The CryptoPicture project, a tokenized advertising investment platform that had been announced at the end of March, will be relaunched soon with a pivotal approach.
Initially, investors could purchase “block space” on CryptoPicture’s advertising “canvass.” Each block was a digital asset, which were regulated by smart contracts on the Ethereum (ETH) blockchain. Investors could buy blocks, which advertisers would use to promote their product or service. Block prices were to rise incrementally as more advertisers bought space on the “canvas.”
Due to some miscommunication at the start, the planned partnership between CryptoPicture and Cointelegraph Network (the anchor investor that attracted about half of the pre-sale purchasers) has not launched as planned, and the project has effectively been frozen: since the beginning of April, no new blocks have been offered for sale in order to insure ownership of the project by pre-sale purchasers. Over the summer, CryptoPicture and Cointelegraph Network decided to part ways and, as the initial buyers who participated in the pre-sale relied on this partnership, we agreed to dissolve the initial CryptoPicture smart contract and return all the money gathered to initial buyers. CryptoPicture team agreed to cover all of the expenses associated with the project so far, so each buyer receives all the money initially invested.
While the project didn’t take off as initially expected, it proved to be an amazing concept with more than one million users branding their photos with CryptoPicture and all the participating brands and more than 20 million interacting with it during the testing period. On the other hand, the test revealed several flaws in the initial model. Thus, CryptoPicture will soon be relaunched with a new remastered smart contract and concept, learning from the MVP mistakes.
The Cointelegraph Network team wishes CryptoPicture good luck! Stay tuned for updates!
CryptoPicture is the world’s first decentralized advertising space regulated by Ethereum smart contract. Each lot works as a safe digital asset based on the blockchain principles, such as anonymity, hacker-proof safety, collective censorship, etc. Every separate deal as well as the whole ad space is regulated via a transparent self-executing smart contract protected by the Ethereum blockchain.
Company website: cryptopicture.com
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