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Two pioneering companies in the blockchain-based advertising landscape—VeraViews, under the Verasity ($VRA) umbrella, and Alkimi, a decentralized advertising exchange built on Ethereum – have announced their new joint venture today on August 22. The duo claims that their collaboration has the potential to redefine what's achievable in digital advertising, particularly in combating lack of transparency and inefficiency.
As Verasity has long argued, the advertising industry has grappled with challenges around transparency. Advertisers are often in the dark about where their ads appear, raising concerns over brand safety and ROI. The new partnership looks set to address these long-standing issues by integrating VeraViews' 'Proof of View' (PoV) technology into Alkimi Exchange's ad platform.
Within the collaboration, Alkimi's network of publishers can tap into VeraViews' ad stack, thus gaining access to a verified audience within VeraViews' network. Simultaneously, VeraViews will be able to scale up its monetization through Alkimi Exchange’s robust network of advertising partners.
“The decentralised 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,” says David Murray, Demand Director at VeraViews.
Ben Putley, the CEO & Co-Founder of Alkimi Exchange, adds, "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. "
Broader Impact on the Advertising and Blockchain Landscape
Verasity has already been a strong advocate for using tech-based solutions to battle chronic challenges that plague digital advertising for several years. Its technology is already integrated into several significant video hosting and publishing platforms, including its notable partnerships with Brightcove Marketplace and Hoopla Digital.
The integration between VeraViews and Alkimi Exchange could serve as a significant step in eradicating some of these pervasive issues – which according to British newspaper The Guardian affects a whopping 25 percent of all digital advertisements.
Should this alliance between VeraViews and Alkimi Exchange demonstrate success in mitigating fraud and increasing transparency, it may pave the way for broader adoption within the burgeoning blockchain sector – and in turn revolutionize an industry that is estimated to rise to more than a trillion US dollars annually in the coming years.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.