A startup called CryptoProject is allowing innovative ad space booking through digital currencies. It has a vast 1,000 by 1,000-pixel ad space that can be bought with cryptos and be used by advertisers to promote their business. Touted as the ‘billion-dollar picture’ this advertising space is open to anyone and everyone.
A billion dollars and more in ad revenue
The new CryptoPicture has a canvas size of 1,000 pixels by 1,000 pixels. The advertisers will be able to buy this space by the pixel. Space is available to businesses as well as individuals. Once purchased, space can be personalized with a logo, a message and even a link to the ad space owner. The company aims to build a massive patchwork of several innovative brands and individuals on the picture which will not only be an ad space, but also a work of art.
The startup claims that they will be providing ‘huge exposure’ to the advertisers on an international level. They intend to make the picture available to millions of users which will help in fulfilling their advertising goals.
Buying space is easy, for now
The presale of the picture is now complete, and a total of $3 million have been gathered during the event. The current owners of the space are BlockShow, Informer.com, HitBTC, and Freewallet. Now, the pixels are open for everyone. The startup is ready to welcome several different forms of advertising and isn’t shy to bring ICO ads on board. To avoid the use of harmful, violent or pornographic material on the space, voting rights will be provided to block owners. The more pixels a brand owns, the more power their vote will hold.
Interested advertisers can now start buying space on the CryptoPicture. They will have to do so by choosing an unoccupied pixel and paying for it in Ether. As the pixels start filling up, the price of the remaining pixels will rise. It means that early birds will be able to get pixels at a more reasonable price. However, when the picture gets filled up or when someone intends to buy an occupied space, he can do so easily without the previous owner’s consent.
To buy someone’s space, the user will have to pay thrice the value of the previous owner’s block. Of this, the company will keep only 5% as transaction fee while the remaining 95% will go to the previous owner. It will help in self-regulation of the space and always keep the CryptoPicture fresh.
The company believes that early adopters of their ad space will be in the cryptocurrency and blockchain space only. In fact, the initial audience for the network will be the crypto sector alone. As soon as consumer brands crop in the picture, it will be shown to a broader audience. However, this also means that over time, larger consumer corporations or Technology Company will be able to buy whatever they like at any time they prefer. It could be a disadvantage to smaller companies and startups. However, for now, the space is open to all and most pixels are available for sale.