Little be-known to many is an ICO that is fast selling out only a few hours after it was launched earlier today.
They have set a target of 40 000 ETH for their ICO which at current standing is already at 36,500 ETH, just 3,500 ETH from reaching its target, which goes to show how much demand there is for this very interesting project.
The ICO is set to run for 30 days but at the current rate, I will be surprised if the offering is not sold out by the time the sun sets today.
The name of this Project is AdEx.
Adex is a Blockchain-based project that is essentially an ad exchange that seeks to replace the common centralized solutions out there currently that are prone to ad frauds and privacy violations, which are a big problem in the industry, and has been in development since its inception in early 2016.
The platform has been in the works for nearly two years and at its current state is at 60 percent completion of the Beta Platform, with the platform projected to be ready for real world use in early 2018.
The AdEx platform will be utilising the Ethereum platform in order to make use of Ethereum’s smart contracts in order to remove the middlemen, and instead will use the AdEx platform to tackle the noise of what these middlemen cause with all the complexities associated with selecting ads, tracking them, as well as bidding and payment, by simplifying the end-to end process which will cut costs for advertisers as well as make the entire process a lot more seamless than what it is with the tools available today.
Effectivey, AdEx is looking to completely disrupt the online digital advertising space by replacing the current archaic system with a solution that benefits all businesses that want to advertise online.
There is not much competition in the space currently, the only real competitor is the Basic Attention Token (BAT) which is a token issued for the Brave browser for the same space, advertising.
However, AdEx is a cross-platform solution which makes it easy for publishers (e.g. websites) to start using it without compromising their revenues (e.g. by only monetising brave browser users in the case with BAT).
Another benefit AdEx has is that is already has two very big named partners who are Stremio and Bitmain, which further validates the project as one that is serious and shows that they are aiming to be serious players in the space.
It’s worth mentioning that Stremio is a media center with 4 Million + downloads available so already AdEx is making very good strategic moves to put themselves in good stead in the advertising space, that is still untapped in the Blockchain space.
Ivo Georgiev, the CEO is very clear in the direction of what the project is trying to do. When I spoke to Ivo recently, he stated
‘Adex is built for adoption, as a first priority, our focus is only on digital advertising’.
So it is clear that the project and the team are solely focused on advertising, and nothing else.
What appeals to me in a project is a team that is working full-time on the project, AdEx is such a project. There are currently 7 team members working full time and a further 7 team members working part-time on the project.
The solution offered by AdEx seeks to benefit all parties involved in the online advertising ecosystem, which means end users as well as advertisers and publishers, while removing unnecessary and downright risky elements currently associated with centralized infrastructure,” Ivo Georgiev, Co-founder and CEO of AdEx stated.
In line with their mission of focusing solely on digital advertising, The adex team is currently working on several prototypes that have several off-chain solutions that lay on-top of the Ethereum Blockchain that will give advertisers and publishers the ability to easily interact with one another while being able to bypass current Ethereum Blockchain limitations, helping to increase the speed of any transactions.
Scalability, like any other project is a big concern and one that AdEx is already looking to address. To help address this, the AdEx Team plan to use IOTA to help improve and deal with the platform’s scalability.
As I mentioned before, AdEx appear to be taking things seriously, putting in place the infrastructure to enable wide scale adoption by making their services available through the use of mobile and desktop applications and embedded devices. Additionally, it can be integrated in websites via publisher-hosted endpoints.
The ICO is selling out fast so if you want to be a part of the project and participate in the project, just click on the link below;
You can also find out more about the project by visiting their Bitcointalk Thread and by joining their Telegram Channel;
Bitcointalk Thread: https://bitcointalk.org/index.php?topic=1965467.0
Telegram Link: https://t.me/AdexNetwork
