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CoinFox continues to overview interesting blockchain-based products. Today it’s the time for the Snovio – the first decentralized platform for collecting potential clients contact data (so called ‘leads’.)

 The most effective means of internet marketing is supposed to be the attraction of the clients called ‘leads’ to the customer’s website (the whole process is known as ‘lead generation’). Leads are the website visitors who have not just come via a link, but have also provided their purchase request or completed a registration form. Usually lead generation services are offered by centralized platforms that provide their customer with the contacts of potential clients after having studied the peculiarities of his business. However, these contacts are often outdated and “potential” clients are not part of the target audience of the customer.

 How the problem of clients’ data obsolescence and the lack of its source transparency can be solved? Snovio’s team, first decentralized service for lead generation, suggests its own answer to this question.             

 Blockchain + crowd-collecting + economic incentive

 This is the formula proposed by Snovio’s founders. The Snovio platform marries the interests of businesses (the buyers of the data) and data providers (contributors) from all over the world. For that purpose Snovio uses blockchain technology in order to provide transparency in revenue distribution among participants that complete the databases with efficient leads.

 So, the main actors are:

 Platform serves for both contributors and buyers. It works on the blockchain and smart-contract – instruments that guarantee a fair distribution of revenues from data sales among the contributors.

 Contributors refill the database with new leads contacts. They also update the obsolete information. Snovio saves every activity of contributors in a history log and demonstrates which data turned out to be the most useful and sought. This is considered in calculation of the reward paid to a contributor after the data is sold.

 Customers set the criteria for the search of the needed leads. While buying leads they will be able to check the origin of the contacts, see how many times this data was bought and understand whether these leads were useful for another business or not. Such transparency is enabled by Snovio’s blockchain. Whenever information in a purchased lead is updated, customers are immediately notified.

 Token is used for internal payments on a platform as a reward that incentivizes contributors to constantly complete and update the database. The amount of tokens is constant – 2,5 bln. After adding new data to the database, all contributors receive internal credits that can be used within the system.   

 The platform will also function as a marketplace. The customers will no longer have to carry out the search by themselves. They will be able to place an order for search inside the platform that will be performed by an agent. The agent can use his own tools or Snovio’s functionality to search in social networks and catalogs. The agent will be further rewarded with ERC20 SNOV tokens for the work performed and approved.

 The approach, suggested by Snovio, is an alternative to the current practice. “Our mission is to change the traditional approach to lead generation by introducing a new one that takes into consideration all tough requirements to the quality and relevance of the information. We also want to transform the approach for working with data suppliers, as we believe that the quality of data will be higher if contributors are incentivized to keep databases up-to-date”, explains the founder and CEO of Snovio Alexis Kratko.

Token sale and project perspectives

 Snovio is functioning as a marketplace for customers since May 2017. As of this writing, Snovio’s database contains more than 400,000 unique leads. In autumn 2017, the project aims to expand the database and grow it to 10 million leads by April 2018.  

 The platform is going to launch the token sale that will start on October, 3 and run till November, 3. According to the Snovio team, the funds will help the project to organize the economics in a more effective way. In particular, the token sale will attract more contributors, who will bring new leads’ data, to the service.

 Snovio plans to issue 2,5 bln SNOV tokens, and 60% of them will be available for purchase at a base price of $0.01 per token. 28% will be reserved for the team, 10% more will be used to incentivize the early contributors, 1% will be directed to advisers and 1% more – for the project promotion within bounty campaign. SNOV token is created on the Ethereum blockchain but the crowdfunding will be accepted in all main cryptocurrencies (Bitcoin, Ethereum, LiteCoin).

 The project is aiming to attract up to $15 million with 1,5 bln tokens being sold. These funds are intended for improving the infrastructure, for attracting contributors that, in its turn, will enable the quick growth of the database and for aggressive marketing and promoting the idea of decentralized lead-generation.  

 Starta Accelerator, an American accelerator for East European projects, guarantees the appropriate expenditure of the funds. Project advisers are: Tamoaki Sato, Starbase founder, Alexei Girin, venture capital investor and founder of Starta Capital, Kairat Kaliev, founder of Cross Coin and Alexander Borodich, founder of blockchain-platform Universa.

 CoinFox wishes the project good luck and suggests all interested reviewing the Snovio’s white paper!