Varanida, a digital advertising startup with an intention of “building a better internet” for publishers, advertisers and web users is entering its second round of token offering, with a little twist in the tale.
According to the Varanida, its blockchain has three major goals, to improve – transparency for brands, increase revenue for publishers and providing them with a quality experience while browsing.
They are aiming to achieve this by “improving the online digital content and creating incentives for less intrusive ads that people actually want to see.” Varanida was founded four years ago in Lyon, France. It claims to have a user base of 135,000, and they are demonstrating the demand for these changes.
In the second round of its token offering, the startup is using a new hybrid model which blends with the traditional initial coin offerings (ICOs) with DAICOs, a new concept innovated by Ethereum founder Vitalik Buterin.
DAICOs aims to strengthen the security of ICOs by including the investors in the initial stage of the development of the project, including the power to vote for the funds they contribute to be refunded if the investor feels it is an inadequate progression of the project. In a nod to DAOs, trust is not in accumulated in hands of a team, which means the division of funds is decided by voting.
Speaking to the crypto news site, Cointelegraph, Anji Ismail said, “Our goal has always been to improve the way the digital market provides services and content while treating privacy, data ownership, and online users’ experiences with the greatest respect. This round of our ICO will get our team and contributors one step closer to fulfilling that vision while making Varanida part of the evolution of ICOs.”
Varanida says it wants to give control of the online experience to the users, allowing them to decide when they want to receive ads, and who has the access to their data. Users will get rewards in the form of VAD tokens, if they do that, which will take them a step closer to unlocking the premium content from their desired publishers.
It might seem like a practice to hurting the publishers but Varanida argues the opposite to be true. As per Varanida, a website using the blockchain technology have a greater amount of revenue and this fact can be reinvested back into supporting “quality and engaging content.” It will not only give the readers’ a better experience but will also provide them with accurate, verified and transparent statistics enabling them to make quality decisions in their business strategies.
The round two of the token offering by Varanida ends on October 5. They are planning to split the third round into three rounds, with dates subject to community voting. Contributors from each of this stage will be refunded if pre-agreed milestones are not achieved by the startup.