What Are Bounty Programs?

What are Bounty Programs and What is Their Role in ICO Campaigns?

Nowadays, bounty programs for ICO launches have become an integral part of most campaigns, particularly in the cryptocurrency vertical. Using social media to spread awareness of a new product or service is becoming accepted as far more cost effective than more traditional forms of advertising.

Bounties are a reward mechanism for completing a specific task, usually from a company to an individual. In terms of a product launch, this means that compensation is offered for activities like sharing, mentions or retweets, to create buzz. Usually, the bounty payments are tokens, which represent value within the community, essentially it is a barter mechanism — for a bounty campaign to be effective, both parties must see value in the “token”.

The concept behind the project must be valuable.

Why do Bounty Programs work?

For the startup that wants to put funds into product development, traditional marketing costs can be difficult to justify. Display ads, press releases and other online (and offline) advertising campaigns, are expensive and need testing and fine tuning to get results. Bounty programs can save thousands of dollars and be far more effective.

They also help create a community that believes in the product or service. Startups can use bounties to engage with potential clients and brand ambassadors in a very interactive and fun way. For the bounty hunter, they can support a project they believe in and profit if it is successful. Everyone involved can work as a team to build a successful project with common goals.

EIP Bounty Campaign Phase One Launches

We are proud to announce the launch of the first phase EIP Bounty Campaign which will run until 30.06.18.

ICO Price: 0.1USD = 1 EMP

1% (up to $600,000) will be allocated to this bounty campaign

We will offer several tasks that will build a strong community around the concept of EIP — the Esports Interactive Platform — and spread the word about the project. We believe strongly in the potential of EIP and are sure you will be as excited as everyone else involved. Please check our link below to find out more.

Bounty Program: https://bitcointalk.org/index.php?topic=3315488.0