The gospel of decentralization has finally reached the publishing and advertising industry via the launch of kind ads on the ethereum blockchain.
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This is the best of news for the primary player (the users, the publishers, the advertisers and the app partners) in the industry for they have been in the shackles of monopoly for a long time.
The revenue generated by the advertising industry in the year 2017 was about $90 million dollars with search advertising contributing 1/3 of the total US digital advertising revenue.
Advertisement in simple terms is a form of non-personal communication directed to the customers or targeted audience through various media in order to present and promote products, services, and ideas. It aims at information, education, and persuasion of the end users to adopt an advertise goods and services.
There are factors which may influence a potential consumer /user’ decision to adopt a particular brand of product being advertised.
- Packaging
- Performance of the product
- Channels of distribution
- Availability of goods and services
- Opinion of others
- Type of advert
- Branding
- Price to the ultimate buyer
These days on the internet, users get to see so many irrelevant pop up ads when they surf the web, a majority of these users would close these adverts and continue their task. One would not be surprised to see a spam email advert about a product with so much frequency.
Publishers find it difficult to make sales from their works due to an inadequate targeted audience to communicate their products to via the advertisers. This may be as a result of the advertisers being unable to distinguish the true quality of a product in order not to damage the reputation of the advertising firm.
This affects the marketplace of the app partners on the long run as they may not be able to make profits when considering the number of funds that would be a channel to scout for publishers, advertisers and end users.
King Ads saw all these loopholes and decided to bridge the gap between these set of individuals (end users, publishers, advertisers and app partners) on the blockchain by the launch of a decentralized push notification network for these individuals. King ads hope to provide a perfect marketplace. According to the white paper.
There would be a decentralized quality and reputation score for domain and publishers via an algorithm on the kind ads protocol. Advertisers can easily spot good publishers with a high reputation score to advertise these products without damaging the advertiser's own reputation.
There would also be a decentralized network for advertisers to transact with publishers to gain subscribers access. The unethical exchange of subscribers’ information in the monopolistic era would come to a halt; this would create room for advertisers to locate quality publishers with high subscribers.
There would be a token reward pool- the introduction of this would bring about an elasticity of demand which hopes to measure the responsiveness of end users to publishers. This hopes to create an incentive for the users allowing them to grant access to the publishers to share their data with third parties for a reward and in return make the user active when subscribed to any channel.
An option of opting out by dissatisfied users when they are not satisfied with the information provided by a publisher.
The decentralization of the publishing and advertising industry would.Create more job opportunities for baby publishers, advertisers and app partners.
Provide better information about a particular product by the publisher to the end user.
Increase profit margins to the publishers, advertisers and app partners
Put an end to false and misleading adverts
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The kind ad is co-founded by Saulo Medeiros who happens to be the co-founder of NPBR international LTDA, an agency that helps large corporation with their digital marketing needs. Other key team members are Rafael Mayrink (director of operations), James Sanchez (Blockchain developer), and Caio Beleza (digital marketing specialist).
You can watch my video to get the summary about KindAds
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