are supposed to be allocated to PATRON and later distributed among the board members.
PATRON’s primary objective is to get influencers the help they need in growing businesses and connecting with like-minded brands. The ideology behind PATRON could easily change how marketing is carried out.