Typically a startup will decide between an initial public offering and an upcoming ICO. Tech startups are increasingly building on the blockchain and turning to ICOs as a means to raise funding. Publicly traded internet ad company Social Reality is disrupting this trend by taking to the blockchain and announcing an upcoming BIGtoken ICO.
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Social Reality trades on the Nasdaq under the ticker symbol SRAX. Now they’re planning to add a token to their list of tradeable securities (or utility token, that’s unclear at this point) with the BIGtoken ICO pre-sale and public sale scheduled for January 2018. BIGtoken is a blockchain-based technology targeting the advertising and marketing communities.
Equity investors cheered the decision, evidenced by a 71% jump in Social Reality’s stock price.
Advertisers doled out USD 130 billion in 2016 for consumer data in exchange for which consumers received nothing. BIGtoken wants to give consumers control of their personal data on the blockchain, allowing them to control which information is shared and to be rewarded with tokens in exchange for disclosing that valuable data.
Upcoming ICOs in the Ad Space
ICOs have been on fire in 2017, having surpassed the USD 3 trillion threshold and the year’s not done yet. Advertising startups have represented a small piece of the pie, having contributed USD 46 million to the tally. The largest of those ad deals was the Basic Attention Token (BAT) ICO, which attracted more than USD 30 million to its coffers.
BIGtoken says the ad industry is “under developed” and “ready for significantly more ICO activity.” According to BIGtoken’s marketing material, other ad industry ICOs, including Brave Browser, Wolk and Papyrus, fall short of addressing the industry’s challenges for one reason or another.
BAT, they say is limited to the browser, which shortchanges consumers. WOLK apparently skips consumers altogether and opts instead to work exclusively with publishers, which is the mentality BIGtoken says it’s trying to change. Papyrus, meanwhile, minimizes the consumer, as per BIGtoken’s ICO material.