The global digital advertising spending worldwide is expected to grow to $389 billion in 2021. Unfortunately, online advertising and the target audience seem to be pulling in different directions. The reports suggest that while 46% of the online ads are poorly targeted, at least 50% of ad impressions go unseen. As a result, the exposure of the brands reduces, the online advertising cost increases, and the audiences become elusive.
Crowny promises to be a direct bridge between the brand and the consumers. It offers them new ways of engagement, rewards brand-loyal audiences, and increases the reach of brand advertising to the right audience. In addition to that, it prevents the data leakage issues of the online advertising industry as Crowny is built on the Solana blockchain. According to the whitepaper of the project, using Crowny, consumers get exposed to the relevant ads only. Furthermore, they will also earn Crowny tokens ($CRWNY) and brand loyalty points.
How does Crowny Platform function?
Crowny platform allows brands to create effective campaigns for the target audience. It enables this by creating the following flow:
- Crowny offers consumers a smartphone app. This app allows them to pick their areas of interest and follow their favorite brands. Effectively, this empowers them to have control over the kind of ads and deals they get exposed to. Interestingly, the users can also select the frequency of a particular type of ad content.
- This app includes a wallet for $CRWNY with fiat support.
- The app anonymizes the user data ensuring complete privacy.
- The consumers can be reached via push notifications, geofencing, and QR codes. To make it more interesting, the app also gamifies the experience.
- For the content consumed by the users, they will always receive rewards. They will be paid out using $CRWNY tokens and brand loyalty points. The app also provides a separate wallet for loyalty points.
- When a user receives a reward, the app also gives him a chance to win an NFT created by the brand.
- Brands need to create an account on the platform.
- Once the registration is complete, the brands can either start a loyalty program or start an advertising campaign. For every action, the brand needs to pay using $CRWNY.
- The brands can manage the loyalty program using the platform.
- Moreover, the brands can select gender, age range, and other parameters to target the audience.
- Along with that, they need to provide a campaign starting date and the amount of $CRWNY they want to distribute in this campaign.
- Once these parameters are established, the brands can engage the audience by generating triggers like notifications, GPS fences, and QR codes.
Multi-utility $CRWNY token
$CRWNY has been launched as an ERC20 token. will be first launched on the Ethereum chain in the ERC20 token form. However, to make reach the exact utility value of CRWNY, the team is working on building an Ethereum-to-Solana bridge.
It must be noted that the loyalty token will be different from the $CRWNY token. Following are the use cases of $CRWNY:
Crowny platform is designed in a way that its execution will demand high liquidity. That’s because the brands will buy $CRWNY using fiat and users will desire to sell their tokens for fiat. As a result, the platform gives the token holders an opportunity to provide liquidity using ETH and USDC pairs. In turn, the LP’s will receive LP tokens which can then be staked to receive more rewards. These rewards could be $CRWNY and an NFT.
$CRWNY staking will be made available through a mobile application. The stakers will earn the same rewards as the liquidity providers. However, these will be vested to prevent the platform against rug pulls.
NFTs (future plans)
According to the whitepaper, the platform plans to add brand NFTs. These will offer additional functionalities like access to partner products, increased yields, and collectibles
- App and portal launch
- Launch microtask feature
- Introduce NFTs
- Building a bridge from Ethereum to Solana.
- Multi-trigger campaign feature
- Development of AR layer
Where can you buy $CRWNY?
Currently, $CRWNY is tradeable on Uniswap and AscendEx. Its IDO was conducted on DAO Maker between April 14 – April 21. Since its IDO the token has exhibited an ROI of 2,789.5%. At the time of press, $CRWNY is trading a little over $0.16.
The post Crowny (CRWNY) Built on Solana Redefines Online Advertising appeared first on Altcoin Buzz.
3 total views