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The digital advertising industry is growing fast. The combined global market is expected to reach $232 billion by 2020, according to Statista. And with the rise of social media and digital content, advertising has shifted from traditional TV ads to online ads, such as those that appear on websites or in mobile apps. In the last two decades, digital advertising has grown rapidly. In 2018, advertisers spent a staggering $123 billion on online ads (excluding video ads). Moreover, the increasing popularity of social media platforms like Facebook and Instagram has led to an increase in influencer marketing and native advertising as well. However, at this point and time, there are many issues with current forms of advertisement, from trust and transparency concerns (with regards to users being tracked for targeted ads) to a general annoyance factor among consumers due to over-exposure. This is where Blockchain technology comes into play. With its ability to create trustless networks and tokenize almost anything
What’s wrong with the current state of advertising?
The biggest issue with the current state of advertising is that users are not given an option to opt in or out of receiving ads. In other words, if a user searches for a certain product online and clicks on an advertisement, he or she is being tracked and profiled for targeted ads. This means that users are then shown ads related to their interests and online behavior and are not compensated for this. This lack of transparency and user consent is what has led to a general user distrust of online ads. According to a study by the Pew Research Center, 51% of U.S. adults have “little to no trust” in the ads they see online. This distrust is due to the fact that most users are not aware of how their data is being collected, who is collecting it, and how it’s being used.
Consumer data is being collected without consent
Another major issue with the current state of advertising is the issue of user privacy and trust. There is a general misconception that data privacy is being protected when in reality, it’s not. While advertisers can track users’ online behavior, they cannot track the actual identity of the user. This means that advertisers have no idea who exactly is viewing their ads and are tracking the behavior of a “random” user who has no connection with them. This is not only an invasion of the user’s privacy and trust but also a waste of time and money for advertisers since they are paying to reach and engage with random users.
Excessive use of ad blockers and malware risk
Another major issue with the current state of advertising is the risk of malware and ad blockers. Advertisers are often accused of supporting malware because some advertisements (paid for by third parties) direct the user to malicious websites. This results in a general distrust of advertisements and the adoption of ad blockers by users. Advertisers have responded to the use of ad blockers by fighting back in court and starting to demand money from advertising networks that serve the content that ends up being blocked by the user.
Metaverse is an advertisment Disneyland
Metaverse is a virtual land to flourish advertisements. Many brands are preparing for the next digital trend, and NFTs are preparing for the crypto boom. You may not view advertisements in any content rather than shopping in Metaverse in the future. Any exclusive experience can be built in the Metaverse with a full advertisement that you can integrate and purchase through rather than only viewing that purposely inserted into the online content.
Conclusion
The current state of advertising is lacking on many fronts. From a lack of transparency and user privacy to excessive use of ad blockers and malware risk, it’s clear that it’s time for a change. This is where blockchain technology comes into play. With its ability to create trustless networks, as well as its potential to tokenize almost anything, blockchain technology can disrupt the current state of advertising and change it for the better. With blockchain technology, advertisers will be able to reach their targeted customers with ads that are actually relevant to their interests. At the same time, users will be able to track how and when they were targeted and even get paid for ads that are relevant to them. Overall, blockchain technology can change the current state of advertising for the better and make digital ads more beneficial for all parties involved.
Note: the post was shared on multiple platformsYou can refer my previous article lists
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2022 Prediction
2022 Prediction #1: L1 Scalability
2022 Prediction #2: L2 Bridges
2022 Prediction #3: Zero-Knowledge Proofs or ZKPs
2022 Prediction #4: Regulated Defi On-Chain KYC
2022 Prediction #5: Institutional Crypto Adoption
2022 Prediction #6: Defi Insurance
2022 Prediction #7: NFTs-Based Communities - DAO 1.5
2022 Prediction #8: Metaverse and NFTs
2022 Prediction #9: Web2 Companies’ FOMO
2022 Prediction #10: Time for DAO 2.0
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DAO The Way
DAO The Way Part 12
DAO The Way Part 13
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Learn How To Defi
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Crypto Comics
