Stephan Iervella’s Sky High Media takes aim at predatory Advertising Platforms with NFT solution
Sheridan, Wyoming, Feb. 13, 2023 (GLOBE NEWSWIRE) —
Calgary, AB – Sky High Media, a pioneer in web3 development, has announced its goal to disrupt the prevalent business model of surveillance capitalism and predatory advertising platforms with its groundbreaking Business-to-Consumer NFT platform.
The new platform provides a decentralized and publicly owned alternative to the current digital trading infrastructure, dominated by a handful of companies. This announcement comes amid growing concern about the negative impact of the existing digital marketplace on both consumers and businesses and a growing interest in alternatives that prioritize their interests.
“Internet commerce, which is fast becoming the dominant form of commerce in general, is now overwhelmingly channeled through a few corporate giants,” said Stephen Iervella, founder and CTO of Sky High Media. “Social platforms and search engines have evolved into digital advertising intermediaries that monetize consumer data for profit. Companies and consumers, now essentially forced to use this infrastructure for commerce, have lost the power they once had to shape development. In instead, they have to navigate an opaque landscape of ever-changing rules made by companies unaccountable to the public.”
Iervella added that the problem with the current digital marketplace lies not only in its lack of accountability to the public, but also in the fact that it is driven by interests that often clash with the interests of the businesses and consumers who use it. Despite this, businesses and consumers are becoming increasingly dependent on these platforms for advertising, selling, researching and purchasing products and services.
This problem lies at the heart of what Harvard Business School fellow Shoshana Zuboff has referred to as “surveillance capitalism.” In this model, users, once known as market participants, are given a service, such as the ability to share photos with friends, but in reality the data collected about these users is used to power the behavioral markets for future markets. The data is fed into machine intelligence and transformed into prediction products that predict what users will do now, soon and later.
“In other words, consumers are monitored for the data they generate, and then products and services are pushed to them based on that data,” Iervella said. “This has led to a situation where the ease of falsifying reviews has driven otherwise honest sellers to engage in fraudulent behavior just to compete.”
“There is significant potential for antitrust actions and new regulations to disrupt the capitalist surveillance model, and if that model is forcibly disrupted, the proposed NFT platform will be well positioned as a viable alternative, as it places ownership and control of consumer data in the hands of consumers and will be unique in its ability to comply with new data protection measures. Furthermore, with the growing concern about privacy among consumers following the Cambridge Analytica scandal, there is a growing interest in alternatives to the Silicon Valley tech giants.”
The white paper outlining the peer-to-peer NFT platform, which has been written and amended since 2016, is finally to be published to the public. The document describes the company’s vision for a decentralized and publicly owned digital trading infrastructure that prioritizes small and local businesses.
“When I created the whitepaper, I aimed to challenge the prevailing norms and trigger a paradigm shift. At the time, the technological infrastructure was not yet robust enough for full implementation.
As the understanding and awareness of NFTs and their potential to use publicly distributed ledgers has spread beyond the technology development sphere, it has become apparent that significant amounts of data can be securely and verifiably entered into transactions. The technology has evolved to the point where it is now ready to realize its potential as the next iteration of the internet.”
Sky High Media’s announcement marks a significant step forward in the Web3 NFT movement and a major challenge to the current digital trading landscape.
The company is poised to revolutionize the way we think about and participate in digital commerce interactions, putting the power back in the hands of consumers and small businesses. For more information visit https://skyhighmedia.com.
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For more information about Sky High Media, contact the company here:
Sky High Media
Stephen Iervella
1-587 209 4054
[email protected]
99 Gran Plass SW
Calgary, AB Canada
CONTACT: Stephen Iervella
