How many advertising firms in the cryptocurrency and blockchain space can you name? There’s Anonymous Ads, Coin Ad, and BitMedia. A handful of altcoin advertising networks like NxtAds have come and gone.
Many Bitcoin gambling establishments and faucets have their own affiliate programs and, oh yeah, some faucets and Bitcoin news outlets are willing to sell advertising space on their websites. So there’s definitely room for new advertising platforms around the cryptosphere.
Fortunately for the rest of us who might want to monetize our websites with cryptocurrencies or find affordable advertising outlets for our businesses in the cryptocurrency niche, three new startups in the crypto advertising niche are currently offering ICOs or plan to in the near future.
Reftoken: Trustless Affiliate Marketing
Affiliate marketing is one of the most common ways for cryptocurrency and blockchain businesses to advertise, so it’s something of a surprise that there isn’t already a popular affiliate marketing clearinghouse for this niche. Reftoken aims to fill that gap with a decentralized and trustless affiliate network.
This system will build on Ethereum’s smart contract capacity to eliminate the possibility of fraud and enable instant payments for conversions made through publishers’ affiliate links.
With the Reftoken system, publishers won’t have to wait weeks for payment or take the risk of an advertiser flaking on them. Advertisers can worry less about publishers using less-than-honest sales tactics because the Turing-complete system can monitor the publisher’s activities at it relates to the terms of the contract.
The contract will be regarded as valid for as long as the contract can detect that the advertiser keeps the escrow wallet adequately funded and the publisher stays honest.
You can still join the presale if you like and the ICO officially goes live on October 16th.
Papyrus: Decentralized Advertising Ecosystem
Papyrus features a decentralized real-time bidding protocol (dRTB) for ad buying and battles fraud using incentivized auditors and decentralized consensus on traffic quality, brand safety, and ad quality. It also includes mechanisms for dispute resolution and reputation management for users of its system.
Because Papyrus is decentralized and trustless, it would be nearly impossible to censor advertisers due to questionable content and publishers who may have had difficulties with Google Adsense due to controversial statements.
This may scare off some publishers who don’t want to promote shady or NSFW advertisers and cause some advertisers to wonder whether they might be supporting wingnuts with their advertising funds.
On the flip side, legit advertisers and publishers who have previously been frustrated by centralized services like Google finding excuses to suspend their accounts, yank their earnings, or ban their ads may enjoy using a system like this.
The important thing to remember with a system like Papyrus is that transparency and privacy shouldn’t be confused. Papyrus promises privacy, which means that it doesn’t sneakily place a small piece of code on your computer or mobile device to track your web browsing habits and use of apps that rely on an Internet connection to function.
Papyrus also promises transparency, which means that it’s easy to track down any transaction or contract that might be called into question and intermediaries can’t deliberately make things obtuse or inefficient to get more money out of the users. So don’t let overly centralized competitors blow smoke your way when you’re considering a decentralized service like Papyrus.
Lydian: Marketing Cloud for the Blockchain
How often have you been annoyed by advertising that isn’t relevant to you? You can be sure that advertisers are annoyed, too, because they’re wasting their marketing budgets by advertising to people who are never going to use their products. Luckily, I was able to warn Upwork that Youtube is wasting its money by showing me its video ads when I already use Upwork. However, many advertisers aren’t that lucky.
Lydian aims to solve that problem by applying artificial intelligence to enhance targeting methods for advertising and marketing efforts. If this and similar systems become adequately fine-tuned and see widespread use, then I wouldn’t have to put up with seeing advertisements for services I already use and products that I’m unlikely to ever use (sorry, Tresiba).
The Lydian teams claims that the AI systems known as MonaLisa, Mona Chain, and MonaBrowse will be able to increase the efficiency of every advertising dollar by eliminating fraud, improving the accuracy of ad performance reporting, replacing legacy systems, reducing annoyance to the audience, and eliminating the chronic malware problem that causes users to avoid clicking on an unfamiliar ad.
It aims to reduce the influence of the middleman to increase the efficiency of the money spent on marketing. Lydian token holders will get a surprise bonus in the form of an ad-free browsing experience through the Lydian system.
Can these three decentralized advertising systems turn the advertising world around by eliminating the middleman, reducing fraud and malware, increasing the efficiency of marketing efforts, and seizing opportunities in the advertising niche that haven’t been taken very seriously by cryptocurrency and blockchain insiders? They are about to issue their ICOs if they haven’t already, so they may be worth jumping on if investors are willing to take a chance on new, decentralized advertising networks.
Thanks for reading.
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