Foreground.io’s token sale gets underway on November 28. Find out everything you need to know about the marketing platform today in our review.
What is Foreground.io?
Foreground.io is a marketing platform where advertisers can create promotions, define payment terms, and track their ad spend directly on the blockchain. It’s a complete cost per sale (CPS) network that replaces the middleman with a blockchain.
The Foreground.io ICO started on November 28. Unlike many other ICOs, Foreground.io has a working platform available before the launch of the ICO.
Foreground is built on the Ethereum blockchain. The beta version of the platform launched in November, although a prototype has been available since May.
How Does Foreground.io Work?
Foreground.io’s network connects two participants: advertisers and users (the users are also called “affiliates”). Advertisers are people selling goods – including ICO tokens – online. Users, or affiliates, are people who get a Foreground referral link and earn Ether by using that link to drive traffic to an advertiser’s page.
The core feature of Foreground is that advertisers and publishers can connect directly without the need for a middleman. Payments are sent directly between the two parties. Advertisers can automatically pay publishers directly from their incoming Ether transactions (so as soon as a sale is made, the publisher can receive their cut).
Foreground also enables the creation of Relay Addresses unique to each publisher. These relay addresses are similar to what you see on normal Ethereum accounts, but they’re contracts that have the information needed to split incoming funds between advertisers and publishers. The end result is that decentralized apps (DApps) can be created on the Foreground platform, as well as token sales, ICOs, and affiliate programs. An advertiser might launch a DApp with automated revenue sharing, for example.
- Advertisers find supporters who like their product and want to earn Ether in return for spreading the word about it
- Advertisers can increase sales while earning a guaranteed return on their investment (they’re paying per sale, not per view or conversion)
- All payments are automated via smart contracts and are fully traceable
For Users / Afffiliates
- Anyone can get a Foreground referral link, then start earning Ether by using that link to drive traffic to an advertiser’s page
- Just like an ordinary affiliate/CPS network, you refer users to the offer, then get paid when they make a sale
What Problems Does Foreground Seek to Solve?
Foreground’s whitepaper mentions that advertisers spend nearly $7 billion on affiliate marketing every year, but almost 40% of that spend never makes it to publishers. That’s because the market is controlled by middlemen whose incentives aren’t aligned with the interests of publishers and advertisers.
In today’s system, networks and service providers capture too much spend. This leaves advertisers struggling to see a return on their affiliate programs, while publishers struggle to convert traffic into earnings.
With that in mind, Foreground replaces those middlemen with a decentralized, blockchain-based system that connects advertisers and publishers directly. Foreground’s whitepaper believes its solution solves all of the following problems:
Price: Foreground enables extremely low advertiser costs and high affiliate commissions because the system is completely automated.
Control of Program: Individual advertisers have complete control of which affiliates are allowed into their programs.
Program Restrictions: Centralized networks choose who can be added to the platform, while Foreground operates as an open platform where each participant decides who they would like to partner with.
Credibility: Credibility on the Foreground platform is determined by each individual participant. An in-platform reputation is based on a history of conversions (for publishers) or a history of payments (for advertisers). Users don’t need to trust the whims of an advertising network in order to get paid.
Access to Affiliates: Advertisers and affiliates can interact with each other in a standardized way over a standard interface on the Ethereum blockchain.
Support and Services: Foreground aims to offer better support and services because “advertisers using the Foreground network must manage their affiliate programs as if they were working directly with their affiliates because they are,” explains the whitepaper.
Who’s Behind Foreground.io?
Foreground was created under the umbrella of Productive Edge, a Chicago-based digital consulting firm that operates in several spaces, including virtual reality, big data, cloud computing, and blockchain. The company describes itself as a “full-stack digital transformation consultancy that delivers complex software solutions for clients around the world.”
Key members of the team include Rick Feiner (Founder and CEO), Shane van Coller (Technical Architect), and Sergey Ilin (Technical Architect).
A prototype of Foreground was launched in May 2017, with a beta version launched in November 2017.
The Foreground Token Sale
Foreground’s in-platform tokens are called DEAL tokens. DEAL tokens provide advertisers with discounts on the Foreground platform. 1 DEAL token gives you 80% off Foreground fees, up to 0.5 ETH.
There’s a maximum supply of just 450,000 DEAL tokens. 74% of those (333,000 tokens) are being offered to the public. A minimum of 20,000 tokens (1300 ETH) must be sold during the token sale, with a hard cap of 333,000 tokens (21,666 ETH).
Of the remaining total supply, 10% is going to the development team, 10% to partnerships, 4% for strategic incentives, and 2% for bounties.
The token sale begins on November 28 at 00:00 UTC, with a minimum purchase amount of 1 DEAL token.
Foreground is a new advertising platform that gets rid of the middleman and replaces it with a decentralized app built on the Ethereum blockchain. The platform connects advertisers directly with publishers. Advertisers can setup smart contracts that immediately pay publishers on the completion of a sale.
Overall, Foreground aims to crate a better affiliate network that offers the best benefits for publishers and advertisers. Today’s system sees a disproportionate share of rewards going to middlemen. Foreground wants to disrupt that model.
To learn more about Foreground and their ongoing token sale, visit online today at Foreground.io.