By
Mayowa Adebajo
March 12th, 2024
Blockchain-based advertising tech firm AdHive is to improve the organic networks of social influencers by facilitating the creation and scaling of marketing strategies and enhancing monetization.
The advertising industry is a fast-evolving one, constantly keeping up with trends in human behaviour and technological innovation, merging both aspects towards the sole purpose of creating high-quality content geared to a specific audience to result in sales performance for goods and services. Yet, the most advanced innovations struggle to define what this target audience is, and this effort still remains the key to creating the perfect advertising solution.
Even with constant research and development into, the sphere of advertising technology (AdTech) inflicts heavy losses in terms of revenue and budget allocations. Tech solutions quickly become outdated and marketing specialists become mired in obsolete methodologies, resulting in stagnation of innovation and increasing difficulty to attempt creative new approaches.
Two years ago the situation seemed to have changed, as a generation of initial coin offering (ICO) projects built upon blockchain foundations took charge themselves creating an entirely new industry that continues to thrive today. As a disruptive innovation itself, blockchain tech has now turned its attentions to the marketing and AdTech industries, proposing solutions to improve their inefficiencies in the market.
The US remains the leader in terms of ICO origins, accounting for a fifth of all ICOs recorded by ICOWatchList. This is followed by the UK (11%) and Russia (10%). The lead is even more pronounced with ICOs targeting the AdTech market, with American-based ICOs forming 39% of the participants and Russia with 13% – while others trail at below 5%, pointing to the edge of AdTech projects developed in the US.
The growth of AdTech sector ICOs is relatively recent. The surge has happened only in late 2017, doubling its total number in January to September in the last three months. All these ICOs have also enjoyed success across the board.
This trend is widely expected to remain in 2018, with an increasing demand for blockchain-based products, especially in the AdTech sector. So far, 19 such projects have been announced in the first quarter of 2018, compared to 16 in the previous quarter.
The interest has not waned either – multiple parties have expressed prospective interest to fund new ideas in a field, where the average AdTech ICO has raised $15 million recording a median of $5.5 million. This are figures that outperform the average of all other ICOs in other sectors, further proof that AdTech is garnering the highest interest.
The bulk of popular AdTech startups are advertising marketplaces, but there are also those that offer trading options like an exchange would (AdEx, for example) still creating sales platforms with sponsored content. All advertising is being sold either through the use of banners and contracts or via bloggers.
Unique ideas include data-collecting browsers that consumers can interact with, virtual reality marketing and video advertising.
Blockchain-based advertising tech firm AdHive proposes to leverage the organic networks of so-called social influencers, an advertisement sector showing the fastest growth rates. Through the means of a native advertising platform, native advertising can be deployed automatically via mass placement and transactions realised through smart contracts on the Ethereum blockchain.
In a unique approach, Estonia-based AdHive will help enterprises to build and scale their influencer marketing strategies, using AI analytics and community engagement to widen the scope of their brands. At the same time, monetization will be enhanced through blogs aimed at creating more engaging content for users.
Its use of AI distinguishes AdHive from competitors, enabling the use of deep analyses of ad campaign metrics for better enhancement. This sophisticated multi-approach is designed to bring together brands and influencers, who are still traditionally seen as separate.
AdHive co-founder Dmitry Malyanov believes that the ICO industry depends on the competition between cryptocurrency profitability, while missing out on an important trend. Malyanov pointed out that AdTech’s average income had actually outperformed Bitcoin’s yield considerably in the past six months, largely owing to the success of projects like AdEx, Viuly and Snovio. And he has full confidence that this trend will only continue to grow, with AdTech projects likely to produce even greater profits.