Experiences from a Successful ICO: Part 1 — Bounty Campaigns

An Introduction to Bounty Campaigns

When it comes to ICOs, one term can be found in pretty much every instance; that is the Bounty Campaign. A Bounty Campaign is a method of marketing and PR that allows organisations to forego the traditional methods of utilising specialised teams to work on press tours, press releases, and viral marketing. Instead, it empowers the online community to take over this role and thus become the voice of the project.

How do Bounty Campaigns work?

Bounty Campaigns are very easy to understand; fans, followers, and members of the online community are incentivised to spread information about the project’s product or service (and ICO) directly to other people.

  • Social media awareness (following, liking, and sharing)
  • Forum awareness (have a project signature for specific forums)
  • Blog and online media awareness (writing articles and creating video content)
  • Translation tasks

An Example of a Twitter Bounty Campaign

Most bounty campaigns have certain terms and conditions that participants have to follow. As an example, we’ll show you the Hash Rush Bounty Campaign for Twitter.

  • To participate, you need to go through the form registration found here. (link to registration form).
  • Each participant in the Twitter Bounty Campaign needs to have a minimum of 300 followers.
  • If you use spam or ‘artificial’ likes, shares or followers you will be excluded from the campaign.
  • Each participant should follow the official Hash Rush Twitter account and retweet 3 of our Tweets at least once per week.

Issues with Bounty Campaigns

Bounty Campaigns and Social Media

Looking at the participants of various social media bounty campaigns (including ours), it quickly becomes clear that a large number of participants do not add value to the ICOs they are promoting. This comes from the bounty hunter side of the communities and the fact that the social media campaigns are the easiest to take advantage of.

  1. Newly created accounts that are filled with fake followers.
    This creates the illusion that shares by the account will be seen by many people. However, the majority of the followers will be bounty hunters, empty accounts, or accounts from people that only value the number of followers that they have.
  2. Accounts that are set up to automatically like and share content.
    This guarantees that your content will be liked and shared — however, it will be the same for every campaign that the owner has joined. This means that even if there are some real followers, they are more than likely to ignore the shares as it quickly becomes spam.
  3. Accounts that are stolen and/or purchased from real people.
    Spam and bot accounts are eventually banned by Twitter, and some campaign managers have become more cautious of accounts that were created recently and have thousands of followers. This has lead to a market (illegal by Twitter rules) for older accounts. Unfortunately, a lot of these accounts are stolen.

Leveraging Bounty Campaigns for a Successful ICO

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Hash Rush

Hash Rush

An online sci-fi/fantasy RTS set in the fictional Hermeian galaxy. https://www.hashrush.com