Blockchain and its place in physical and digital advertising

The global advertising industry reached a staggering $615.2 billion in 2022. This figure is projected to increase significantly and peak at $701.2 billion in 2023. Unfortunately, the industry is not immune to challenges that limit its potential. There are various solutions to these challenges. Some have been tried and tested, while others are new.

Built on the principles of decentralization, immutability and transparency, blockchain technology could be a remedy for all the ills that have plagued the advertising industry.

How Blockchain affects digital and physical advertising

The best way to understand the value proposition of blockchain in the advertising industry is to take a look at some of the challenges that the nascent technology is tipped to solve.

• Data management – Data has become one of the most important currencies in the digital world. Advertisers collect personal data, which they can use for targeted advertising, which is effective in driving sales. The data is collected (and sometimes stored) by centralized systems, making the data vulnerable to breaches and hacks. With blockchain, the data collected can be stored anonymously and privately. Blockchains are also more secure due to their decentralized nature, making them a safe option for storing user data without revealing their identity.
• Prevention of fraud – The cost of ad fraud reached $81 billion in 2022, up from $65 billion the previous year. Fighting ad fraud is a very difficult and complicated battle that requires all hands on deck. Blockchain technology can play a crucial role as it can be used to create robust verification offers for the advertising industry. Non-fraudulent actors can be stored on a blockchain where their information cannot be altered. This enables advertisers to deal with trusted and verified publishers.
• Media Transactions – There are several intermediaries involved when buying or selling advertisements. With blockchain, third-party intermediaries can be eliminated. This lowers the bill for advertisers, allowing them to reach a wider audience with the same budget.
• Trust and openness – the blockchain is known for its transparency and ability to introduce trust between transaction partners. It can do the same for the advertising industry. I
• Loyalty programs – a loyalty program is a rewards program used by businesses and brands to encourage customer retention and bring new ones into the fold. The working principle is simple. Customers earn points or rewards for purchasing goods or services. The points can be redeemed for cash, discounts or something of value. Blockchain can add transparency, immutability and security to a loyalty rewards program. It helps secure customer data and can offer a better incentive system through tokens or NFTs.

Who’s Pushing for Blockchain Innovation in Digital and Physical Advertising?

More traditional and cryptocentric races to unleash the full potential of blockchain technology in advertising. Here are some examples of such companies and what they do or have achieved.

The reserve label

The Reserve Label is a creative studio that brings media, marketing and technology under one roof. With today’s rapid innovation, The Reserve Label has learned an important lesson that companies must adapt or die.

For this reason, The Reserve Label has become one of the original fundamental validators and UI developers of the ReserveBlock (RBX) network.

The ReserveBlock network is an NFT-centric, open source, fully autonomous and decentralized peer-to-peer (P2P) layer 1 blockchain. ReserveBlock’s original token, RBX, has its value determined on open markets on exchanges such as BitMart, Bitrue and Deepcoin.

While The Reserve Label is breaking new ground in the blockchain space, its creative work in the advertising industry is paying off and should not go unnoticed.

Reserve Label has an exciting portfolio of projects in media and advertising, everything from Super Bowl commercials to a range of digital and physical experiences. The platform recently got a taste of the Super Bowl commercials with ‘Drive-Thru’, the first ever Super Bowl ad for Dunkin’ Donuts LLC, a coffee and donut chain with more than 12,900 locations in 42 countries.

Ben Affleck, an acclaimed actor and recipient of the Golden Globe and Academy Awards, directed and starred in the commercial which also featured a cameo by Jennifer Lopez, one of the biggest names in the music and acting industry.

The ad’s success is there for all to see as it generated billions of viral media impressions and ranked fourth on USA Today’s Super Bowl Ad meter. Dunkin’ president Scott Murphy praised the ad campaign while talking about it on CNBC.

Reserve Label is holding its head high as it unveils its latest project – King of CrabWalk – Part 2 – for Hummer. Jacob Rosenberg, in collaboration with industry-leading advertising agency Leo Burnett, directed The Reserve Block’s latest ad campaign featuring NBA living legend Lebron James and his iconic Crab co-stars.

Enhanced by the latest and greatest in visual effects (VFX), the ad campaign places special emphasis on the impressive power and performance of the 2023 Hummer.

This project marks the sixth time The Reserve Label, Rosenberg and Lebron James have worked together.

As the world slowly transitions from Web2 to Web3, The Reserve Label will use the tools provided by The Reserve Block to help celebrities, brands and content creators connect directly with their audience.

The Reserve Block blockchain has features such as self-executing smart contracts and on-chain governance, which make it one of the best networks for creatives. The working partnership between The Reserve Label and The Reserve Block can truly usher in the next chapter of digital and physical advertising.

IBM

International Business Machines, or IBM for short, is a multinational technology company founded in 1911 and headquartered in New York. IBM is building blockchain solutions that aim to reduce the lack of transparency and ad fraud, including in the advertising industry.

What the future holds

The future of blockchain technology in the advertising industry looks very promising. Blockchain technology has already made waves in several industries, and it is not surprising that it will improve transparency, reduce costs by cutting out middlemen, and eliminate ad fraud in the advertising industry.

Reserve Label, using the tools provided by The Reserve Block, will bridge the gap between possibility and reality in the advertising industry.

The Reserve label has shown what it is capable of through its previous ad campaigns. The future looks exciting and in the hands of companies like The Reserve Block that are agile enough to adapt and embrace new technologies.

IBM has also thrown the cabin into the ring, and for such a large technology company to throw its lot in the blockchain advertising space, it means the potential impact blockchain technology can bring to the advertising space.