Many brands and companies have been struggling as revenues from online advertising have taken a fall. While many solutions have been proposed, a start-up Blockchain company called Scanetchain thinks it has the answer by combining augmented reality (AR) with advertising and cryptocurrency.
The company plans to incorporate AR to create an environment where almost any logo or advert can become an interactive advertisement, with customers being rewarded in cryptocurrency for watching the advertising content.
Using the system devised by Scanetchain, markers can be assigned to products, brands and images, both in the real world and online. Consumers can digitally identify them using a smartphone and be redirected to the Blockchain-based platform the marker has been paired with. Scanetchain say no specialist camera or additional equipment is required.
The idea is that AR markers can be attached to any number of things, such as posters, magazines, shopping bags or business cards. When scanned, these can then provide a great deal of information, such as event details, special offers, videos, manuals and specialist information.
Scanetchain say it plans to make shopping more convenient, even for brick-and-mortar stores. Users can make a decision using additional information provided by the AR, then use their accumulated cryptocurrency to make a purchase.
The company say that is is trying to make the service fast and light by using a cloud-based system similar to data streaming that avoids using up too much cellphone data allocation or storage space. Scanetchain also hopes that its free social network will help the system to spread organically.
The cryptocurrency for the platform is called SWC, and the company has said that all users who hold a taken will have a stake in Scanetchain that lets them vote on certain operational issues. The private sale began on 9th April and is due to end on 13th May, 2018.
Further news on blockchain and cryptocurrency in VR and AR will continue to be covered here on VRFocus.