Toronto, Canada, 16th December, 2021, Chainwire
$3.4 Million in Funding to Help Build Web3 Platform Enabling Brands to Reward Customers for Social Media Engagement with Community Tokens & Exclusive NFTs
Cultos launches to revolutionize the way brands create and build engaged audiences of fans online. Cultos is the first platform enabling companies to leverage crypto to convert existing customers into active, engaged and influential ambassadors.
While social media has become the leading way companies build and connect with audiences, most companies do not effectively capitalize on the influence of their followers. Studies have shown that company and product recommendations from friends and family are significantly more impactful than traditional advertising or online influencers. Cultos offers any company a powerful new way to unlock this untapped value by enabling brands to create token economies that provide incentives that turn typically passive online fans into highly-motivated nano-influencers.
Online fan discovery and promotions have become critical to marketing strategies across industries — from crypto projects, to consumer goods and even musicians and films. The unique Cultos platform has created the first digital ecosystem that aligns incentives between companies and their social media followers by rewarding users for their support with community tokens and exclusive NFTs.
Cultos community tokens are designed to reward fans as the companies succeed. Fans are rewarded for being early supporters of emerging brands and liking, sharing and posting about them on social media. For example, when artists such as Billie Eilish and Lil Nas X went viral online thanks to followers on SoundCloud and TikTok those users would have been paid for their support as the artists grew in popularity.
“Social media is obviously key for growing brands but most companies struggle to turn passive followers into active and engaged users who put real effort in to help the brand succeed. Cultos is the solution,” said Cultos founder Andrew Yang. “We know it’s the everyday fans — not just influencers with millions of followers — who drive real growth for brands and that’s why Cultos puts the power back in their hands.”
Cultos makes it easy for anyone to sign up and begin earning crypto rewards from their favorite brands. After a simple registration process, users connect their social accounts and then immediately start earning rewards when they engage with companies online. Users are automatically provided a custodian wallet and can pay for NFTs with reward tokens or through a credit card — with no need to set up external wallets or buy other tokens. Users can also exchange their community tokens for fiat or other cryptocurrencies at any time through Cultos.
Cultos and its parent company Authenticiti also announced raising $3.4 million to help build the platform as it prepares for the launch of its CULT token early next year. The CULT token will serve as a critical component of the Cultos exchange where users can swap different community tokens, purchase NFTs or cash out.
Cultos revolutionizes how brands create and build engaged audiences of fans. As the first platform enabling companies to create token economies for their fans, Cultos helps any brand convert existing customers into active, engaged and influential ambassadors. To learn more, visit cultos.io or follow Cultos on Instagram.
- Jake Klein
- Goldin Solutions