Madman's New Paradigm
Apr 04, 2019
Advertising can be both a clever and effective way to grow a business. Iconic ads have become part of our cultural fabric, especially in television and print. Digital advertising, although at times effective, has not found the same place in the hearts and minds of consumers. In fact, polls show that banner ads and pops ups have created contempt and a negative user experience for content users. In a recent survey, 82% of all users said they would pay to see their favorite content if there was a way to eliminate unwanted ads and interruptive experiences.
Well, it seems like the technology of blockchain may offer a solution for a better user experience, while still keeping site revenues intact, by harnessing your unused CPU/GPU computing power and leasing it out to content providers in exchange for an ad-free experience. The content providers, in turn, use that idle computing power to mine crypto in order to create a revenue stream that replaces advertising. This may seem far-fetched, but in fact, if you use an ad blocker on Salon's website, you may be prompted to make such a deal. Salon, the online magazine, has seen ad revenue growth slow. The digital publication is looking for creative ways to combat stagnation and has partnered with Coinhive to make this reality.
Blockchain technology and digital assets are often argued to be either evolution or revolution, depending on who you speak to and what industry they are involved with. What is hard to argue against is the lasting disruption and change in the way we will do business across many industries. Commercials and ads versus a subscription is already a viable business model with firms like Pandora and Spotify. How we pay for that subscription will be the new normal through blockchain technology.
So, is ad-free internet in exchange for unused computing power the new business model for internet content? Only time will tell.