Everyworld: Reinventing the $800 Billion Advertising Landscape with Blockchain
Everyworld: Reinventing the $800 Billion Advertising Landscape with Blockchain
Revolutionizing Engagement: Blockchain's Role in Fair and Transparent Advertising
TL;DR
Problems with the ad industry: The digital advertising industry is growing rapidly, but is dominated by a handful of large platforms. This has led to problems for consumers, content creators, and advertisers alike, including a lack of compensation and transparency.
The role of blockchain technology: Blockchain technology has the potential to reshape the advertising industry by providing a transparent marketplace through distributed ledgers and smart contracts, reducing the need for centralized platforms, and rewarding users directly.
Everyworld's approach: Everyworld is building a "rewarded advertising protocol" with a clear target audience: video game users.
1. Problems with the advertising industry
The digital advertising market is one of the fastest-growing industries, propelled by continuous advancements in internet and mobile devices. According to market research firm eMarketer, global digital ad spending is expected to reach $835.8 billion in 2026. Despite this sector's expansive growth trajectory, a critical challenge persists: much of this growth is dominated by a handful of large platforms like Google, Facebook, and Amazon. These platforms command an outsized influence over the advertising ecosystem, effectively dictating the terms of engagement for consumers, content creators, and advertisers.
Currently, consumers do not receive any form of direct compensation for their engagement with advertisements. Insights from market research highlight a growing sentiment of fatigue among consumers, who are increasingly weary of constant ad exposure and the pervasive use of their personal data. As a result, the majority of consumers have a negative perception of digital advertising, propelling a surge in the adoption of ad-blocking technologies.
While it's acknowledged that advertising models enable platforms to offer valuable services at no cost to consumers, the crux of the issue lies in the imbalanced 'value exchange.' Restrictive policies of major platforms prevent proper assessment of the value creation from consumer engagement, leading to the unfair leverage of their contributions.
While some digital platforms share ad revenue with content creators, the intricacies of revenue distribution remain opaque. Content creators may not know exactly how ad revenue is distributed on large platforms and may not be fully compensated within the complex algorithms designed by the platforms. A16z Partner Chris Dixon highlights that among the plethora of platforms, YouTube stands out as a rare example where the value shared with content creators is somewhat aligned with their contributions. In fact, according to a16z Partner Chris Dixon, the only platform that aligns value with content creators is Youtube.
From the perspective of advertisers, this opacity extends into a broader concern—diminishing trust within the digital advertising industry. Advertisers should be able to see clearly how their investment fuels their ad campaigns. However, the results can only be seen through dashboards provided by the platforms; many have to resort to third-party services to have the effectiveness of their campaigns properly analyzed and verified. In many cases, advertisers also struggle to optimize for the platform's ever-changing algorithms. Few would agree that the platforms currently providing advertising channels are optimized for advertisers.
In other words, the advertising industry to date faces chronic problems of 1) lack of reward for participants and 2) lack of transparency due to the dominance of a few platforms. An ecosystem with an unreasonable form of value exchange for participants is not sustainable in the long term. This dynamic underscores a critical need for reevaluating the mechanisms of value distribution within the digital ad space, ensuring a fairer and more transparent engagement model for consumers.
2. How is blockchain reinventing the advertising industry?
Blockchain technology is emerging as a representative technology to address the prevailing challenges within the advertising industry. Central to blockchain's appeal is its transparency, which catalyzes several pivotal shifts in the industry's landscape. Through blockchain technology, it is possible to 1) lay the groundwork for a transparent ecosystem for all participants, 2) create a foundation for fair market practices, and 3) restructure the industry through incentivizing voluntary user participation.
1) Increase trust through a transparent ecosystem
The distributed ledger, a cornerstone of blockchain technology, provides an immutable and transparent record of all transactions, encompassing details like ad placements, performance metrics, and more. This facilitates a better evaluation of advertisement effectiveness while also serving as a deterrent against fraudulent activities, including but not limited to deceptive advertisements and click fraud.
Moreover, the implementation of smart contracts introduces a layer of transparency and fairness previously unseen. These smart contracts encode the rules and agreements directly onto the blockchain, making them accessible and verifiable by all network participants without the need for centralized management. This paves the way for a more equitable digital advertising landscape.
2) Creating a fair market environment
Blockchain technology is setting the stage for a seismic shift in the advertising industry by reducing reliance on centralized platforms, thereby fostering the growth of a decentralized advertising network. This evolution facilitates direct interactions among three pivotal groups: advertisers, platforms, and users. It provides advertisers with the opportunity to run more efficient ad campaigns at lower costs, and publishers and content creators with the opportunity to earn more revenue directly.
3) Increase user engagement and rewards
Blockchain technology can revolutionize the advertising industry by introducing a "reward-based advertising" model, where users can receive direct rewards in the form of cryptocurrency or tokens for watching ads or interacting with specific ads. These reward systems also facilitate user conversion rates. Studies show 68% of users prefer rewarded ads over other ad formats, and they are six times more likely to complete a purchase. 79% of advertisers find this method successful, highlighting its effectiveness in boosting engagement and conversions.
Blockchain technology's reimagining of the advertising industry promises a more transparent, fair, and participatory ecosystem. Through its distributed ledger, smart contracts, and token economy, blockchain ensures fair compensation for all industry participants, enhancing value across the board.
