LUXEMBOURG, Dec. 10, 2018 (GLOBE NEWSWIRE) — Alternative Investment Fund (AIF) Manager Olymp Capital today announced that it has made its latest investment in Berlin-based Yeay GmbH, the first investment in a word-of-mouth marketing blockchain protocol. Olymp Capital will work with Yeay’s WOM Token Ltd., to deliver a monetization platform for word-of-mouth recommendations. The investment follows Olymp Capital’s investment in Nodle.io, the world’s largest crowdsourced Internet of Things (IoT) network.
WOM enables brands, content creators, publishers and social networks a revenue stream without any single central party exclusively profiting from the collective value created. WOM endeavors to convert honest product recommendations into a sustainable, scalable marketing strategy, enabling a new digital marketing model that is not reliant on ad-supported services. The WOM Token Private Sale is currently open and a Dutch Auction Token Generation Event (TGE) will be held in Q1 2019 to sell 350 million of the one billion total tokens.
Olymp Capital joins Advanced Blockchain AG and Nakamoto, as well as San Francisco-based VC firm, West in backing the project. Olymp Capital is the first European investment firm dedicated to the blockchain and crypto asset ecosystem. The firm manages the first European investment fund to include blockchain-related Private Equity and Initial Coin Offering/Security Token Offering (ICO/STO). The fund accepts investment both in fiat and crypto currencies.
“We see the promise of blockchain technology in digital marketing as a connective layer for content creators, influencers, and their audience of superfans. The WOM project is well-positioned to leverage the 237 billion dollar digital and mobile advertising market with a platform that is ahead of major social media networks in leveraging blockchain,” said Christophe de Courson, co-founder and CEO of Olymp Capital. “Our vision for Olymp Capital is to invest in the most innovative blockchain and crypto projects globally and, as with our initial investment in Nodle.io, we see WOM as another sign that blockchain can disrupt emerging, and developed, market segments.”
WOM is led by Melanie Mohr, who is also the founder and CEO of recommendations app, YEAY, which will be the initial partner platform to integrate the WOM Protocol immediately following the Dutch Auction.
“Olymp Capital are ahead of the curve in the crypto assets space and we at YEAY and WOM are proud to partner with a future-facing firm that shares our vision. They are the best of both worlds, combining extensive experience in traditional finance with a deep knowledge of blockchain ecosystems,” said Melanie Mohr, founder and CEO of WOM. “This relationship continues to strengthen our position as the leaders of a brand new way to tap into organic word-of-mouth marketing — while providing a more consumer-friendly alternative to the ads-for-free-services social media business model.”
The YEAY app has been live in-market since January, 2017 and has a global network of creative, active, and predominantly Generation Z and Millennial users.
Its community share honest recommendation videos with one another about lifestyle products, services and experiences that they love and get rewarded for their engagement. YEAY, to date, has received $7 million in seed funding from investors including the former COO of AirBnB, the former CEO of Deutsche Telekom, Grazia Equity, Mountain Partners, and others.
About Olymp Capital
Olymp Capital is the first asset management firm in Europe to cover all the blockchain and crypto asset classes ecosystem. The firm is headquartered in Luxembourg and is comprised of experts in traditional finance and the blockchain ecosystem. For more information, visit www.olymp.capital
WOM (word-of-mouth) is building a blockchain-based protocol that gives brands, content creators, publishers, and social networks a way to monetize word-of-mouth recommendations on any app or platform. The YEAY app will be the first platform to adopt the WOM Protocol. For more information visit womprotocol.io
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