IVEP Association, in collaboration with mobile video creation platform dubdub, announced the initial coin offering (ICO), or Token Distribution Event, for dubtokens. This new multipurpose value and utility token is the central piece in a new blockchain-based and decentralized protocol that will transform the monetization of billions of hours of video content as well as elevate the streaming experience. The Interactive Video and Experience Protocol (IVEP) creates better engagement, counters invalid bot traffic and ad fraud in order to properly reward content creators and raise ROI for publishers.
"The advertising industry is currently plagued with problems that undermine the experience for creators, publishers, advertisers and users. The current ecosystem is making real and fake audiences increasingly hard to separate, devaluing attention-based metrics. Engagement is now the only KPI that matters as this is what drives outcomes," said Hillary Carter, director of faculty at the Blockchain Research Institute.
IVEP seeks to shift video content away from a deficient "attention" based model to a two-way real-time marketing model. It represents a more effective KPI for brands and online retailers, measuring real intent, engagement and lead conversion. This rebalances the online advertising model in favor of the user. It also empowers publishers to tell better and more captivating stories to their target customers with a vast catalogue of programmable smart objects and functions, available from a decentralized application store.
"The opportunity is two-fold. First, it introduces a new industry flow, leveraging blockchain technology to capture real human engagement metrics in an immutable and indisputable format for publishers and advertisers. Furthermore, it allows for the transformation of previously "static" video experiences into dynamic ones. Adding programmable and customizable digital interactive layers on top of any streamable content will significantly improve user experiences and audience retention," said Fred Dionne, Founder and CEO of IVEP.
The IVEP layer and the dubtoken economy will run on top of the distributed computing platform Ethereum.
The addition of smart objects and functions and the protocol's digital assets will be registered on-chain. IVEP will incentivize the creation of interactive features and services in a decentralized app (dApp) store to be used with the protocol.
Each registered IVEP participant will be assigned a unique trust score, alongside a Human Proof Score for the audience of any IVEP enabled content. These scores will be calculated based on engagement, behavioral and quality metrics, including the amount of value a participant brings to the protocol and its members.
"IVEP leverages the best Blockchain has to offer because it's built with all participants in mind, and brings value to all of them enabling new business models to emerge from the dubtoken economy," Manie Eagar, Chairman, Blockchain Association of Canada added.
The IVEP Association is a non-profit organization that promotes video and interactive experience technologies for the decentralized web through a fair, trustworthy and transparent copyright framework for content creators and distributors.