NEW YORK, Dec. 14, 2017 /PRNewswire/ -- MadHive™, a leader in the ad tech space and a developer of blockchain solutions for the media and advertising industry, along with The MAD Foundation, announced today the opening of their Token Generation Event (TGE) to create an open blockchain network, called the MAD Network.
The MAD Network is a decentralized ad tech ecosystem designed to minimize the role of intermediaries and return lost value to both advertisers and publishers. Leveraging MadHive's status as one of the largest OTT ad buyers in the world, the network's strategy focuses on a TV-first rollout, beginning with regional and local advanced television. This is an $18B/yr market, where MadHive has already gained traction through 46 television stations in 38 markets.
With MAD Network, ad transactions are completely open and accessible by all relevant parties. Blockchain technology gives confidence in the veracity of the data and MADtoken is escrowed to activate a payment channel for the accounting, fulfillment, and instant reconciliation of ad delivery.
For advertisers, this will mean more innovative opportunities to engage their data and establish new customer connections, while publishers will be able to grow their brands and better understand their audiences.
"A token economy for the ad industry will flip the market dynamics, making it actually serve the interest of buyers and sellers, which is not always the case in today's supply chain," said Adam Helfgott, CEO of MadHive™. "For the buyer, this results in more working media dollars, while publishers enjoy lower margin compression which currently plagues the digital advertising ecosystem."
The price per MADtoken will begin at 0.25 cents USD. The MAD Network's fundraising goal is to raise $25 million with an implied market capitalization of $55 million. The money raised through the token sale will be initially deployed into MADnet Books, the MAD Network's decentralized payment rail.
There will be a total of 220,000,000 MADtokens which will be distributed as follows:
- Community Token Sale (42%)
- MAD Technologies Foundation (20%)
- MAD Network Founding Team (10%)
- MadHive™ Equity (10%)
- Seed Round (8%)
- Ecosystem Partners (4%)
- TGE Expenses (3%)
- Supervisor Nodes (2%)
- Advisors (1%)
For more information about the TGE and the MAD Network token sale documentation please go to the MAD Network website and select "Resources" from the menu.
MadHive™ is a next generation SSP/DMP that simplifies yield management for sellers by automatically connecting the dots between inventory and data. This layer is 100% transparent on both fees and auction dynamics. MadHive™ gives buyers better quality data and an easy buying interface to achieve media plan goals. MadHive™ uses a blockchain network to achieve these goals, securely connecting inventory sources, data sources and buyers together - bringing supply and demand closer through a secure cryptographic protocol. MadHive™ is headquartered in New York.