A company that aims to change advertising through blockchain announced its decentralized application is now functional across several social networks, including Facebook, Instagram, Twitter and YouTube.
The Atayen-owned Smart Advertising Transaction Token, known as SaTT, claims it upgrades the advertising transaction process thanks to blockchain while removing the high costs associated with launching a campaign, reducing payment delays for publishers that rely on ad revenue, and injecting some much-needed transparency into the industry with performance-based payments. At the same time, this helps remove from the process third parties that inflate costs for everyone, achieves automation and allows brands to assess the performance of campaigns against customizable key performance indicators.
Atayen’s CEO, Gauthier Bros, noted that through SaTT’s decentralized application, costs are reduced for advertisers and payments are delivered to publishers instantly. “Currently it can take 30 to 90 days to get compensated through an affiliate or traditional campaign,” Bros emphasized. “It takes less than one minute with SaTT thanks to the Ethereum network and the revolution of smart contracts.”
Companies running campaigns receive up-to-date statistics on each post from their publishers and more generally on how their ads are performing, providing precious intelligence on what works and what doesn’t.
Wallet for everyone
In order to make the SaTT solution available to everyone, Atayen’s team says it has developed a wallet that is easy to use. It enables users to store Bitcoin (BTC), Ether (ETH), SaTT and other ERC-20 tokens and to pay or get paid as simply as sending an email. The interface, in the same way, allows users to interact with the DApp and smart contract with ease.
“It was a great challenge for the team to be able to offer such a tool usable by everyone, especially those with little or no knowledge of blockchain,” Bros adds.
Smart contracts are at the beating heart of SaTT, which operates on the Ethereum blockchain. Brands that want to promote their products and services can create an ad campaign that will offer SaTT rewards for community or influencer posts on social media. Once users have created a post related to the campaign on their Twitter, Facebook or Instagram accounts or a video on YouTube, they can publish the links to their posts on the ad campaign thanks to the SaTT interface. If the post follows the ad terms and is approved by the advertiser, the publisher will be able to trigger payments based on its network performance such as views, likes and shares, the team explains. As an example, 5,000 SaTT may be offered in exchange for 2,000 views.
The smart contract gets data from the third-party application programming interfaces of Facebook, Twitter, Instagram or YouTube, which are called oracles. Oracles will verify and certify the performance of these posts on the blockchain and automatically process the payment from the advertiser’s preloaded budget to the publisher’s wallet.
According to the company, this creates a win-win situation all around. Advertisers stand to gain an increase in their sales and reputation, publishers get the opportunity to earn much-deserved compensation for compelling content, and oracle developers receive a commission for ensuring that everything runs as it should.
Progress so far
Several milestones were already achieved in 2019. In the first quarter, oracle for YouTube was unveiled, along with a beta version of its smart contract. SaTT’s DApp went live in the second quarter of the year, and 10 YouTube ad campaigns have been successfully completed.
Speaking of the latest changes, well-known industry figure Richard Wang of the Draper Dragon Fund joined SaTT as an advisor.
In order to reach a wider adoption, the team has created and installed the PayBySaTT module on Facebook’s store application that allows brands to sell directly goods or services with SaTT on the network.
Now, Atayen is working to release an API that can allow third-party developers to build their own oracles on the likes of TikTok and LinkedIn, maximizing the adoption of the SaTT solution and spreading its tools throughout the advertising industry.
While expanding and developing its solutions, SaTT continues its funding goals and plans to be listed in major exchanges in the second quarter of 2020.
With the way that consumers access digital content continually changing, and content creators facing a constant battle to ensure they are fairly paid for their hard work, SaTT is hoping to shake up the industry for the better. Its stance is simple: digital advertising can be upgraded with blockchain.
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