It is very refreshing when a crypto application can be described in one sentence. Here it is for Snovio: the company is a specialist in the niche area of lead generation.
Lead generation is the marketing term for finding the right type of prospects and ultimately customers for a given business. Marketers usually know what their target demographic is, but pinpointing it accurately is expensive and often very inefficient.
Snovio has developed a plugin that can digest vast amounts of complex data to identify your target demographic.
So far, it has attracted high-profile users such as Uber, Lego, Lenovo, Oracle and Soundcloud, which is a great start.
After the ICO price of $0.01 per token, SNOV stayed around that range till January, when it jumped from almost $0.03 to $0.42, a roughly 1,500% rise. Even though the price has corrected in recent days, it still over $0.25.
Big Data Marketplace for Marketing
Snovio has created a Big Data marketplace specifically for marketing. This means that large companies can share information they have accumulated and make money in the process.
A company is rewarded when it contributes data to the marketplace and charged when it uses information.
“Significant increases in revenues due to providing customers with the latest information and creating a fully-fledged marketplace of customers’ databases for businesses will be an important result of the change to the work scheme,” commented Alexey Kratko, founder and CEO of Snovio.
This marketplace will be similar to, yet more focused than the one IOTA (MIOTA) has created. It should come as no surprise that so many big enterprises are showing interest. Not only do they get paid for the data they enter, but they also have access to the huge amounts of data collected by other major companies.
“Many users are ready to share their data in exchange for other data, or simply to deliver data to the system in return for money, and to update their data constantly. Customers, in turn, are ready to pay much more for leads if the high quality and relevance of the data are demonstrated,” Kratko added.
Snovio is not the fanciest crypto project out there, but that may actually be its greatest strength.
It solves a real-world commercial problem, and it does so in a market area that is comparatively uncrowded. The company has a large team which includes programmers, web developers, and digital marketers - a good mix for a project such as this.
Practical, solutions-based crypto projects are, in many ways, the future of blockchain applications because they are clear in what they set out to achieve. This makes their results easier to track and their value more accurately determined.
Currently SNOV is only trading on Kucoin, Tidex and EtherDelta, which means there is immense room for growth once other, more popular exchanges list it. Since SNOV is an ERC20 token, you can use your MEW wallet to store it.