In brief
- Decrypt announces the launch of its own token at EthCC in Paris.
- Decrypt's token is built upon Ost, a token infrastructure provider built on Ethereum.
- The token will be used as a way to monetise relationships with ad partners without compromising on the reading experience for the user.
Decrypt, the crypto publication you know and love, today announced the launch of its own crypto token at EthCC in Paris.
Built in partnership with Ost a token infrastructure provider built on Ethereum, the launch will allow its readers to earn tokens in return for reading and sharing articles, as well as other actions based around interacting with the company’s content.
As users accrue tokens, they can be exchanged for goods and services like Amazon or Airbnb vouchers via the Ost affiliate program.
“The advertising model is broken in media. Publishers have been forced to compete for a dwindling slice of advertising by chasing clicks and practices that can lead to compromises in editorial integrity. By partnering with Ost, we’ve been able to build out an innovative approach to sponsorship where users read the content they care about and advertisers don’t get in the way–they add real value” says Josh Quittner, editorial director and co-founder of Decrypt.
Decrypt tokens will be released in “seasons”, via the Decrypt app. Each season will be co-sponsored with an advertising partner and users will be able to collect tokens across seasons and store them in their in-app wallet.
“We designed Ost to help web platforms unlock revenue opportunities beyond the traditional advertising model, by making it easy to launch a token on the Ethereum blockchain. As one of the top publications covering the blockchain industry with a highly engaged community of readers, Decrypt is an ideal partner for this collaboration,” says Jason Goldberg, founder, and CEO of Ost.
The sponsorship model provides a unique opportunity for advertisers to align themselves with an audience that is notoriously wary of traditional advertising, while simultaneously putting themselves at the forefront of new technology.
Users will store tokens in their own secure digital wallet on their smartphone. The use of blockchain ensures the tokens are non-fungible, preventing users from making duplicates or artificially increasing the supply of tokens for each season.
The token is due to launch in Q2 of 2020 with an initial launch partner, to be confirmed.