- Brave announced a release of a new tool for tracking blockchain marketing startups
- The number of blockchain marketing startups increased by 1200 percent since Q3 2017
- CEO of Brave says that the current digital advertising system “is made to benefit a select few platform operators”
Unprecedented Growth Tempo
Despite the year-long bearish market, the amount of blockchain-related marketing startups continues to grow.
According to the Brave partner Never Stop Marketing research, which has tracked the number of blockchain marketing startups for the last 18 months, there are 290 startups now, whereas in Q3 2017 this number was equal to just 22, representing more than 1200 percent growth.
In February 2018, there were 88 MarTech startups. Here is how their amount changed in the last year:
- Advertising & Promotion sector grew from 24 to 55 companies representing 200% change
- Content Marketing grew from 6 to 38 companies representing 533% change
- Social Marketing increased from 26 to 31 companies representing 19% change
- Commerce grew from 10 to 50 companies representing 490% change
- Data increased from 11 to 38 companies representing 245% change
- Management grew from 3 to 19 companies representing 533% change
The CEO of NSM, Jeremy Epstein, thinks that blockchain technology will have an impact on society similar to that made by the Internet, social and mobile technologies. He said:
“The explosive growth in offerings is proof that multiple sectors are ripe for disruption, regardless of where crypto asset prices are.”
A New Tool to Track MarTech Solutions
On February 13, 2019, Brave announced a release of blockchain MarTech Landscape designed in collaboration with Never Stop Marketing Research. It tracks the type of startups using blockchain and distributed ledger technologies for marketing use cases.
The first column of the tool highlights the Programmatic Advertising category and the specific solutions the startups using blockchain provide, including Supply Chain Transparency, Payment Transparency & Reconciliation, Fraud Prevention, and Rewarding Consumers for their attention.
A Need for the Redesigned Advertising System
Brendan Eich, CEO and co-founder of Brave, described the existing digital advertising system as made to benefit a select few platform operators and ad tech intermediaries, rendering it inefficient for the end users. Eich added:
“This incredible rise of blockchain solutions for marketers is representative of the demand for more balance and greater transparency in the industry.”