Advertising technology company Gravity4 has launched its new blockchain marketing cloud token called Lydian, which aims to provide advertising services with increased transaction transparency and reduce advertising fraud.
The company also wants to combine Lydian with its artificial intelligence (AI) marketing engine, Mona Lisa, launched earlier this year, to transform ad tech by digitising and decentralising the validation of transactions.
Lydian is targeted at new companies that have substantial cryptocurrency holdings, but are reluctant to liquidate large sums of cryptocurrencies into fiat currency to purchase services.
“As technological awareness of blockchain continues to increase, every sector of business stands a chance to be disrupted,” said Gravity4 founder and chief executive officer, Gurbaksh Chahal.
“There is a tremendous opportunity to utilize blockchain technology to create efficiencies within the ad tech industry.
“By enabling condition-triggered mechanisms for data to be accessible, it can be shared at scale without any middlemen. Lydian leverages the computing power of the G4 Marketing Cloud, and its data-driven marketing services to provide efficient advertising solutions for the cryptocurrency market.
“This will allow the community to effectively target customers, with verifiable metrics supporting their campaign efficacy. This will eliminate the need for an intermediary to validate the data integrity or ad serving transaction.”
Gravity4 also announced the appointment of Jeffery Seah, former Southeast Asia chief executive officer of Starcom Mediavest to its advisory board, where he will lend his domain and venture capitalist experience to the upcoming token sale for Lydian