So, if you follow my blog, you know very well that I'm a big fan of blockchains and an avid believer that it will change the world. There is a race to find out in how many ways we can apply this new technology commercially. Today, I want to present you with more evidence to support my theory on blockchains.
Do you remember a time before the internet, in those days when if you posted a letter, it would take days to get to its destination. Then along came the internet and changed all that. Emails killed snail mail and gave rise to companies like Yahoo.
Later came YouTube. This phenomenon called YouTube went ahead and dealt a big blow to television broadcasting. It took broadcasting power away from the hands of the few that controlled what we watched and put that broadcasting power in everybody's hands. Because of services like YouTube, we no longer needed to experience news/entertainment from just two points of view e.g. either from FOX or NBC. YouTube increased our viewing options.
Then along came blockchains and made the service even better by offering products like Dtube that rewards you for posting and viewing video without setting high prerequisites.
In all this excitement surrounding this new technology, it is very easy to loose sight of how blockchains are changing the business environment especially in areas that's easy to over look.
One of such sectors being overrun by blockchains is the advertising industry.
With blockchains came tokens, these token allow developers to fund their projects through the public sale of tokens. After the resulting dapp or website is developed, it then needs to be promoted. The need for creating awareness for these projects gave birth to crypto bounties.
Airdrop campaigns. The idea behind these campaigns are quite simple. You sign up to the program, complete simple tasks and get rewarded. This simple concept has a strangle hold on what we assume to be the traditional ways of advertising. More and more companies outside the cryptoworld are adopting this new form of blockchains backed form of advertising.
Here's a case study, an advertising firm called Algebraix introduced a website in beta stage called watch.getalx.com. This is a blockchain project with a native token called ALX.
They allow companies to run airdrop campaigns on their platform and reward participants with ALX. To participate in the campaign, you have to sign up, watch TV commercials and movie trailers without skipping and get rewarded with ALX.
I appreciate this idea a lot because I love movies and I watch a lot of movie trailers on YouTube but I must confess that I always skip the in stream ads.
Now if I were an advertiser, why would I want to pay YouTube for in-stream ads that maybe skipped instead of creating an airdrop campaign on algebraix or bountyox.io giving everyone the opportunity to earn tokens as longs as they watch my commercials.
Blockchains is slowly and steadily decentralizing the advertising industry. It is taking away advertising dollar from the hands of a few companies and putting it in everybody's hands. That is the power of blockchains, its better and its here to stay.
