Welcome to GrowthMate and our first Blog
The Case for Web3 On-Chain Advertising and how we decided to build it
With the rise of Web3, we realized a unique opportunity to rethink how advertisements are targeted and delivered. Traditional advertising methods typically involve invasive data collection that tracks users’ web activity, compromising their privacy. This approach can lead to irrelevant ads, resulting in ineffective ad spend and wasted expenditure for advertisers, as their budgets are spent on ads that do not effectively reach their intended audience.
From Idea to Reality
We knew that Web3 is different, so there was a need for change and innovation in the sector.
Web3 on-chain advertising utilizes the data available from users' blockchain transactions and wallet balances to tailor advertisements more precisely than ever before. By analyzing transaction histories, token holdings, and interactions with decentralized applications (DApps), advertisers can gain deep insights into users' preferences and investment behaviors. This data-driven approach enables the delivery of advertisements that are not only relevant but also timely, matching the current interests of the wallet owner.
Why Web3 On-Chain Advertising Is Relevant
- Increased Ad Relevance: By tapping into the rich data source of blockchain activities, advertisers can identify what users are genuinely interested in. For instance, a user frequently trading gaming tokens might be more interested in advertisements for new blockchain games or gaming collectibles. This relevance not only improves user experience but also increases the likelihood of ad engagement.
- Better ROI for Advertisers: The precision of on-chain advertising means that advertisers can reduce wastage on poorly targeted ads. By ensuring that ads are only shown to potentially interested parties, the efficiency of ad spend improves dramatically, leading to a better return on investment.
- Empowering Publishers: For platforms hosting these ads, implementing Web3 on-chain advertising can enhance the attractiveness of their space. Publishers can offer ad spaces that are more likely to engage visitors, thereby commanding higher premiums from advertisers.
- Innovative Use of Technology: Leveraging blockchain technology for advertising puts companies at the forefront of innovation. It shows a commitment to using cutting-edge technology to solve traditional problems in advertising, such as misalignment between ad content and user interest.
The Future of Advertising in Web3
Web3 on-chain advertising marks a major advancement in making digital ads more relevant and privacy-friendly. By focusing on ads that align with users' interests and are based on verifiable data, we improve the digital landscape for everyone involved—users, advertisers, and publishers.