Digital advertising is one of the most profitable industries in the world at the moment.
Since the creation of Ethereum, a number of projects have attempted to better connect customers to their products and to allow customers to own their data via the blockchain.
Blockchain projects such as Basic Attention Token, Bitclave, AdEx, and AdsDax are all looking to use the technology to dominate the digital advertising space.
Let’s take a look at what these projects are doing and how they’re using blockchain technology to revolutionise digital advertising.
Basic Attention Token (BAT)
Twitter tipping with BAT is here! @brave desktop browser users can enable Brave Rewards and click the “tip” button on each tweet to send @AttentionToken directly to the author of the tweet for an amount of their choosing. #TipWithBravehttps://t.co/rs0I4nSqyY
— Basic Attention Token (BAT) (@AttentionToken) August 1, 2019
Simply put, Basic Attention Token is looking to monetise people’s attention by paying users for watching ads.
BAT is a digital advertising token built on the Ethereum blockchain. The purpose of BAT is to create an ad exchange marketplace which will connect the advertisers, publishers, and users in a decentralised manner. In addition, BAT will monetise user attention and remove all the other needless expenditure related to ad networks.
The team behind Basic Attention Token also developed and released Brave, a completely decentralised web browser. Brave focuses on privacy and speed and blocks any unneeded ads and trackers by default. Unlike most adblockers, Brave blocks all ads without any bias.
The Brave browser constantly monitors your attention to see what kind of content you are spending most of your time looking at. Publishers are paid based on the amount of time users spend on each site. Since the browser uses the blockchain to keep track of all this data, it is impossible to tamper with the information collected.
Bitclave is another project developing a number of advertising products that aim to secure user identity using blockchain technology.
To date, Bitclave has developed four main products: Limitless Reward, Dsearch, MatchICO, and Vault. Each of these products targets a different problem within web advertising and navigation.
Limitless Reward offers rewards and cashback for online purchasing, Dsearch is a decentralised search engine, MatchICO is a platform used to find the best ICO investments for your profile, and Vault is a data management system.
In addition, Bitclave has developed the Bitclave Active Search Ecosystem (BASE), an open, decentralised ecosystem that allows users to own and selectively share their personal data.
The project uses the CAT token for internal user interactions and rewards.
AdEx – Ethereum-based advertising
We are launching an exciting new promotion for advertisers: between now and November, we will match your ad budget up to 1,000 DAI (~$1,000)!https://t.co/hqlWMZEPAe#advertising #bonus #promotion #DoubleAdBudget
— AdEx Network (@AdEx_Network) August 30, 2019
AdEx is a blockchain start-up that aims to revolutionise the global advertising arena. The idea behind AdEx is to connect advertisers, publishers, and daily web users with a view to creating a transparent, open-source, and tamper-proof display advertising ecosystem.
AdEx has created a decentralised advertising hub that is backed by the peer-to-peer benefits of blockchain technology. As the platform was built on top of the Ethereum protocol, every time a website impression is executed via AdEx, it subsequently creates a new transparent and auditable transaction.
AdEx plans to remove middlemen from the advertising workflow, meaning customers will always be the keepers of their financial data. Advertising companies and publishers can connect on a peer-to-peer basis, ensuring that both parties get a fair deal using the reliability and robustness of Ethereum.
Finally, the AdEx platform uses the DAI stable token (pegged to $1) for all transactions between publishers and advertisers, as well as its own native token, ADX, which is used for staking with the network’s validators.
The AdEx platform is already proving to be popular with users, racking up over 9 million impressions since inception.
The AdsDax project aims to build a unified platform and marketplace that facilitates all aspects of digital advertising.
The platform aims to cover the entire breadth of the advertising supply chain, not only including advert creation, campaign delivery, traffic and content verification, and yield optimisation,but also transparent reporting and costs.
To achieve these goals, AdsDax is leveraging blockchain technology to build a decentralised ecosystem for the advertising industry. It is developing a sort of open software development kit (SDK) called AdsDax Ads Development Kit (ADK), which is a single line of code that contains all of the logic, assets, and video players required to execute a wide range of stream video, display, and rich media advertising spots.
Hopefully, this platform will allow all participants to benefit from the money that is currently wasted through middlemen and instead reward consumers and incentivise participants to create more engaging and relevant ad experiences.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.