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World Wi-Fi, a Singapore-based blockchain platform, promises a free global Wi-Fi network that will make the digital advertising industry more transparent and provide advertisers more tools for targeting and analyzing their ad campaigns.
The World Wi-Fi network will consist of private residential routers whose owners will offer free Wi-Fi access and be compensated in cryptocurrency by network advertisers. Users will connect to the free Wi-Fi access points on which they will view advertisers’ ads.
The platform is being developed by the creators of Radius Wi-Fi, a service that provides public Wi-Fi network owners with a phone number-based user identification software, and Adrenta, a B2B aggregator of public Wi-Fi hotspots in 80 cities.
The project will provide free Wi-Fi access to most residential locations and high-traffic public locations.
How It Works
The Ethereum blockchain based platform will automatically distribute advertising revenue to the router owners.
The router owners can also receive passive income through a referral rewards program. They will profit from ad sales when users are logged in to their router, and receive additional income from ad sales on access points connected to links they provide.
The platform will give the advertiser tools to select their audience based on detailed but confidential data, including demographic profiles, ad campaign history, conversion history and locations.
The platform shows the advertisement before Internet access is granted to router users, guaranteeing the advertiser’s content will be viewed. Such advertising is both more efficient and more profitable than advertising on search engines or social media.
Advertisers will gain additional capabilities for delivering a fine-tuned advertising campaign and, consequently, from efficiently reaching their target audience while analyzing ad performance. They will gain detailed information about the history of their campaigns, knowing which targeted segments were set up and what products or services were advertised.
Payments In Tokens
Transactions on the platform will be paid in WeToken (WT), an ERC20 standard-compliant token, the supply of which will be limited. The token’s price will be equivalent to that of 10 ad views in World Wi-Fi. Users will be able to convert the tokens into fiat currencies, sell them at cryptocurrency exchanges or use them to pay for advertising on the network.
Transactions will be governed by Ethereum smart contracts that guarantee the speed and security of operations as well as the reliability and transparency of ad campaign data.
“We have analyzed the existing business models and found that blockchain allows creating a worldwide Wi-Fi network that would generate passive income for router owners, reduce advertising costs for advertisers, and provide free Internet access to users,” said Yan Sepiashvili, a co-founder of World Wi-Fi. “It’s a win-win-win situation. Our existing projects, Adrenta and Radius Wi-Fi, dealing in advertising in public Wi-Fi hotspots, will be integrated into the World Wi-Fi platform. In the next three years, it is projected that at least 20 million Wi-Fi routers will be connected to the platform. We’ll bring blockchain into every home.”
One purpose of the project is to make the digital ad industry more transparent.
“The market is run by top publishers and it is non-transparent because of the inefficient and long chains of intermediaries, irrelevant and non-human traffic,” said Ilya Yashin, co-founder and CEO of World Wi-Fi. “Essentially, the advertisers have no clue about what they are spending their money on: in 2017, the market was projected to be worth $205 billion, and almost 50 cents on every dollar spent on advertising went to intermediaries.”
Token Sale Planned
The token sale will begin March 18. World Wi-Fi plans to sell a total 258 million tokens and raise $25 million for further development of the platform. During the token sale, one WeToken will cost $0.1, which is more than three times lower than the market average for 10 ad impressions in Wi-Fi networks. The maximum number of tokens is limited to the amount of $2 million.
The World Wi-Fi demo version has already been soft-launched. The full version will deploy between April and June, 2018.
Alpha-testing will be ready in the beginning of March. At the moment, 100 routers have been connected to World Wi-Fi. Internal testing of the network has already begun.