3. Pioneers looking to redefine the advertising industry with blockchain technology: Everyworld
Blockchain technology has seen early applications in reshaping the advertising world, as illustrated by platforms like Steemit. This blockchain-based social media network introduced a model where user votes translate into rewards for content creators. Despite its innovative approach, Steemit faced challenges, notably in its limited sector appeal and a reward structure that struggled to retain users, highlighting the complexities of leveraging blockchain in advertising.
Recently, Everyworld has emerged as a formidable innovator within the advertising sector, attracting significant attention and investment from major Web3 investors like a16z, Coinbase Ventures, and Hashed.
Distinguishing itself from predecessors, Everyworld focuses on a rewarded advertising protocol with a niche – the video gaming community. This strategic focus on a specific target audience is crucial in the blockchain domain, where a broad approach often attracts profit-seekers rather than genuine participants. By zeroing in on gamers, a group well-understood by Everyworld's founders, the platform is well-positioned to tailor its offerings to user preferences and behaviors, promising a more engaging and effective ecosystem.
As a global platform with a global audience, Everyworld has a distinct advantage in marketing digital products, such as video games, which can be purchased and used across various locations by virtue of their digital format. This distinguishes video games from other consumer products that may be constrained by regional market specificities.
Everyworld has strategically launched the beta version of its product on Discord, a messaging platform at the heart of the gaming community. Leveraging a proprietary algorithm, Everyworld introduces users to short-form advertisements, rewarding them with points for engagement activities like watching and sharing. This system is designed for flexibility, operating not only within Everyworld's official server (and may also in the future occur in external third-party servers, including those of small friend groups.) This approach anticipates organic growth through user-driven expansion. Looking ahead, Everyworld aims to broaden its reach by integrating with other communication channels such as Telegram and its own proprietary mobile and desktop app, further amplifying the accessibility and impact of its rewarded advertising protocol.
Everyworld is not just innovating in the advertising sector; it's also deeply committed to environmental conservation, embedding this mission within its core operations. The company has pledged to allocate 40-45% of its tokens from its Drawing activities to environmental organizations. This commitment has already yielded tangible results from organizations that have contributed to biodiversity and environment conservation efforts such as the IUCN. This strategic focus on environmental protection resonates strongly with the values of a younger generation increasingly concerned with sustainable and socially responsible practices, positioning Everyworld as both a pioneer in advertising and a leader in corporate social responsibility.
Everyworld is pioneering a rewarded advertising ecosystem tailored specifically for video game enthusiasts, delivering short-form content directly within their preferred digital environments. This approach distinguishes Everyworld from earlier initiatives that, while innovative in leveraging blockchain technology, fell short in offering an experience that resonated with users.
By focusing on a well-defined audience and their interests, Everyworld is poised to develop a user-centric model that not only engages gamers but also establishes a new value chain benefiting both advertisers and consumers. This is anticipated to foster an organic flywheel effect, driving sustainable growth and engagement within the advertising landscape.
4. Conclusion
For blockchain technology to make a significant impact, it needs to address enduring challenges or revolutionize the frameworks of diverse sectors. Its potential to enhance trust via unparalleled transparency, streamline operations by removing intermediaries, and redistribute financial benefits for consumers and industry participants (as opposed to solely benefiting corporations) holds immense promise. Despite the high expectations, the number of blockchain projects that can be deemed truly successful remains relatively small, highlighting the nascent stage of this technology's application in real-world scenarios.
The emergence of Everyworld as a Tier 1 frontrunner in redefining the advertising industry through blockchain technology is particularly noteworthy within the broader context of blockchain's application. Unlike earlier initiatives that were heavily focused on the blockchain aspect itself, Everyworld adopts a more product-centric approach.
This strategy doesn't just apply blockchain for the sake of innovation within advertising; it extends the technology's impact by integrating corporate social responsibility into its core operations. By allocating a portion of its advertising revenue to environmental protection organizations, Everyworld aligns itself with the values of a generation deeply concerned about sustainability.
If Everyworld succeeds in firmly establishing its foothold, it will serve as a pivotal demonstration of blockchain technology's potential to revolutionize more industries beyond the advertising and crypto industry itself. Everyworld could spearhead underscores the broader community's eagerness to witness the tangible impacts of blockchain technology in redefining traditional industry paradigms.
Get 20% off your SEABW ticket today!
Join us at the biggest blockchain event of the year in Southeast Asia! This is your chance to connect with industry leaders, explore innovative blockchain solutions, and engage in valuable networking opportunities. The event runs from April 22nd to 28th in Bangkok.
Exclusive Offer for Our Readers: Use code TIGERR20 to receive 20% off your general admission tickets. Tickets are limited — secure yours now to ensure your spot at this event. (Discount automatically applied through the link below).
Disclaimer
This report was partially funded by Everyworld. It was independently produced by our researchers using credible sources. The findings, recommendations, and opinions are based on information available at publication time and may change without notice. We disclaim liability for any losses from using this report or its contents and do not warrant its accuracy or completeness. The information may differ from others' views. This report is for informational purposes only and is not legal, business, investment, or tax advice. References to securities or digital assets are for illustration only, not investment advice or offers. This material is not intended for investors.