Q3 2020 Update
Find out what adbank has achieved in Q3 and our plans for the rest of 2020
As always, the update will cover the following sections:
Update on key areas of the business:
- Tech
- Team
- Runway
- Marketing / Sales
Our 2020 Goals Progress — OKR progress
Summary of adbank’s goals in 2020:
You can find our last big roadmap update here. In this post, we outlined what has been achieved so far up to 2019, and the goals for 2020.
Update on key areas of the business:
Tech
In Q3 we experienced some tech issues with the BLADE extensions. One being a second review by Firefox which was resolved in a short amount of time. Secondly, we encountered some bug fixes which the team is working diligently to resolve. The root cause of the issue was the explosion of DeFi and the gas costs that resulted from the congestion on the Ethereum network. When the gas costs are as high as they are the system we have built to interact with the Ethereum blockchain struggles. Right now the solution is being tested and will be pushed to production very shortly.
Team
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. Once we have reached an amount of active daily users on BLADE, we will bring on a dedicated Sales Lead with industry experience and shift resources back to sales. For now, the team is working on aggressive user acquisition strategies. Angus Crawford joined the team in Q2. His position is with the Relay.digital B2B service offering and his role is to secure pilots for Relay.digital.
Runway
One of the major drivers extending our runway was the acquired ad network ECigMedia.com which has struggled due to some regulation changes for the vaping industry. A new hire has been brought in to provide a more complete solution that can be sold to more premium suppliers in the space.
- Our runway model projects past 2021.
Marketing / Sales
Brand Builders Task Marketplace Test
Brand Builder’s use of the Task Marketplace exceeded their expectations! Read the case study here:
Monthly Referral Promos are Back
The community favourite monthly referral promos have been running again in Q3. Pending BLADE tech fixes, we will be launching an even bigger referral promo in Q4!
Relay.digital, adbank’s B2B service offering
Relay.digital, our B2B service offering built on the adbank platform was launched in Q2. It has received interest from 10 smaller users who are ready to be on board for the pilot. What we are waiting on is a premium brand that we can launch this use case with. Currently in discussions with a globally recognizable organization with over 10k employees worldwide.
Media Coverage:
- Three Blockchain Projects to Look for in the Upcoming Months — bitboycrypto.com
- Impacts of Blockchain Technology on the Online Advertising Industry — businesstelegraph.co.uk
We’re also always pleased with the grassroots support we receive through social channels like Twitter and Reddit!
- Blade Reward Program Vs Brave Reward Program — publish0x.com/blockchaintech
- And here are more positive reviews of adbank!
Tutorials:
In Q3 we launched a video tutorial promotion where community members can create a short tutorial explaining how to use BLADE for the chance to win one of three top prizes. The promotion is still ongoing, so enter your video here!
In the meantime, here are some great tutorials that community members have been sharing!
Task Marketplace
We completed one new task on the Task Marketplace in Q3. We have been pleased with the results of each task with participation increasing, low levels of invalid entries, and quick token distribution. In Q3, we planned to focus on non-crypto industries and did so with Brand Builders — and the results exceeded everyone’s expectations! Read the case study here.
In Q4 we plan to continue targeting non-crypto businesses. Our goal is to offer the Task Marketplace as a digital marketing offering which helps businesses boost their online presence through KYC verified social media followers.
Our 2020 Goals Progress — OKR progress
We are focusing on 2 main objectives:
1. BLADE User Growth to 100k
We were pleased to see some incredible growth in new BLADE users! In Q3, we have gained over 43,000 new users! Compare that to 6,700 new users in Q2 and we are very happy with this progress. We are well on our way to achieving our goal of 100,000 users in 2020.
2. Effective CPM over $2.50
2a. Task Marketplace Performing Well — The Task Marketplace has continued to perform at a high level. In Q2 crypto project Skeinera published a case study. In Q3 we published our case study with non-crypto company Brand Builders. In Q4 we intend to target more companies outside of the crypto space.
2b. World’s First Ad Creative Case Study — In 2020 we will test and demonstrate as a case study the increased engagement a brand can get from an “easter egg hunt” campaign that can only be run on BLADE. The plans to launch this campaign in Q3 were put on pause until some bug fixes with BLADE are resolved.
2c. BLADE live on a new browser: Microsoft Edge! This is on the schedule for Q4 once we are back and stable on Chrome and Firefox.
Don’t forget to join the Telegram channel here to chat with the team and get all the news first!
