BOOSTO.io
Decentralized blockchain platform that connects social media users with blockchain community.
BOOSTO.io, founded in 2018 by Chen Wang and Heidi Yu, operated as a decentralized, blockchain-based application store aimed at the influencer marketing ecosystem. The Singapore-based company's primary mission was to empower content creators and influencers by providing them with a protocol to build and manage their own decentralized applications (DApps). This allowed influencers to create personalized stores to sell products and engage directly with their fanbase, fostering a creator-driven economy.
The platform was designed to address transparency and fraud issues prevalent in the influencer marketing space by leveraging blockchain technology. For instance, merchants could use BOOSTO's native token (BST) to access verified and secure data on an influencer's audience engagement, with smart contracts ensuring that payments were released only after agreed-upon terms were met. The ecosystem was intended to serve DApp developers, who were provided with SDKs and APIs, as well as influencers and advertisers. Developers would be compensated based on the transaction volume through their applications, aligning their success with that of the influencers they supported.
Heidi Yu, a co-founder, brought experience as a serial entrepreneur, product designer, and team leader to the venture. The company's business model revolved around the use of its BST token, which functioned as the medium of exchange within the platform. The company also developed BOOSTO Social ID, a system to connect social media users to the blockchain, creating a unique identity across different platforms. BOOSTO raised approximately $5.82 million through an ICO and other funding rounds in 2018. However, according to PitchBook, the company is now listed as out of business as of April 2021.
Keywords: decentralized application store, influencer marketing, blockchain protocol, DApp development, creator economy, BOOSTO token, BST, smart contracts, influencer analytics, social media blockchain, Chen Wang, Heidi Yu, decentralized finance, crypto, influencer monetization, DApp marketplace, social tokens, ICO, creator tools, digital collectibles