By
Temitope Olatunji
April 16th, 2024
AdEx – Snip collaboration is believed to enable the latter to serve high-quality ads at the early development stages, as well as to condition the healthier development of both projects.
AdEx network, an international decentralized advertising network, developing a blockchain-powered infrastructure for online ad market, announces plans to collaborate with the decentralized content platform Snip.
AdEx is a decentralized ad exchange built on Ethereum blockchain and smart contracts. The AdEx platform is designed to disrupt and replace the traditional digital advertising models by providing a transparent, focused solution for advertisers to collaborate with ad publishers and reach the best potential clients.
Led by co-founders Ivo Georgiev and Dimo Stoyanov, AdEx aims to transform existing advertising industry by solving its main issues such as privacy and the risk of advertising fraud. It will allow users to decide which ads to view by selecting their preferences without sacrificing their personal data and privacy.
Snip, a decentralized service delivering concise user-generated content on any topic created by Ran Reichman and Rani Horev, is an early-stage project that have already built the real product and acquired active readers and contributors.
More specifically, Snip, is a news site that provides readers with short, concise summaries of the day’s most important events. Using sophisticated machine learning algorithms, the website offers readers personalized news feeds focused on topics they care about.
On Snip, anyone can write a news story about any topic, and readers can find news that matters to them. Contributors are rewarded with tokens according to the popularity of their posts and comments. According to the project’s whitepaper, a community-based news site, also owned by the community covers any subject, from breaking news to entertainment.
The platform development is funded by native advertising (the so-called sponsored snips), as well as by subscription services — audio snips, ad-free feed and expert content.
Collaboration with AdEx is believed to enable the platform to serve high-quality ads at the early development stages. The teams are expecting to have a mutually beneficial partnership, able to condition the healthier development of both projects.
Ran Reichman, CEO of Snip, feels optimistic about the future of the announced partnership with such a rapidly developing ad-network:
We’re especially excited about using AdEx’s bidding and anti-fraud systems, which will allow us to present user with relevant ads and deliver maximum revenue to Snip writers.
Ivo Georgiev, CEO of AdEx, has also expressed an optimistic attitude regarding the future collaboration:
AdEx is pleased to announce partnership with Snip. We believe their technology and approach to content curation will fit quite well into our own philosophy.
AdEx showed tremendous progress by releasing their Core software (base smart contract that will power the advertising network), UI previews and announcing a partnership with NEO, which makes AdEx one of the first decentralized applications (DApps) to ever run on China’s first open source blockchain.
For the context, AdEx faced a 390% price gain of its native ADX token in a day after the partnership with NEO was announced.
Now Snip is to be the second project to become an AdEx publisher after AdEx, earlier this month, announced its partnership with Stremio, a video entertainment platform.