Papyrus is a blockchain ad tech startup currently undergoing its token sale. Papyrus mission is to create an advertising ecosystem which is beneficial to all of the people that are involved.
The current advertising system gives users little or no control over their private information and provides no compensation for viewing ads. As a consequence ad blocker rates have been skyrocketing.
The system is no better for advertisers. They have been hit by a double whammy of increasing ad blockage usage and billions of dollars lost to ad fraud. For publishers rates of return on content are declining due to the challenges of ad blocker.
Papyrus in a nutshell
Papyrus is a decentralised autonomous organisation that is owned by the token holders and developed through the Papyrus organisation. Papyrus is developing a new ecosystem where all of the participants are incentivised to play fairly and rewarded for doing so. Papyrus will introduce a sophisticated reputation management system that evaluate all of the participants involved in the advertising ecosystem.
Papyrus token sale overview
Token symbol: PRP
Exchange rate: 1 PRP = $1USD
End date for token sale = 2 Nov 2017
Blockchain = Ethereum
Hard cap = $5 million
Pros of Papyrus
Users are incentivised – One of the biggest problems with the existing advertising system is that users aren’t incentivised for viewing ads or sharing data. It is no wonder then that adblock usage is rising so fast. There is no reason for users not to employ ad blocker or to try to try protect which data they share with advertisers. Trying to incentivise users to watch ads would be very difficult outside of using blockchain technology which enables fast micropayments. This means that Papyrus will have a clear advantage over more centralised solutions for preventing adblock usage.
Advertisers receive improved returns – Advertisers currently lose 50% of their ad spend. This means that money is spent on advertising is completely wasted. Consequently they have a clear reason to try a platform which offers for lower rates of wasted ad spend.
Papyrus is flexible for publishers – Publishers may be reluctant to commit completely to a new advertising ecosystem like Papyrus. The Papyrus team appear to understand this and have developed a system which can work side by side with centralised advertising networks. This means that publishes can test Papyrus without having to forgo the revenue they are currently receiving from traditional advertising. If Papyrus does in fact lead to higher returns on the content in it would be natural for them to switch from Papyrus over traditional advertising networks.
Cons of Papyrus
Competition – There is no shortage of competition in the ad tech space. Papyrus is by no means the only company that is focused on the issue of ad blocking and ad fraud. If another company is able to present a more compelling solution to these problems then it could quickly capture market share from Papyrus.
Wariness over tokens – The participants in the advertising ecosystem may be weary of accepting payments and incentives through the Papyrus. The general public is not yet that well educated about the value of cryptocurrencies. In order for the system to function correctly users do need to have buy in to the Papyrus token.
While Papyrus may seems similar to other advertising products currently being developed on blockchain technology, Papyrus is actually quite unique. Papyrus is actually an open-source ecosystem that other projects can be integrated with. This means that in order for it to be successful it doesn’t meant that other blockchain ad tech companies need to fail. In fact Papyrus could easily grow alongside these other companies. This makes it one of them more compelling plays currently available in the blockchain Ad tech space.
Papyrus official website: https://papyrus.global/
Papyrus whitepaper: https://papyrus.global/media/files/whitepaper_en.pdf