May Monthly Update
Steady growth and one temporary set back was the theme for May!
Overall the big update right at the end of the month has been the temporary removal of the BLADE extension from the Chrome store. Users can continue to use BLADE and earn ADB by downloading the updated extension at blade.software. We’ve included updated installation instructions here.
In case you missed it, here is the announcement from May 28th to bring you up to speed:
The team has been working through the weekend to determine the best route forward. We have decided to build two extensions for Chrome to ensure we are abiding by their interpretation of the rule of one functionality per extension.
The surprising benefits:
This has produced an unlikely silver lining in which we will have double the presence in the Chrome store for two different sets of SEO keywords, which we know will provide visibility to a much wider audience than just the single extension could.
In addition to increased visibility, users will benefit from the additional functionality of being able to turn the ad replacing function on an off while keeping the ad blocking functionality active, as well as being able to turn both functionalities on and off when necessary.
Timing:
The dev team is still working to determine the exact timeline for getting these two extensions completed and available in the Chrome store. Initial estimates are for 4 weeks of development but this may changes as more information comes available. We will update the community with launch dates as soon as we have them.
How will this affect current users?
When the two new extension launch in the Chrome store, the plan is to update the current extension with one of the new extensions so that all current BLADE users are prompted to download the second extension which will be a quick and easy process. This will eliminate the risk of a loss in user base during this redevelopment.
Keep using BLADE right now!
In the meantime we will continue to show ads on the updated version of BLADE that users can side load at blade.software. This means that all users can continue earning ADB right now!
A big thanks to the team for working hard throughout the weekend to investigate the issue and develop a strong plan in just a few days!
As always the monthly update will cover the following sections:
Monthly outlook and reflection from the CEO
Update on key areas of the business
- Tech
- Team
- Runway
- Marketing / Sales
Our 2019 Goals Progress — OkR progress
Jon (CEO) Outlook:
Right now the focus is on efficiently handling the work to get BLADE back into Chrome. Overall things are progressing well with the following highlights/insights from May.
- The method to acquire users has been tested/verified — ready to scale!
- The value of the impressions and the performance of the campaigns was below expectation which will impact the CPM we can charge advertisers.
- Our single failure dependency on Google may need to be addressed sooner than the roadmap originally planned
- Referral link is going to be big! Lots of interest!
- 50%+ increase in paid campaign spend in May and outlook (pending extension) for June looking good!
I am a believer that utility is a key indicator of longevity and projects that have a clear path to utility will be recognized and supported by the wider crypto community.
This table is very telling to me that we are performing well relative to competitors in terms of adoption:
Key Areas of Business Activity Quick Update:
Tech
- The #1 priority is the handling of the extension update to get back into Chrome. Another full audit of the T&C’s was completed and all risks are known/accepted. We don’t foresee any future issues with approval of the extension in the Chrome store.
- The update that is in the works and will be live in June is most importantly the Referral link (pending Chrome store).
- See the update above for the most up to date information on this update.
Team
The team is locked and loaded and there are no near future plans for any changes. You can see everyone on the team on the website at adbank.network and you can read about the final re-org in this blog post.
Financial / Runway
Slightly ahead of plan, meaning runway model still projects well into 2021. The increase in value in crypto offset the revenue being behind plan.
Marketing
Despite BLADE being available via blade.software instead of the Chrome store for a short time, the team is still pushing for media coverage and user adoption! Here is a roundup of what happened in May and what’s coming up:
Coverage/Mentions in May:
- CryptoBenelux: coin review in Dutch. This also included promotion in several Dutch-language crypto communities across Facebook and Telegram.
- Sponsored ad on one of DataDash’s Youtube videos — over 18,000 views!
- Full feature article “Blockchain In Advertising Use Case #1: AdBank” at DistruptorDaily
- Feature mention “3 Fascinating Business-Related Ethereum Projects” at tokentax.co
- Interview with Jon and follow up video from CryptoMentor99
- 15 organic promotions of personal BLADE referral codes on Youtube, Instagram and various message boards — people are excited about the referral program!
Upcoming Mentions/Coverage — Tentative and Booked:
- Promotional partnership with another crypto project — TBD
- Blockchain magazine feature story — TBD
- More Youtube sponsored promotions, from 9k to over 100k
- Crypto focused podcast with Jon — TBD
- Facebook live with a large crypto community — TBD
In case you missed it, you can see a roundup of previous media coverage for April in this blog post, as well as Q1 roundup in this blog post. You can see a full list of our partnerships on the Partnership Map.
In May, we had 28 advertisers and 56 campaigns running on BLADE — a great second month with increased variety of advertisers. We’re working to find a good fit between advertisers and audience to ensure optimal benefit for everyone — which translates into higher CPM’s and higher rewards!
Since last month, the team secured 3 advertisers in May. This has not depleted the sales pipeline — the team has kept it full with 32 companies interested in running campaigns on BLADE.
Advertiser Case Study: BLADE’s First Month
In case you missed it, we published a case study of how BLADE performed for advertisers in the first month. We looked at CTR (Click Through Rate) primarily and the quality of BLADE’s traffic.
Read the full article here:
Progress Against Core Objectives Update:
1. Objective — BLADE adoption — adbank ad block extension that allows only adbank powered ads through, while rewarding you for viewing those ads!
1a. Key Result — #1 ad block/reward extension used by the crypto community. Attracting many users and a dominant presence within the crypto community especially!
May Update — We experienced some delays with larger pushes due to the desire to have the referral link. Once back in the Chrome store and with the referral link working we look forward to accelerated growth. We will continue to push despite not being in Chrome to grow our audience.
2. Objective — Pilots, Pilots, Pilots — Our pipeline has never been more full and we are bringing on additional team members to help handle!
2a. Key Result — Consistent monthly pilots similar to the Austria & Red Bull pilot, growing to several per month
May Update — Similar to the last update there continues to be a shift away from pilots for the sake of blockchain and our team focus has been on BLADE in April.
3. Objective — Utility driven by operating AdNetworks (Signed agreement to bring some of the largest crypto publishers inventory available on IntergalacticAds.com)
3a. Key Result — IntergalacticAds.com and other vertical ad networks #1 or #2 by market share in their verticals.
May Update — Another strong month for ECig media continuing to beat its previous months performance. Despite some interest coming back, most crypto projects are still not spending on paid traffic therefore IntergalacticAds performance is remaining low at this time; however the pipeline of interested IEO’s is filling up.
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