Introduction to Signal Token Protocol
Spectiv is the creator and initial adopter of the Signal Token protocol. This protocol decentralizes the interaction between advertisers, content publishers, viewers, and curators. It is open-source and intended for other media platforms to build upon. This article explains the token’s utility and crowdsale details.
Signal Tokens (SIGs) will be publicly sold through a token sale event. The sale will open on 12/08/2017 at 2:00PM (GMT -5) and will run through 12/29/17. The number of SIGs sold will determine the total number of SIGs created. The public token sale will be capped at US$40MM. The sale will end immediately if the max cap is reached. SIGs will be sold at a fixed price of $0.50 each with some early bird bonus opportunities. The Sigs crowdsale will be hosted at www.spectivvr.com.
Signal Tokens (SIGs) Protocol
Signal Tokens (SIGs) — Decentralizing Attention Markets
The Signal Token Protocol (“Protocol”) is designed to decentralize the buying, selling and rewarding of attention by removing the middleman from the equation. This is achieved through Ad Campaign Smart Contracts.
A. Ad Campaign Smart Contract
Using the Protocol, an advertiser can use SIGs via a smart contract associated with target content. This content is now active, or “hot,” which means publishers, viewers, and curators can engage with that advertiser through the smart contract and be rewarded with SIGs for driving attention to that content.
Every ad view, click, and reward that occurs is communicated to the Ad Campaign Smart Contract through a third-party oracle. The Ad Campaign Smart Contract will then autonomously distribute SIGs to the users participating in that engagement.
By utilizing smart contracts, a publicly verifiable blockchain, and trusted oracles, this protocol can directly disintermediate the “trade” of attention.
The Protocol enables advertisers to execute ad campaigns by directly rewarding the producers, providers, and influencers of attention — rather than going through a broker. Advertisers can target their smart contract to a wide portfolio of content or even one specific media item. Advertisers choose the budget of their campaign by committing the exact number of SIGs that they want to be dispersed.
Advertisers also set custom conditions for the smart contract; e.g. .01 Sigs rewarded per ad click or .05 Sigs rewarded per ad click. This supports a transparent, competitive marketplace, where participants compete for the highest-rewarding smart contract. Advertisers can then visibly aim for low-cost, or appropriate and effective cost campaigns. This provides a reward opportunity for all participants.
B. An Open-Source Protocol
The Spectiv Company developed the Signal Token Protocol specifically for use within Spectiv, but we understand that accurate attention data analytics is difficult to perfect. Additionally, we understand that for real-world advertisers to engage with SIGs, the protocol must accommodate more than just Spectiv content.
We have developed SIGs for any ad-driven media platform to use and build upon; video-based, audio-based, written-based, or mixed. In other words, the SIG’s utility is not fixed to Spectiv. Rather, it is built to be its own decentralized, autonomous protocol that can support multiple attention economies. Each media platform can integrate its own unique mechanisms for monitoring genuine attention data, contributing to the long-term effectiveness of the protocol.
Signal Tokens — Initial Use Case: Spectiv VR
Decentralized protocols make great sense in theory, but are often faced with a fatal challenge when applied to the real world: early adoption. Without a dedicated early adopter to champion a new product, it can be extremely difficult to generate traction and compete with established players.
Spectiv serves as the pioneer and first use case for the Signal Token Protocol.
Through trial ad campaigns, SIGs can be used to experiment with protocol economics and develop early abuse-mitigation logic using real attention data. This can provide a strong, welcoming foundation for other media platforms to use and build upon its architecture, thereby providing a protocol for the reward of attention.
The Spectiv Company’s ultimate goal is to become the foundational layer for connecting and transacting rewards between advertisers, publishers, curators and viewers across a variety of platforms, the first of which is Spectiv.
Below we have listed the fundamental, open-source uses for Signal Tokens that will implemented into the Spectiv platform:
A. Publishers
When a publisher contributes VR content, they will have the option to be included in all Ad Campaign Smart Contracts for that particular content. To do this, a publisher can simply tie their SIG wallet to the content they contributed. If an advertiser runs a campaign on that content, the publisher will be rewarded with a percentage of SIGs for every view and conversion that was incurred while hosting the ad.
B. Viewers
Viewers are able to get SIG rewards by directly engaging with advertisements. If a media platform adopts the Protocol, it can offer registered users the option to obtain SIG rewards. This simply ties the user’s Sig wallet to their account on the platform. When this viewer watches a full ad, visits a link, or makes a purchase, that information is sent to the relevant Ad Campaign Smart Contract. If engagement conditions are met, the contract distributes a fraction of SIGs to the viewer’s wallet.
C. Curators
Curators can be rewarded with SIGs for sharing content with their friends and followers. To do this, a curator must generate a personalized Signal link URL to the content they wish to share. This unique URL connects the curator with the content. If the curator shares this link with their followers, all attention driven through the link will be tracked and communicated to the Ad Campaign Smart Contract. If reward conditions are met, the contract will distribute a portion of SIGs to the curator’s wallet.
D. Tips
The community-driven user-to-user tipping system within Spectiv is one of the most unique features of the platform. It works on a “rapid-tap” basis, wherein viewers can tap a small token button on their viewing interface while engaging in a VR experience. Tapping this button expresses a “like” for the content while also sending a miniscule tip to the creator. These small denomination SIG tips create a powerful interactive user dynamic between viewers and content creators. This is because viewers from around the world may be more inclined to contribute to streamers when the contribution is gamified and immaterial. It also means the average publisher can be rewarded based on the breadth of contributing viewers.
Note that this can also reduce “like” spam or act as a control for “like” farming, the intent of which is solely to appear as if a specific content is popular.
E. Premium Content
Spectiv users will be able to use SIGs to redeem for pay-to-play VR content such as live event passes, VR movies, Spectiv Originals, and more. During the beta Platform, these sales will be executed at a discount against the USD rate if paid for in SIGs. This encourages publishers, viewers, curators to earn SIGs by engaging with ads, generating crucial early data and feedback that we will use to optimize Spectiv’s ad campaign economics.
F. Indicating Preference
Spectiv users who hold SIGs will have the ability to show their support for particular content that they would like to see on the platform. These act as a feedback from viewers to Spectiv in relation to major content contributions (for example, which country might be featured for an exclusive VR walkthrough). This aspect is important to Spectiv as it engages the audience by giving them what they’d like to see and experience.
