by Guest Post
The online advertising industry has grown exponentially in recent years, to a global value of over $209 billion, accounting for over 40 percent of the global advertising market. In addition, the industry expected to grow to $300 billion in 2020 as businesses increasingly discover the impact of online advertising.
Struggles in Online Advertising Industry
However, through their experience in the advertising industry the team behind Bigbom Eco realized that although the industry size has increased tremendously, buyers and sellers are still having to deal with the same problems as in its infancy. There is a trust issue between buyers and sellers. Buyers often have little way of evaluating the effectiveness and quality of their ad before publishing it. At the same time, sellers have to deal with non-paying buyers. Additionally, setting up and monitoring ads on traditional platforms is time-consuming and not effective. As there are numerous uncertainties before placing an ad, users end up with a suboptimal return on investment.
Introducing Bigbom ECO
Through their experience running over a thousand online advertising campaigns, the team behind Bigbom Eco experienced these problems on a daily basis. To solve these issues, the team launches Bigbom Eco; a decentralized advertising ecosystem where all advertisers, agencies, ad platforms and ad channels are able to come together and conduct advertising transactions with one another.
It does so by providing a smart-contract solution for multi-advertising models. This smart-contract enables advertisers, publishers and ad platforms to perform their actions more efficiently and securely. As a result of Bigbom’s strategic partnership with Tomochain, Bigbom Eco will be integrated on both Tomochain and Ethereum. Both integrations will be tested in parallel, after which the best solution will be chosen to move forward with. In any case, Bigbom will feature a near-zero transaction fee, fast confirmation time and a much higher transaction capacity, compared to traditional advertising systems. The BBO token, an ERC-20 token, is the center of Bigbom Eco. This token is used to pay for digital advertising transactions between parties in the ecosystem.
In addition, the Bigbom Marketplace is another aspect of the Bigbom ecosystem. On the Marketplace, users can buy and sell ads. The Marketplace features several contracts, which further benefit users. An example is the payment contract, which is automatically and only executed if the KPIs which were agreed upon by the buyer and seller were met. Other examples include a secure rating system and an automated and reliable evaluation of ad performance.
An alpha version of Bigbom Eco is scheduled to launch before the ICO, with the Bigbom iAds platform scheduled for Q3 2018. Through the iAds platform, users will be able to directly connect with the API of Facebook and Google Ads, creating a frictionless experience.
Experienced Team and Advisors
Vung Nguyen, the CEO and founder of Bigbom, is no newcomer to the scene. Nguyen previously founded Adtop, an online advertising company which developed an advertising system serving over three billion impressions per month, working together with companies such as Lazada, Baskin Robbins and Jockey. The full team of Adtop has now moved forward to build Bigbom into an advertising system with global impact, assisted by multiple additional developers and marketers. Several experienced advisors, including Mr. Victor Tran (Co-Founder Kyber Network) and Mr. Minh Chu (Co-Founder TomoChain) have been appointed, and will share their expertise and network on a regular basis.
Successful Private Sale
Bigbom held a successful private sale at the beginning of 2018, where the project’s soft cap was reached. In the buildup for the ICO, Bigbom has garnered a lot of interest within the industry. The project has been covered by several media outlets including Forbes, and their two Telegram groups have amassed a following of nearly 30,000 members.
The Pre-ICO for Bigbom is set to be launched on March 28, where investors will be able to buy BBO tokens at a rate of 1 ETH = 20,000 BBO. The hard cap for the Pre-ICO is set at only 1,000 ETH.
More information about Bigbom can be found on their website: www.bigbom.com
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