SiBorg Ads
Tokenize advertising spaces associated with search keywords on the SiBorg podcast app, creating a new monetization model for media and an investment opportunity for sponsors.
Created on 19th June 2024
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SiBorg Ads
Tokenize advertising spaces associated with search keywords on the SiBorg podcast app, creating a new monetization model for media and an investment opportunity for sponsors.
The problem SiBorg Ads solves
SiBorg Ads addresses key challenges in the media and advertising industry by revolutionizing the monetization and sponsorship model for new media platforms. Traditional methods often leave new media, such as apps or websites, struggling to generate revenue due to a lack of established audience metrics and advertiser trust. SiBorg Ads solves this problem by tokenizing ad space associated with search terms on the SiBorg podcast app, with a potential base of 500 million annual listeners. This tokenization allows the platform to secure upfront funding, ensuring a stable revenue stream from the start and allowing the platform to focus on development without financial stress.
In addition, SiBorg Ads aligns the interests of media and sponsors by turning sponsors into investors. Since the value of the tokenized ad space is tied to the success of the platform, sponsors are motivated to support the long-term growth of the platform, which benefits both parties. SiBorg Ads also introduces a speculative investment opportunity by creating a market for buying and selling ad space based on supply and demand. This allows sponsors to buy ad space at a lower price and resell it later at a higher price as the platform grows, providing a potential return on investment.
To encourage viral growth and mainstream adoption, SiBorg Ads implements a “bid to earn” model that incentivizes users to actively participate, as well as a referral system that encourages users to invite others, thus expanding the reach of the platform.
Finally, the use of blockchain technology ensures transparent, secure, and direct transactions between media platforms and sponsors, reducing costs, eliminating intermediaries, and simplifying the process. In summary, SiBorg Ads facilitates media monetization, aligns with sponsor interests, engages audiences, and provides investment opportunities for sponsors. It serves as a fundamental building block for transforming the media sponsorship landscape.
Challenges we ran into
A major challenge we faced was the transition from the Next.js "Pages Router" to the "App Router". This paradigm shift proved to be particularly painful, and we ultimately had to abandon the effort. The transition required a complete overhaul of our routing logic. The new App Router introduced groundbreaking changes that affected how we handled dynamic routes and middleware. Despite our best efforts to adapt our code base, we encountered numerous compatibility issues and bugs that significantly slowed our development process. After evaluating the impact on our project schedule and resources, we decided it would be more efficient to revert to the Pages Router and focus on stabilizing our existing implementation.
Another major hurdle was making pivots in our choice of technologies for credit card payments. We first tried using Paper, but encountered significant difficulties, including the inability to successfully execute transactions on the testnet. As a result, we switched to Crossmint, which provided the functionality and support we needed. These decisions were made after extensive testing and troubleshooting to ensure that the chosen technologies would provide a seamless user experience while meeting our security and scalability requirements.
Next, Warpcast posed issues with dynamic updates of the initiation frame, which remains static after the first load. This is problematic for auctions where prices change. Proposed solution: a frame where users can check ticker availability and bid if available. This also questions frame integration for channels.
Finally, the implementation of gasless transactions has presented its own set of challenges. While we have successfully tested this feature on the backend (smart contracts, etc.), it has not yet been integrated into the frontend. We are working diligently to bridge this gap and plan to roll out gasless transactions in the near future, ensuring an even more seamless and direct experience for our users.
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