The Interactive Video and Experience Protocol (IVEP) Association is looking to enter the online video ad industry using an innovative, blockchain based, technology to help make much needed improvements. While they are certainly not the first company to announce the use of blockchain for this type of thing, they seem to be the only one focused strictly on videos.
Their system will evaluate the effectiveness of ads and other videos not through just how much attention they are getting, but how much interaction. They believe they will be able to offer an exciting experience for viewers, which will help video producers and brands more easily accomplish their goals. In one system, viewers will be able to watch the videos, chat, shop, donate, search, and much more. IVEP also says that this system will be able to prevent ad fraud.
Frederik Donnie, the Founder and CEO of IVEP, said, “Ad fraud is an enormous problem within the online video streaming industry, costing advertisers billions per year. We’re excited to announce IVEP’s technology, which offers advertisers, content creators and publishers a new monetization model that leverages blockchain technology to combat bot traffic and ad fraud and ensure each advertisement is reaching its target audience. We envision a future where, through the IVEP in a single interactive frame, consumers will be able to enjoy digitally unique experiences, discover new products and services, shop with one tap, chat with a content creator or customer service, answer polls or donate without ever leaving the viewing experience.”
The system will be powered by a new token, which is being called ‘Dubtokens.’ They will go on sale later in February.