NOIZ chain, the digital marketing conglomerate, announced it will launch NOIZ tokens with lead investors MindWorks Ventures and Blue Block, aimed at eliminating ad fraud.
Digital media was estimated to take in US$237 billion annually which makes up 40% of the global ad spend. It is expected to grow to US$291 billion or 50% of total ad spend by 2020. However, the industry suffers from ad fraud - particularly through the use of fake clicks and botnets.
Ad fraud caused by fake clicks generated by AI bots will cost advertisers US$19 billion in 2018, which represents 9% of total digital advertising spend. It is foreseen to rise to US$22 billion in 2020, according to NOIZ.
Andy Ann, NOIZ Chain Ltd's CEO said, NOIZ is combining an Artificial Intelligence(AI) system with blockchain technology to create a hybrid proof of engagement concept to fight ad fraud and drive users’ engagement. By interacting with the cognitive ads, users will receive NOIZ tokens which then can be used to redeem discounted services or products.
As customer interactions with the cognitive ads are recorded over the blockchain, not only will it increase transparency, it also gives advertisers direct access to engaged customers for precise targeting which helps future marketing planning.
He added NOIZ tokens is expected to launch in August, with more information following soon.