Atayen’s brainchild SaTT has finally reached the mark of its $US 3,360,000 softcap through its eagerly awaited ICO. This is days after the incredible news of the crypto-project surpassing the $1M mark barely after 48 hours. SaTT’s recent achievement is the first in this tumultuous year after a decline in ICO’s in the previous years. With this recent feat, there are rumors across the blockchain sphere that this remarkable achievement could signal another wave of ICOs as a primary mode for blockchain related projects funding. But it is too early to determine yet.
Initial Coin Offerings or ICOs have become a popular source of funding for crypto-related projects for the past five years. However a sharp decline in early 2019 meant that funding sourced from ICOs reduced by more than 95%. This has been attributed to several factors. One of them being the rise of ICOs that are not simply put legit. Yes, that’s right. According to this study, the number of ICOs that are legitimate are at a staggeringly low rate of less than 10% of the total, with about 80% of new ICOs branded as scams.
Achieving its targets
SaTT is on course to achieve its goals after hitting the $US 3,360,000 set softcap. The main goal of the project was to implement blockchain in advertising by offering advertisers a decentralized platform where they can engage with potential influencers and giving the users an opportunity to earn through its platform by sharing the advertisers content. And you know what? Their solution is already working and running!
The platform has already seduced several influencers and a community of followers, who are already promoting the different campaigns listed on the SaTT website.
So how exactly does SaTT work?
SaTT or in full, Smart Advertising Transaction Token is a crypto- related project by the parent company Atayen. Atayen is a well-known company in the tech sphere. With over 9 Facebook applications under its belt, the company has several “big” clients including Coca-Cola, Netflix and McDonald’s, among others.
In technical terms, SaTT provides a solution where companies can access and employ a decentralized protocol to create and modify their campaigns to maximize their project’s ambition. By utilizing this approach, the project owner won’t have to go through the tedious and costly process of employing third service parties such as agencies.
So basically in English, SaTT allows clients; for these cases companies who seek to advertise; unlimited access to a decentralized market powered by blockchain technology. This decentralized market then in turn allows the advertisers to interact and connect with the users who view their adverts. This was previously impossible as there were intermediaries or third parties who came in between the advertisers and the consumers or the target audience.
What does the future hold for SaTT?
There are a number of advantages that come with SaTT’s new solution. For starters, integrating blockchain technology will see a number of changes in any business or industry. Most of them are positive. Some of the advantages that will be associated with the solution include but are not limited to the following:
- There will be a limited reliance on third parties or intermediaries. A large portion of advertising revenue is usually spent on third party charges. As such, using blockchain will relieve advertisers of their reliance on advertising agencies.
- Another benefit is associated with the implementation of smart contracts which come with transparency and enhanced security features. This fuels the consumers’ trust in advertising. Reducing phenomena such as advert fraud while making the whole advertising industry accountable for their content.
- Thirdly, this solution gives the consumers power. The power to determine and choose the data or content they are exposed to, and share with others. This is particularly lacking in traditional advertising where the consumers are exposed to a wide barrage of unwanted or irrelevant adverts.
The advantages as seen above are not isolated to the advertisers only. Users are given the opportunity to earn while using the platform. Yes, that’s right! The users of SaTT’s platform will get rewards in SaTT’s platform by sharing the adverts, becoming influencers on their own.