By
Temitope Olatunji
April 16th, 2024
AdEx – NEO partnership is expected to increase the efficiency of the advertising network and to push the development of Smart Economy further.
AdEx, an international decentralized advertising network, developing a blockchain-powered infrastructure for online ad market, has announced it has partnered with NEO, one of the leading China-based open source blockchain.
Initially, AdEx planned to use Ethereum blockchain, but then the team has explored the NEO smart contract system and has evaluated it as very well-designed and more beneficial for its operations, therefore it is committed to porting the AdEx Core, recently released the base smart contract that will power the advertising network, to NEO. In such a way, AdEx will be one of the first decentralized applications (DApps) to ever run on NEO.
“We are looking forward to AdEx moving its core to the NEO ecosystem. We are positive that DApps will help us push the Smart Economy further, and AdEx is an excellent trailblazer for this,” commented Tony Tao, Secretary-general of NEO Council.
“We see the huge potential of NEO and this is why we are aiming at becoming the first NEO-based DApp,” said Ivo Georgiev, CEO and founder of AdEx. “We are exciting about porting the AdEx core as we are convinced this will increase the efficiency of our advertising network,” Georgiev added.
Most likely, as a result of the announced partnership, the platform’s native token ADX, has peaked several times, and currently, according to the Coin Market Capitalization, has the price of $0.81, which is the coin’s all-time high, especially taking into consideration that a few days ago it was traded at around $0.35. Still it would be unfair to state that solely the partnership with NEO is the key to AdEx’s success, given that the latter managed to raise $10.000.000 in just 3 hours during the ICO, which ended up on July, 20.
AdEx is now engaged in developing a prototype of their service. Even though the project’s roadmap suggested that it would be released as early as next February, the team is optimistic that it will be available to the general public a few months prior to that, according to the company’s press-release. The project is developing at a fast pace, and the ADX token is gaining a momentum on the various exchanges where it is traded.
The NEO project, initially founded under the name Antshares in 2014, is evolving rapidly. Being rebranded, today it has grown to become China’s first and biggest blockchain infrastructure with the ambitious plan to dethrone Ethereum. The project claims that its main goal is to promote the emergence of what it calls ‘smart economy’, supporting digital identities, decentralized commerce and asset digitization. Following the rebranding, the NEO token price has exploded, serving as a testament to the project’s worth.
Meanwhile, it’s not the only promising partnership AdEx entered into: recently it teamed up with video entertainment platform Stremio, a semi-open source video entertainment platform designed to host and deliver different type of video content within the same application, to deploy its solutions in the platform’s application.