Crypto Stays outside the Advertisement IndustryEndy Callahan
Blockchain seems to be intensively expanding in many industries, advertising included. At the same time, experts cannot claim that the same trend is typical of crypto. Right now, crypto is likely to remain a no go – it has been left out of this area. What we may expect is blockchain to return and change the entire space thanks to its innovations.
Even though the crypto has been actively developing and growing, it still stays outside the advertisement space. It’s quite surprising for most crypto analysts since it has been topping search trends lately. More than that, the crypto participated in many projects helping to resolve issues related to the pandemic. Unfortunately, all these factors didn’t positively influence the crypto and it is left out of the ad industry.
Two years ago, Facebook decided to ban crypto ads. Google also banned them and didn’t allow crypto to advertise via binary options and ICOs. Twitter followed the mentioned two and crypto advertising was possible for several public firms only.
A few Chinese social networks applied the same measures and submitted to the restrictions set by the government. Analysts believe all these measures served as a way to prevent illegal fundraisers. They wanted to protect the market from scammers as well.
Users who agree to file a formal request with the brand can advertise on Facebook. In this instance, all scammers would need to refer to the company rather than avoid it. Many think that this is the right approach and it will make the acceptance of blockchain smoother. Also, this may significantly change the way in which nowadays issues are resolved.
Fighting back against Restrictions
The numerous limitations made the entire industry fight against these measures. As a result, companies in China and Russia filed a lawsuit against several social media corporations who imposed the bans. South Korean companies supported and joined them.
For a while, crypto advertisers were feeling much better, but there are still too many limitations. Luckily, experts see how much major things have changed. Publishers can place certain ads. All of this involves numerous procedures that advertisers are supposed to undergo. Yet, a certain degree of uncertainty remains – there is no guarantee media companies will approve the ads. Marketers need more freedom, otherwise, businesses won’t flourish.
The crypto industry is forced to adapt. People keep creating networks as well as PR and marketing agencies to help advertisers to enter the space and increase earnings – their mission is to make products more relevant and targeted. The crypto advertising sphere concentrates on strong relationships with fintech publishers. They are also developing more advanced tools they would use in the industry. This includes optimization. No doubt, agencies focus on RTB and programmatic advertising.
Specialists admit that the fight has been quite efficient and productive – now it’s easier for publishers to adjust. Nevertheless, the problems within the industry are still serious enough and step outside this zone. Centralization generated a lack of competition, hence many see no reason to continue to improve and innovate. Some projects related to blockchain have been making attempts to attract potential customers. What the industry offers can bring profits to publishers and advertisers. Thanks to the incentive, the market can expect visible changes in the future.
A huge number of third-party service providers and numerous middlemen might be considered a great issue in the network. At the moment, only thirty-five percent for every dollar finds its way to the publisher. This, in turn, leads to lower revenue and higher costs.
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