VeraViews and Alkimi Exchanges, two industry leaders in the blockchain-based advertising space, have announced a new collaborative effort. VeraViews is an open ledger platform that uses the patented “Proof of View” (PoV) fraud identification technology. Furthermore, it is an extension of the Verasity system. Alkimi Exchange, however, is a decentralized ad exchange marketplace. The two assert that their partnership has the power to reinvent what is possible in digital advertising, especially in the fight against inefficiencies and a lack of transparency in the supply chain network. The partnership will bring fresh audiences and publications to Alkimi Exchange marketers as well as improve the revenue potential for publishers on the VeraViews platform.
We are thrilled to announce our latest partnership with @verasitytech!
"Publishers using the VeraViews adstack can now access demand and monetise through Alkimi Exchange, and Alkimi Exchange’s advertising partners can access new publishers and audiences through VeraViews."… https://t.co/tMEe06oxDi
— Alkimi Exchange (@AlkimiExchange) August 22, 2023
Ad exchanges are computerized marketplaces where marketers may place real-time bids and buy publisher’s ad impressions, facilitating more effective and tailored digital advertising transactions. Ad exchanges make it possible for a vibrant and competitive market to buy and sell online advertising inventory, which is necessary for VeraViews’ publishing partners to successfully monetize their websites. For years, participants in the digital advertising industry have demanded more open procedures. Despite tracking capabilities and sophisticated ad networks, advertisers rarely know where their ads are placed. This raises questions about ROI and brand safety.
The collaboration between the two blockchain-based advertising giants plans to address these long-standing problems. It will be done through the integration of VeraView’s “Proof of View” (PoV) technology into Alkimi Exchange’s advertising platform. By utilizing VeraView’s ad stack, Alkimi publishers can reach new certified audiences across the VeraView network. Additionally, VeraViews has access to fresh demand monetization via the network of advertising partners of Alkimi Exchange. Alkimi Exchange will be able to learn where Proof of View is being used throughout its supply chain to block bots and illegitimate traffic.
Broader Impact on Blockchain-based Advertising
The agreement might represent a first step in clearing up some of the most vexing supply chain issues facing the advertising sector. In reality, a survey by the Guardian said that a projected 25 percent of all online ad views were generated by bots; however, other estimates put the overall proportion of fraudulent traffic significantly higher. VeraViews has long advocated for technological solutions that address fraudulent advertising and other concerns. Moreover, it has been a pioneer in using technology to combat enduring problems in digital advertising. The company’s software stack is already used by a number of significant view hosting and publishing platforms.
If the VeraViews and Alkimio Exchange incorporation succeeds in reducing fraud and increasing transparency, it may serve as a template for more widespread use in the booming blockchain industry. This might subsequently transform a sector of the economy that is anticipated to surpass $1 trillion annually in the near future.
Here’s what they said
Ben Putley, CEO & Co-Founder of Alkimi, stated:
We at Alkimi Exchange and VeraViews are excited to announce our partnership, bridging the gap between advertising technology and cryptocurrency. By uniting our strengths, we’re pioneering an innovative synergy that will offer unparalleled efficiency, transparency, and security in the ad tech industry. Our collaboration symbolises not just a mutual understanding of our industry’s future, but also a shared commitment to drive sustainable growth, forge new pathways, and redefine the boundaries of what’s possible. Together, we are charting a course towards a more integrated, responsive, and intelligent digital advertising landscape.
David Murray, Demand Director at VeraViews, said:
The decentralized advertising ecosystem is still nascent, and we’re delighted that VeraViews and Alkimi Exchange have found ways to leverage our innovative technology solutions in synergy, working together to achieve our common goal of bringing trust and transparency to the programmatic advertising supply chain.