How Decentralized Advertising Will Work On The Steem Blockchain - A New Age For Advertising

markhalen (45)in #steem • 7 years ago

New Era For Advertising

With the creation of the Steem blockchain, companies do not need to negotiate with a central entity. Brands can advertise through the blockchain.

Brand Account

When organizations want to advertise through Steem, they will first create a Steem account in their name similar to Facebook pages, Twitter, etc.

Steem Power

Second, the brand will deposit funds into their Steem account, giving them Steem power (part ownership of Steem blockchain). Using their newly created brand account with Steem power, a brand can up-vote content they want to sponsor. To adjust the sponsored payout a company can alter their voting power (the % of one’s Steem power used for an up-vote).

Upvote To Sponsor

With a simple upvote companies can reward content creators who promote their products, brand, and values. The rewards are generated through the Steem Blockchain paying authors for up-votes with newly generated Steem (currency).

Delicious Beverage Example

If a newly launched fruit drink sees a Steemian promoting their product, they can reward them with an up-vote. Companies could sponsor creators with a few cents for an upvote to hundreds of dollars based on the brand’s Steem power and voting percent. I believe this adds a peer to peer relationships between brands and content creators that could not exist before.

Better World

In result, there are less middle-men, decreased marketing costs and higher payouts to creators. In the absence of smart contracts, this seems to be the best means of decentralized advertising.