A new project is aiming to create a “billion-dollar picture” by launching a cryptocurrency-powered advertising space that is open to everyone.
CryptoPicture is a 1,000 pixel by 1,000 pixel image where businesses and individuals can purchase a block to publicize themselves – personalizing it with a logo and a link to their website. Over time, the company aims to amass a rich patchwork of brands, products and personalities.
The start-up has bold plans to give each advertiser “huge exposure” and international reach through an array of platforms, with the ultimate goal of making the picture visible to millions of prospective customers.
How pricing works
Advertising space in the CryptoPicture can be purchased using Ether, with the cost per unoccupied pixel rising incrementally as more and more of them get filled. As such, those who buy a block early are likely to get the most reasonable rates.
However, there is no plan that the space will belong to a company forever. At any time, a block that is already occupied can be purchased by someone else without the owner’s prior consent. The new buyer would need to pay three times the price per pixel set by the current occupant, with 95 percent of the proceeds going back to the people who have just lost the space. The remaining 5 percent is treated as a transaction fee and collected when the smart contract is completed.
According to CryptoPicture, this mechanism is a form of self-regulation that will ensure the image stays “healthy” and fresh – regularly giving something new to those who view it. When the image is completely full, it means major corporations would be able to snap up the most prominent spaces with ease.
The company believes that tech-savvy companies – especially those in the Blockchain and cryptocurrency sectors – will likely be early adopters of CryptoPicture, with the image initially being given a prominent showing in the crypto community. However, over time, the start-up hopes to pivot to the public at large – incentivizing major consumer brands to advertise in the process.
Getting CryptoPicture “literally everywhere”
CryptoPicture was founded by Victor Sazhin – an inventor with a track record of creating web products which have made the Alexa Top 1000. As well as being behind Free Download Manager, a popular open-source application for Windows PCs, he created the Photo Lab app for smartphones.
Photo Lab has more than 10 mln users every month, and Sazhin plans to “heavily feature” his latest venture through special effects on the app. As a result, the company says “users who edit their photos with those templates inside Photo Lab will promote CryptoPicture themselves.”
The plans for promotion do not end here – with CryptoPicture hoping to end up on billboards, be featured in art museums, and maybe even be painted on to F1 cars in the future.
CryptoPicture argues that such ambition means that even corporations who spend millions of dollars’ worth of Ether on advertising space could get exposure which represents value for money compared with a conventional campaign.
Pixels go on sale
CryptoPicture’s presale has now been completed and gathered $3 mln, according to the company. Advertisers who have already taken out space include Freewallet, HitBTC, Informer.com and BlockShow. Pixels are now available for anyone to buy.
The company says it is willing to welcome many forms of advertising – from artwork to initial coin offerings. However, in time, it hopes to ensure that inappropriate content featuring violence, bad language or pornographic material is regulated by giving voting rights to block owners. The amount of influence that an advertiser has would be tied to the amount of pixels they own in the image.