Bitcoin Cash Network-Based MemoPay Onchain Advertising Service Is Here
Advertising across the world has transformed in the last few decades as multitudes are able to receive the information through various means. The advertising world is yet to be saturated as the adoption of digital money continues to grow. New advertising solutions using digital currencies are being used to reach a larger audience to increase marketability of the products advertised. One such improvement is the MemoPay application that allows users to share promotional content through its on-chain advertising on the Bitcoin Cash network.
The MemoPay Advertising Application
MemoPay is an advertising application that will allow advertisers to send on-chain ads to BCH wallet holders. The application works by allowing advertisers or individuals to encode a small message to the transaction through an OP_return transaction. The messages are then accessible through the Bitcoin.com, BTC.com and Blockchair blockchain explorers.
The MemoPay application is basically tipping the wallet holders “for their attention”. The app sends thousands of messages to consumers attaching a fraction of BCH to entice users to open the message. The BCH dust is sent to active BCH wallets. MemoPay has held six on-chain transactions (advertisements) sending out over 101,462,181 satoshis with the average transaction being 0.00001111 BCH (1111 satoshis). As of time of writing, the six advertisements had over 93,000 messages delivered and opened.
How To Advertise On MemoPay
Companies and individuals who wish to run an advertisement on the MemoPay platform need to choose the ad mode required. This will allow them to select between driving traffic to a site, pay per click or CPS and pay for the messages delivered to the audience. Further registration of the ad is required as well as customization of the advertising message to attract users. The penultimate step is funding your account to pay out for the service and you will be almost ready to run your ads. Finally, user will receive a link to the ad dashboard where they can follow in real time the progress of their set-up advertisement.
Benefits Of MemoPay
The application offers users a number of benefits as it provides a direct connection to the Bitcoin Cash holders. With a maximum return of 2.5% CPR in 24 hours, the application offers a better advertising opportunity than traditional methods.
The platform records every message on the blockchain that makes it permanent and immutable. The advertisements are also keyword agnostic allowing users to pay the same price for any keyword selected. Furthermore the application is transparent and public on the blockchain hence users are assured of their cost per click and cost per send spending. The official MemoPay website further terms the application “respectful to people” as it pays for your attention to view the advertisement.