A new project funded by the company Atayen called SaTT for Smart Advertising Transaction Token has managed to hit its soft cap of $3,360,000 in less than a week, and this continues to increase day by day. This is shortly after the news of its recent ICO hit the waves and got all tongues in the crypto-sphere wagging. A public Initial Coin Offering was issued in 2018 and in less than 48 hours almost 2 years later, the project hit the $1 million mark in funds through the sale of its tokens. Making it the first project to reach those heights in this tumultuous year. Recently, Kucoin just announced the SaTT Listing on the 24th of September and the core SaTT team also announced several other exchanges including Uniswap.
Initial Coin Offerings are barely news in blockchain-related projects. In fact, less than five years ago this method of sourcing funds was very popular. The year 2016 and 2017 saw more than 2000 crypto-related projects getting their funding through ICOs, amounting to over $15 billion in funds through the sale of cryptocurrency or tokens. These numbers surpassed the traditional method (venture capital) of acquiring funding for projects.
What exactly is this project?
The project is the brainchild of the company Atayen. Don’t recognize it? Well, this company has been around for a while and is responsible for many SaaS projects. In short, this company provides Software as a Service (SaaS) to other companies. Atayen has worked with some of the biggest hitters in the industry such as Netflix and McDonalds. The company is also responsible for developing about 9 Facebook applications.
With its vast connections in the industry and the success of its ICO, there is no doubt that this project will be a success. The solution is already available on top social networks such as Instagram, Facebook, Twitter, and Youtube.
The project is yet to be listed and will be on the listing on the 24th of this month including major exchanges such as Kucoin.
What Does this New Innovation Offer?
Some of the major problems associated with traditional advertising and marketing, caused by the over-reliance of a centralized market will be eradicated. Such problems include; opacity and serious lack of user participation. But by using blockchain new startups are creating innovative solutions that will revolutionize the marketing industry.
This new innovation offers a revolutionary solution to marketing. By integrating blockchain technology, the project will provide a wide array of advantages to potential clients.
So does this work exactly? This new solution offers blockchain projects i.e. the advertisers, a decentralized platform where they can design their campaign i.e. adverts to fit their long term project goals.
No more middlemen. This new solution eliminates intermediaries and third-party elements that are often costly. This decentralized platform means that advertisers can set adverts and allow publishers i.e. the users to push the adverts across popular social networks such as Facebook and Twitter.
What does this mean to its clients?
The solution targets advertising companies as their primary clients. These will be able to leverage the numerous benefits associated with blockchains smart contracts that allow advertising projects to transact automatically quickly and securely.
These advantages include;
- A shift from centralized marketing platforms where advertisers are unable to interact with the end-users.
- Elimination of third parties who are often costly to the advertisers or the marketing companies. This also means that companies won’t have to deal with advertising agencies.
- Blockchain’s inherent transparency and enhanced security features such as smart contracts will improve the consumer’s trust in advertising whilst reducing incidents such as ad fraud.
- Consumers will also be protected from having their data shared or sold unwillingly and as such will have complete control of the data they share with advertisers.
How about the marketing audience?
Advertisers seem to reap a lot of rewards with revolutionary solutions, so what about the users of the platform? Users who will be using the platform can earn. Yes, that’s right. Users can earn in the form of the project’s tokens. So how can users leverage this and start earning? Unlike other traditional platforms where users can only earn based on the number of followers they have on other social media platforms; this novel solution allows every user to be a paid influencer.
Users who signed up on the platform can share the adverts on their social media and get rewarded proportionally to the engagement of their posts.
With this approach, any social media user with substantial media following can create and monetize advertising campaigns. This solution will see a paradigm shift in influencer marketing.
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