Crypto Comics - Who is Satoshi
Crypto Comics - What is Wallet
Crypto Comics - What is Coinbase
Crypto Comics - What is A Block
Crypto Comics - What is DeFi-2
Crypto Comics - What is Yearn Finance
Crypto Comics - What is Cold Wallet
Crypto Comics - What is Hot Wallet
Crypto Comics - What is Airdrop
Crypto Comics - What is Bagholder
Crypto Comics - What is Decentralization
Crypto Comics - What is Wallet Address
Crypto Comics - What is Plagiarism in Web3
Crypto Comics - What is Bart Pattern
Crypto Comics - What is Encryption
Crypto Comics - What is Consensus
Crypto Comics - What is Protocol
Crypto Comics - What is Stablecoin
Crypto Comics - What is ApeCoin
Crypto Comics - What is Tokenomics
Crypto Comics - What is APR
Crypto Comics - What is to The Moon
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Learn Web3 in 100 Days
Learn Web3 in 100 Days - #1 What is the Internet and How Relevant to Web3
Learn Web3 in 100 Days - Day 2: What are the Browsers and Servers
Learn Web3 in 100 Days - Day 3: What are HTTP Status Code
Learn Web3 in 100 Days - Day 4: HTML and CSS and JS
Learn Web3 in 100 Days - Day 5: What is programming
Learn Web3 in 100 Days - Day 6: Markup, Elements, Tags, and Hyperlinks
Learn Web3 in 100 Days - Day 7: Style Your Web
Learn Web3 in 100 Days - Day 8: JS
Learn Web3 in 100 Days - Day 9: SQL
Learn Web3 in 100 Days - Day 10: Front-End
Learn Web3 in 100 Days - Day 11: Front-End Framework
Learn Web3 in 100 Days - Day 12: More HTML
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Modern Economic Nonsense
Modern Economic Nonsense - Inflation and Incentives
Modern Economical Nonsense - The Astrologist's Way
Modern Economical Nonsense - The VUCA World
Modern Economical Nonsense - Zug Tax and How to Run your Own Monopoly
Modern Economical Nonsense - Participatory Economy
Modern Economical Nonsense - Economic Models
Modern Economical Nonsense - Tokenomic Models
Modern Economical Nonsense - Design A Reputation-Based System
Modern Economical Nonsense — The Money Problem
Modern Economical Nonsense — The Treasury Problem
Modern Economic Nonsense — Bitcoin vs. Real Estate
Modern Economic Nonsense — A very long term view
Modern Economic Nonsense — Banking Collapse
Modern Economic Nonsense — A Wall Street Legend
Modern Economic Nonsense — A Modern Alchemy
Modern Economic Nonsense — Founder goes ghosting
Modern Economic Nonsense — Anonymous cool or fool
Modern Economic Nonsense — The market volatility
Modern Economic Nonsense — The money shortage
Modern Economic Nonsense — The web3 scams or not
Modern Economic Nonsense — All about debts
Modern Economic Nonsense — Metaverse is still relevant or not
Modern Economic Nonsense — A Show of Recession
Modern Economic Nonsense — A Myth of Valuation
Modern Economic Nonsense — Inflation becomes irrelevant
Modern Economic Nonsense — A journey of money laundering
Modern Economic Nonsense — Consumer Sentiment Might Be Low
Modern Economic Nonsense — Is payment technology still relevant in high inflation environment
Modern Economic Nonsense — Recession is coming
Modern Economic Nonsense — We are at the bear market, now what
Modern Economic Nonsense — Invest like a cat
Modern Economic Nonsense — Bitcoin leads the market recovery
Modern Economic Nonsense — The dollar is dying slowly
Modern Economic Nonsense — The current stock market wants to go back to 2019 but ignore the technological solution of the future
Modern Economic Nonsense — Today's fear, tomorrow's cheer
Modern Economic Nonsense — An engineering recession
Modern Economic Nonsense — The market is broadening rug pull everyone
Modern Economic Nonsense — The self-fulfilling recession
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Yearn Finance Comic
Yearn Finance Comic - Part 1
Yearn Finance Comic - Part 2
Yearn Finance Comic - Part 3
Yearn Finance Comic - Part 4
Yearn Finance Comic — Part 5
Yearn Finance Comic - Part 6
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Curated Lists
Curated Lists - Web3 Culture
Curated Lists - Crypto-enabled Communities
Curated Lists - Crypto Philosophy
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Defi 101
Defi 101 - Part 1
Defi 101 — Part 2
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Thoughts
Thoughts about VC and PleasrDAO x BitDAO
The Crypto Market has Changed
The Myth of Inflation Hedge
The Myth of Stablecoin
The Myth of NFT
End of the Crypto Market?
The End of the Stablecoin?
Terra-UST Saga - How to repair the trust when there is no trust built on
How to deal with negative market sentiment
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Crypto VC Thoughts
Crypto VC Thoughts: Physical Assets vs Digital Assets
Crypto VC Thoughts: Digital Money Pushes Energy Companies to Innovate
Crypto VC Thoughts: GameFi Dilemma
Crypto VC Thoughts: Credit Oceans
Crypto VC Thoughts: The Death of Terra
Crypto VC Thoughts: Debunk Bitcoin Myths
Crypto VC Thoughts: Defense Crypto Investment Methods
Crypto VC Thoughts: New Type of Stablecoin
Crypto VC Thoughts: Crypto Business Cycle
Crypto VC Thoughts: Crypto Business Cycle 2
-------------------------------------------------------------------------------------Disclosure: The article was written by a delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters. You should not believe any words this author wrote or you may experience similar symptoms or even possibly become a nut job.
