Blockchain Technologies Set to Storm Marketing and Advertising Frontiers
The latest report from Never Stop Marketing indicates that the young crypto-enabled market for marketing technology is poised to move into a stellar-growth stage.
There is a bright future ahead for marketing solutions based on decentralized technologies, according to the latest Blockchain Marketing Technology Landscape report from Never Stop Marketing (NSM). This industry segment experienced head-spinning growth of almost 400% in the past six months, and all signs point to even more impressive results to come.
The speed of innovation in the marketing and advertising space will accelerate as marketers seek useful tools to make their life easier. The Blockchain Marketing Technology Landscape reveals the current situation and the scope of opportunities that blockchain technology can offer marketers and advertisers.
The research suggests many exciting implications for the general path of development and points to major empty niches.
- The digital marketing and advertising space fights inefficiencies. This area of the landscape is the most active.
“If you have a basic understanding of the potential of blockchain technology — that it will disintermediate third parties — and you have a basic understanding of the current value chain of digital advertising (there’s a huge amount of waste, with 44 percent of every $1 going to middlemen), then it’s fairly obvious that the industry most ripe for disruption is adtech,” Jeremy Epstein, CEO of NSM, told Venture Beat some months ago.
- The loyalty market is expanding rapidly, and many favor the idea of tokens or coins being used to represent loyalty points.
- Social advertising based on blockchain technologies has experienced 500% growth.
- The number of decentralized identity projects has nearly doubled.
Currently, there are a lot of gaps to be filled, but the industry is expected to experience a steady capital inflow, which will stimulate sustainable development and innovation.
Blockchain is much more than just cryptocurrencies. Regardless of what its critics think, it has extensive non-currency applications that can change the way we do business.
While the majority of the projects are likely to prove worthless, the few left standing will turn out to be winners with trillion-dollar protocols, NSM notes.
“We don’t need 10 different protocols for the adtech space, so people will have to assess if Papyrus, for example, is better than the others […]. We don’t need all of them,” Epstein explains.
It means there is much volatility in store for the market, but life will never be the same when the dust settles.