Blockchain Marketing Startup Atlas Protocol Gets Million Dollar Funding From SoftBank
Atlas Protocol, a blockchain marketing startup founded by ex-Google employees has recently received a million-dollar funding in the latest seed round led by SoftBank. Other contributors of this investment round include Danhua Capital, Baidu Ventures, and Fenbushi Digital.
Using the blockchain technology, the startup aims to bring disruptive innovation in interactive advertising and marketing by challenging the existing giants like Google and Facebook in their own game. the two giants have been dominating the online advertising space with Google having the lion’s share.
Atlas Protocol (ATP) shows its prowess through the technical infrastructure the company has developed for interactive advertising. In the official press release, the startup claims that its blockchain-based model will set up a new precedence along interactive marketing standards among the publishers, advertisers, and users.
Atlas Protocol challenges the status quo of online marketing industry while giving users an absolute control over their collected data and information through blockchain-based solutions. Currently, a majority of the online marketing giants collect user data giving them little control over it. These companies then sell this data to online advertisers who study the user behavioral patterns and further sell their products and services.
To break from these barriers of data control, promises its users to opt-in with whom they want to share their collected data on the blockchain network. The startup aims to position itself ahead of the giants like Google by letting the online web users interact directly with their public blockchain platforms.
In a Medium post last month, the company also revealed how its blockchain marketing solutions comply with the Europe's new General Data Protection Regulation (GDPR) rules. The company notes: "Being implemented on the blockchain, Atlas Protocol will be fully transparent for users, in contrast to the 'data blackhole' setup that characterizes the current industry landscape dominated by digital giants.”
The operating model of Atlas Protocol involves use of tokens which can be exchanged on the blockchain network among the interconnected ecosystem of advertisers, publishers and users. Marketers can then pay users through these tokens for using their data upon consent, and also earn the tokens by selling it to advertisers.
This way, users will be given absolute autonomy and control over their data and information. Atlas Protocol is co-founded by two ex-Google employees namely Duran Liu and Cheng Li.
While commenting on receiving the latest funding, Duran said: "Blockchain is a value network, Nebulas Rank provides a way to measure the value of multidimensional data in the blockchain." He also added, "The core algorithm of Atlas Protocol is based on the expanded Nebulas Rank. It will create a trustworthy new marketing channel and define a new tokenized marketing frontier."