SaTT is a blockchain company that recently raised $7 million in an ICO, so The Cryptonomist decided to interview his CEO Gauthier Bros to know more about the project and how token sales can still have something to offer.
Can you explain the project?
Sure, we are a blockchain-based smart advertising solution, created to tackle the pain points of the advertising industry such as the lack of transparency in the supply chain, payment delays and more.
SaTT stands for Smart Advertising Transaction Token and is a utility token that enables advertisers to buy smart advertising services on the SaTT ethereum-based dApp. All transactions between advertisers and influencers/publishers are governed by the SaTT smart contract which automatically ensures that speed, transparency, security, and cost-efficiency are all factored in.
Blockchain oracles are deployed by the SaTT dApp to retrieve data from 3rd-party API of social media platforms like YouTube, Facebook, Twitter, Instagram etc. Actions taken such as LIKES, SHARES, VIEWS, TWEETS etc. can then be evaluated which helps to quantify ROI, presently a huge concern for advertisers and marketers.
When all criteria, agreed upon between the advertiser and the influencer/publisher, is successfully met, payments are triggered automatically from the advertiser’s preloaded budget to the wallet of the influencer/publisher. As you can see, the SaTT smart advertising system is designed to be fast, tamper-proof, secure and cost-efficient, a perfect use case of the ethereum smart contract.
What is ready, on the whole platform? What can a marketer/influencer do?
Our MVP is already online and allows :
- Advertisers/Marketers to list their advertising campaign on the SaTT platform and to enter the number of tokens available for their campaign. They can allocate tokens according to which social media platforms they wish to be promoted on. For example, you can allocate a certain number of tokens to Youtube, Twitter, Linkedin and/or Facebook. Advertisers/Marketers can also remunerate influencers who have participated in their campaigns according to the performance of their posts.
- As for the influencers (or micro-influencers), they can also already participate in the campaigns by publishing on social networks and be remunerated according to the performance of their posts.
There will be more features and more different types of media platforms as we continue to improve and upgrade the SaTT smart advertising solution.
Why did you decide to have your own token?
I do believe that the tokenization of projects has really been a revolutionary method of fundraising. By tokenizing a project, investment opportunities are democratized and you are giving access to basically anyone to be a supporter and then to benefit when the project takes off.
This is such a relief for projects when they are raising funds for development as compared to IPOs with their rigid requirements. Smaller and medium-sized projects would never see the time of day if IPOs were the only way to implement a public sale. Same goes for investors, tokenization has allowed smaller investors to be a part of something they believe can make it.
Having tokens also gives the project a means to implement different programs and reward systems within the project’s ecosystem. I think what is important is that the project continues to improve and develop because this will eventually grow the token’s value, benefiting everyone who backed it.
What’s the difference with other marketing projects like aqilliZ, Brave or normal aggregators like Addragon and Coinzilla?
From what I know, aqilliZ is also a working smart advertising solution but they are built on the Zilliqa blockchain (we are on Ethereum) and they allege to work with FoodPanda. Brave is a web browser where they value attention and content creators, rewarding users with the Basic Attention Token (BAT). Addragon is more about media buys and ad placements, like banners and advertisements. Coinzilla allows you to buy press releases and sponsored articles.
From all the platforms that you mentioned, aqilliZ seems the most like us. The rest are various advertising solutions that focus on the different areas of advertising. I’m not really familiar with aquilliZ as they haven’t really explained their platform publicly so I can’t really comment as I don’t have the details about how the platform actually works.
You raised 7 mln in an ICO. So, do you still think ICO is a good method for raising funds? Why was yours successful according to you, in a period when tons of other ICOs are failing?
I do believe the fact that we have focused very hard on having a working platform is one of the main reasons that investors decided to back the SaTT project.
Amid the ICO hype in late 2017 and part of 2018, many projects were touting blockchain solutions but most of them failed to deliver a working product and that was the reason why those projects and tokens died off. This caused investors in general to become very wary of blockchain projects because hype alone cannot sustain a project’s continued success.
Our core team comes from Atayen, Inc and we have already provided technology solutions such as our Facebook pages for business apps, so we understand what it takes to deliver these kinds of solutions. It’s seriously no walk in the park and the amount of RnD, trial and error that a project is willing to undergo is a testament to how committed the team is to the project.
All of these factors played into our successful fundraising. SaTT is a project that is committed to delivery and we are not interested in being a flash in the pan. We want to be a solution widely adopted by our industry.
With Ethereum becoming very expensive in terms of gas fees, why did you decide to use this blockchain and how will you solve the fee issue?
Right now, we have created the SaTTv token as a centralized version of the SaTT token for limited use on the platform and not have to pay gas fees. However, if a more stable, efficient and cheaper version of Ethereum comes along, and gas fees continue in this fashion or become even more expensive, then yes, we might consider moving to such a blockchain.
Which oracles do you use?
Currently, our blockchain oracles work with YouTube, Facebook, Twitter and Instagram, some of the more popular media platforms. However, we will be developing more oracles to work with other popular platforms. In fact right now, one for TikTok is actually in the works – yes you heard it here first!
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