It’s become increasingly clear that cryptocurrency and blockchain technology will have a significant impact on many different industries. But what kind of impact will it have on advertising?
One upcoming project provides a glimpse into how digital advertising could evolve. Or, at least, how it could become more rewarding for consumers and publishers. The Brave Browser is an open-source Internet browser that blocks ads by default. Doesn’t sound so great for marketers, but that’s where the cryptoassets come in. The company that developed the Brave Browser also launched a token called BAT (Basic Attention Token) that functions seamlessly within the browser. Users can allow ads on the browser and receive BAT in exchange for giving their attention to the ads. This incentivized system helps eliminate spam and ensures users are actively watching and engaging with content.
A user can earn BAT by either creating and publishing useful content or engaging with the ads. They can also purchase the token directly with other popular cryptocurrencies like Bitcoin or Ethereum. They can then use the BAT to pay publishers and sites for access to their content. Where paywalls once discouraged people, there can now be a frictionless process to use a cryptocurrency or token that’s native to the platform. Much easier than getting out your credit card and sharing personal data with a website you may not fully trust.
Brave Browser’s current plan is to partner with publishers to develop custom content for users. In fact, the Dow Jones Media Group recently teamed up with Brave Browser to test out the advertising platform and its native currency across their brands, including Barron’s, the Wall Street Journal and MarketWatch. It’s certain they’re not the only company looking for ways to explore this emerging technology.
That’s just one example of how blockchain is already having an impact on the advertising industry. We look forward to tracking other innovations in the space as they develop and helping our clients identify new opportunities to create better customer experiences.