To address the concerns of current Affiliate Marketing Ecosystem, a group of Marketing enthusiasts joined hands with Blockchain experts to create a new optimized blockchain from scratch in Golang and this was the time in 2017 when ATTRACE was born in Netherlands. Coming out of Europe, it takes into account complete regulations surrounding European data privacy laws, and has the vision to revolutionize the way Affiliate Marketing works.
Affiliate Marketing is the “Pay for Performance” model of Digital Marketing as against the click based model used by traditional companies. Attrace wants to cut down the high fees paid by merchants on the one hand and ensure instant payment of fees earned on the other. It can truly be a game changer in this burgeoning $260 billion industry worldwide and can disrupt the global online advertising industry. Currently, the share of Affiliate Marketing is close to $13 billion, which is meagre 5%.
CURRENT MODEL OF AFFILIATE MARKETING
Image Source: Attrace Whitepaper
Current Affiliate Marketing Ecosystem is plagued with problems ranging from high network fees, tracking and attribution problems, under-reporting of sales leading to fraud, complicated payment mechanisms, absence of direct communication between publishers and merchants, barriers to entry for becoming a merchant etc.
ATTRACE REINVENTED MODEL OF AFFILIATE MARKETING
Image Source: Attrace Whitepaper
By adopting to this new disruptive marketing system, the fees gets reduced drastically, payments get simplified and are instant, the fraud problems are addressed due to transparency, Merchant onboarding becomes easier due to reputation system, and it also ensures direct communication between merchant and publisher leading to higher trust.
With advancements in technology, the affiliate marketing industry has grown multifold and has led to emergence of new players such as Affiliate Management Agencies, Super Affiliates, Specialized parties for focus on Mobile, Tablets and Apps. Attrace plans to track every single lead or click through smart contract, whether it concludes into sale or not. And this will all be based on state of the art custom high performance blockchain designed to handle load of 500-2000 transactions per second. Attrace has an competitive edge from other existing players in this space, which is shown in the infographic table below:
Image Source: Attrace Whitepaper
The target market include price comparison websites, coupon and rebate websites, weblogs and website syndication feeds, cause related marketing websites etc. The team is also confident on contributing a Dutch Affiliate Network White label company as a part of their Go-to-Market Strategy plan to trigger organic growth in Netherlands and some parts of Germany. Attrace ecosystem will be governed primarily by the ATTR token holders. Network parameters will be decided through voting by the token holders. There will be open API available for merchants and publishers across various platforms and devices. Sharding is not required initially but if required at later stages, will happen at the lowest level, where the lead click and contract will go on the same shard. The testnet is planned for launch in first week of Oct-2018 and full Mainnet launch by 01-Dec-2018.
To build confidence in the investors, Attrace team’s tokens are locked for up to 2 years with four 6-month vesting periods. The adviser and early supporters’ tokens will also stand locked for 6 months post ICO sale completion. The company has also announced that it will not conduct airdrops as they have proved to destroy value for investors in initial phase of the project. On the whole, the project looks promising and holds strong potential for making its space in this competitive market and good return for its early supporters/investors.
Further details on this Project can be checked at the website link https://attrace.com/
Whitepaper can be downloaded from https://attrace.com/pdf/attrace_whitepaper.pdf
Follow me on twitter https://twitter.com/mittal2a
Follow me on my LinkedIn Profile https://linkedin.com/in/abishekmittal
This article has been written with a potential reward from bounty in the form of tokens, which may be granted on acceptance of this article.
** This should not be treated as explicit financial, trading or otherwise investment advice. This is not an advice to buy these cryptos, do you own detailed research before investing.**