The recent achievement of SaTT’s initial coin offering (ICO) is the talk of the town after the company broke the bank by collecting about $1 Million in less than 48 hrs. The company has managed to hit the minimum amount set (US $3,360,000) for the project to be successful and is now setting its sight to reach the Hardcap.
According to its website, The SaTT is a utility token based on blockchain technology that allows the exchange of advertising and audience payment. SaTT which stands for Smart Advertising Transaction Token is now shooting for the stars after its new achievement.
The project offers an innovative and new way of advertising based on blockchain, whereby advertisers and users can monetize their social media accounts via cryptocurrency. The company has already delivered their solutions on big hitters such as Twitter, Facebook, Instagram and Youtube.
This feat comes after a prolonged bear run in the crypto market signaling a potential return to a bull market.
Is this a comeback of ICOs in tech industries?
ICO were really popular in crypto related industries back in 2016. The year saw several tech-related companies choose ICO’s as their primary method of collecting funds. This was more pronounced in companies that relied on blockchain and heavily disrupted venture capitalism. 2018 saw a peak in investment coming from ICO’s with over $6 billion coming from ICO’s alone, supporting over 1000 projects. This trend, however, went into steady decline in 2019. But this year’s SaTT’s achievement with its SaTT’s tokens may signal another turn for the blockchain related markets.
Can this achievement signal a comeback of the trend of using ICO’s to collect funds? Well, that is a long shot. The glorious achievement of SaTT’s tokens won’t save ICO’s. This can be attributed to several factors. Perhaps one of the main factors is well highlighted in Bloomberg study, which shows that over 80% percent of ICO’s are a scam.
What is SaTT in the first place?
The company, Atayen is behind the SaTT project, offers SaaS with some of the biggest clients such as Coca-Cola, McDonald’s, Netflix and has even made several Facebook applications.
By around June of this year, SaTT had already launched it’s publishers’ monetization page. The goal of this page was centralized on allowing blockchain related projects and companies to get on the front page of the internet to communicate to potential clients.
The solution offers blockchain projects an opportunity to easily access a decentralized procedure to plan numerous propositions that best suit their project’s long term goals and mission. In this method, the users won’t have to use the services of third parties such as bounty managers well known in the crypto industry, or simply agencies.
By using Blockchain’s smart contract procedure. SaTT completely revolutionizes the need to have these third-party agencies who have to audit the reward system. This decentralized form of advertising is bound to have an impact on the advertising industry as a whole. So the question lies on the future of SaTT after just hitting it’s softcap and possibly realizing its goals.
What’s next for SaTT?
After managing to hit its softcap, the next automatic move would be actualizing the project, which has now been made easier. The main goal of the project is to ensure a decentralized platform of advertising where transactions are instant, automated and safe.
The completion of the project would mean that advertisers would be able to launch adverts in which other users can engage with by sharing the related content on their social networks. This would mean a shift in the advertising industry.
SaTT would revolutionize the advertising industry in several ways and this is how. You see, traditional advertising is heavily reliant on centralization where companies have to deal with intermediaries in the form of advertising agencies or influencers, which is costly to advertisers. SaTT also leverages several advantages that come with the implementation of blockchain technology such as smart contracts. Smart contracts enhance transparency and security in transactions.
The solution has numerous advantages not only to the advertiser but to the users as well. SaTT allows users to engage with the content and by doing so they earn in the form of SaTT tokens in return. Yes, that’s right, the users can earn. Users of the platform are able to promote any product or service and in return they get rewarded with SaTT tokens, playing the role of an influencer.