HOW PARAMI PROTOCOL IS USING AD 3.0 TO BUILD A TOKENIZED ADVERTISING ECONOMY

4 min readAug 24, 2021

The cryptocurrency ecosystem brings a whole new exciting and profitable look to every industry; financial, health, agriculture, etc. In this article, we will be concentrating on the benefits of cryptocurrency in the advertising sector.

Digital Advertising

Digital advertising can simply be defined as the process of distributing promotional information to people through various online and digital platforms. These messages are displayed to audiences through various media such as search engines, email, social media, mobile applications, websites, etc.

Non-digital advertising in the days of old followed a pattern that involved spread and hope. It reached out to a significant number of people, but the achievements were mostly unknown. Today, digital advertising is largely data-driven and can provide you with minute insights into your campaigns and results. It is a very essential tool for organizations because it helps them to easily interact with their audience due to the quick availability of user data.

In recent times, digital marketing has proven to be the cutting-edge of business. It can be a very lucrative way to earn money from anywhere you are, even from the comfort of your own bed, provided you have access to digital pieces of equipment. However, with heartbreaking rumors flying around of an impending global market crash, which is undoubtedly going to critically affect the global financial system and the fiat currency notably, cryptocurrency is assumed to be one of the systems (if not the only one) that will stand up and save the day, should the rumors come to reality.

Most financial sectors have all seen and felt the enormous potentials of cryptocurrency and blockchain technology, including the advertising sector. However, Parami Protocol is offering a different and impressive side of cryptocurrency to the advertising industry.

Parami Protocol

Parami Protocol is an advertising model that uses a cryptocurrency as a means that is built on the Substrate blockchain with the aim of taking the digital advertising ecosystem to the next level. Parami is being built on Polkadot because it is better in the place of Substrate. In other words, Parami is based on Substrate, Polkadot’s bridge, and IPFS distributed storage technology.

The Parami Protocol is offering an AD 3.0 paradigm for Web 3.0, as well as a protocol layout for creating a user-centric tokenized advertising market. AD 3.0 users are effectively rewarded for their attention and data, while their sovereign identity is safeguarded on a trust-free basis.

How it Works

The Parami protocol offers DID registration and maintenance services to main chain users, enabling them to create their own decentralized identity. Horizontally, using the blockchain-based reward systems, everyone can join a community of an influencer, and earn the growing value of that influencer, and get paid by the advertiser.

Vertically, the PCAP (Personal Crypto Advertising Preference) bound to Parami DID will be used as an aggregated advertising preference to consistently update users’ marketing preferences and to provide room for users to prove that they are the target user (with a high relevance match) by using zero-knowledge proof technology such as Bulletproof. Secondly, it will provide grounds for users to demonstrate that they are the target users (with high relevance and matching) and receive high rewards, establishing a true sense of autonomous control over user data and transaction realization.

It also offers DID for marketing businesses such that an advertiser can see the effect of his/her very campaign; meanwhile, the PCAP scores of users ensure his/her money is well spent, which not only ensures the legitimacy of the marketing process and fraud prevention but also allows companies to examine and track the entire marketing statement cycle.

Partners

Around April 2021, Parami Protocol announced that they have successfully completed a seed round fundraising. They were lucky to have gathered top firms as partners. These firms include CMS Holdings, NGC Ventures, GBV, Digital Finance Group, Genblock, Signum Capital, Axia8 Ventures, Spark Digital Capital, Digital Renaissance Foundation, AU21 Capital, GBIC, PNYX Ventures, Ruby Capital, Titans Ventures, Gate.io labs, Bella, Blockark, Weblock, and some core members of the Parity project.

Why Parami was Built on Substrate

The Parami Protocol was built on the Substrate platforms for two main reasons:

Firstly, Substrate has the great potential for cross-chain expansion;

Secondly, Substrate has the native toolkit for self-governing,

Parami Protocol is assured of how beneficial adoption of the Substrate network will be for their project and they are taking up the opportunity based on the actualized success of most other projects.

Parami’s Native Token ($AD3)

AD3 is the native token of Parami Protocol. It is a utility token that can be used in over six (6) different ways.

It can be used as an operation fee,
It can be used for staking and general governance of the Parami network,
It can be used to generate social NFT shard,
It can be used to bid for advertising slots,
It can be used to vote and update the network with a fork,
It can be used to settle for tokenized advertising campaigns.

It has a limited supply and the total supply of $AD3 is 100,000,000.

Conclusion

The Parami Protocol is a groundbreaking privacy-protecting, influence-monetizing, and attention-efficient advertising paradigm designed for the Web 3.0 era. The team behind the project is putting in hard work to see that digital advertising for the next generation is experienced in a better fashion.

Get to know more about the project:

Official Website: https://parami.io/

Twitter: https://twitter.com/ParamiProtocol

Discord Community: https://discord.gg/bxFuekgvYJ

Medium Blog: https://paramiprotocol.medium.com/

Telegram Community: https://t.me/ParamiProtocolEN