The Smoke Exchange is a self-serve advertising platform for the marijuana industry. Find out how it works today in our review.
What is the Smoke Exchange?
The Smoke Exchange is a decentralized advertising platform for the marijuana industry. The company’s token sale started on September 30 (pre-sale), with a crowdsale taking place throughout October and November.
The exchange, like other advertising exchanges, will allow advertisers and publishers to buy and sell advertising space on a real-time auction-based bidding platform.
The Smoke Exchange is being developed by the same team that brought us DopeCoin and DopeCoin.com.
What Problems Does the Smoke Exchange Seek to Solve?
There’s one enormous problem with the world of marijuana advertising: most exchanges don’t allow marijuana advertisements. The biggest ad networks in the world, including Google AdWords, Facebook, Taboola, and Outbrain, ban the billion dollar marijuana industry from advertising on the platform.
As a result, companies in the industry are left with one option: go through marketing agencies that manage campaigns on their behalf. These companies charge high prices and attract low-quality traffic. The middlemen and marketing agencies make a lot of money, while the marijuana companies are left with few results.
How Does the Smoke Exchange Work?
Smoke Exchange aims to solve the above problems with a self-serve advertising platform. That platform allows users to track their conversions and statistics in real-time, allowing them to quickly optimize their campaigns for maximum profit.
The end result is an advertising platform that offers the best possible solution to product and service providers in the cannabis industry. It’s designed to be a quick and easy solution for the industry.
The Smoke Exchange prototype is already built. However, it does not appear to be publicly available online. The public beta is scheduled to launch in Q1 2018.
Overall, Smoke Exchange wants to provide the following benefits to three main parties:
- Publishers can escape the high prices and low returns of working with third-party marketing agencies; they’ll earn a better ROI from their advertising campaigns
- Agencies will have a self-serve platform where they can buy traffic for customers and access additional inventory not previously available to them
- Advertisers can control their own marketing campaigns and avoid buying expensive packages filled with low quality traffic from third parties
Smoke Exchange Features
Here are some of the core features of the Smoke Exchange, as outlined on the official website:
- The first self-serve advertising exchange for the marijuana industry
- Operates 100% in cryptocurrency
- Real-time bidding and statistics
- Advanced targeting
- Native advertisements, display ads, pop-ups
- Mobile and desktop ads
- Proprietary anti-fraud protection
- Bi-weekly payouts to publishers
- Easy conversion pixel setup
- Dedicated legal compliance team
- Payouts and deposits available in BTC, ETH, DOPE, and SMX (other MMJ cryptocurrencies will be added later)
- 10% bonus for all payments in DopeCoin
How Does the SMX Token Work?
The Smoke Exchange token (SMX) is used to buy advertising credits on the platform. It’s the only form of currency used internally by the Smoke Exchange.
If you want to buy $100 of advertising credits on the platform, you could have two options – you can transfer $100 of SMX tokens to your advertising account. Or, you can purchase tokens on the Smoke Exchange using BTC, ETH, or DOPE – which will automatically convert into SMX tokens and be available for use.
Meanwhile, publishers who sell advertising space can be paid in BTC, ETH, DOPE, or SMX.
The SMX Token Sale
The SMX token pre-sale is scheduled for September 30 to October 9. We don’t have exact dates for the general ICO at this time, although it’s expected in October and November.
75% of the total supply of SMX tokens will be distributed to the public through the token sale. 15% will be reserved for core development, and 10% for advisors and bounties.
The token sale will have a hard cap of 50,000 Ethereum (across both the pre-sale and ICO), with the pre-sale having a 10,000 ETH cap.
During the ICO, 1 ETH = 300 SMX. Bonuses are available throughout the pre-sale and ICO. The token is an ERC20 token based on Ethereum.
Why did the developers decide to launch a new token instead of just using their original currency, DopeCoin? They claim it’s to crowdfund the Smoke Exchange. They needed a tangible asset to distribute to team members, advisors, and investors.
Who’s Behind the Smoke Exchange?
The Smoke Exchange is led by CEO and Founder Adam Howell, a serial entrepreneur and founder of DopeCoin.com. He’s a PPC specialist who has purchased 7.6 million PPC clicks over the past year alone. Other key members of the team include Alexey Suhih (Blockchain Developer) and Daniel Lagman (Web Developer).
The team launched DopeCoin Gold in Q1 2017, which is also when they announced the creation of an advertising exchange. The beta version of the Smoke Exchange is scheduled to launch in Q1 2018.
The marijuana industry is in dire need of a better advertising solution. Traditional ad networks – like Google and Facebook’s ad networks – won’t touch the marijuana industry. This forces marijuana-related businesses to rely on pricey third party advertising agencies that offer low returns and poor-converting traffic.
The Smoke Exchange aims to solve that problem with a decentralized, self-serve advertising exchange. It’s being developed by the same team that made DopeCoin. To learn more about the Smoke Exchange, or to participate in the ICO, visit online today at SmokeExchange.com.