MediaToken wants to pay Instagram bloggers with cryptocurrency

MediaToken, a project from BANKEX, is now accepting applications from Instagram bloggers to raise funding for their channels using blockchain technology.

According to the homepage, MediaToken will allow users to “raise money to promote your Instagram account or invest in future Instagram celebrities! The blockchain technology will transform the wretched Instagram market and make it more transparent and profitable.”

Igore Khmel, CEO of BANKEX, said: “The challenge faced by Instagram bloggers is the limited sources of financing and the non-transparent ethods of pricing. For example, some of the users get millions of subs and start earning up to $500,000 per post.

“But the income gap among bloggers is huge: some have millions of subs while some are dreaming for a few thousand. But bloggers, who have fewer than 100,000 subs, can be more appealing to some advertisers than accounts with over 1 million followers.”

The service works via asset tokenization, with blockchain technology processing the account data and estimating its value and how much funding it might attract. MediaTokens are then listed on the BANKEX Exchange and investors can purchase them.