An ad campaign platform takes a new innovative approach to advertising on the Bitcoin Cash (BCH) network through their pay-for-attention model.
The platform, called Memopay, harnesses the power of blockchain technology in an attempt to transform the advertising business. Through the use of on-chain messages, the company explains, advertisers can introduce their products and services directly to thousands of active Bitcoin Cash users.
Making use of OP_RETURN transactions, which lets you attach a message to a transaction, the platform sends small amounts of BCH dust to an active address, with a message tied to the funds. So far the company has run six ad campaigns, amounting to 101,236 ad messages delivered, and 110,259,079 satoshis distributed through their pay-for-attention model.
One of the companies that ran a campaign delivered 10,000 ad messages through the platform, and saw an increase of 110% in organic traffic to their website, Memopay claims. In another instance, a message with a link to an article sent to 1,000 Bitcoin Cash users, which achieved a 2,5% click-through-rate after only 24 hours.
The platform offers 2 different ad campaigns – a cost-per-send, which uses OP_RETURN transactions to send a message and a small amount of Bitcoin Cash, and a cost-per-click with which users receive BCH only after clicking on the attached link.
To run a campaign, a user needs to select one of the two ad models, fill out a request form and create a custom advertising message. After this simply fund the provided address with BCH to start the ad campaign.
In addition, Memopay is keyword agnostic, which means you pay the same no matter which keyword is used, with an average price of 1111 satoshis per message. This is not the first time OP_RETURN transactions have been used for advertising. Back in April 2018, TD Ameritrade etched their logo into the BTC chain using 68 transactions.