The Bigbom ICO
What is Bigbom?
The Bigbom network is an attempt to capitalize on the US$200 billion digital advertising industry. As search engines like Google and social networks like Facebook and Twitter have grown, digital advertising has overtaken television as the most popular form of advertising. But there are many problems with today’s digital advertising market.
Advertisers never know if their ads will be effective before spending money on them, and the platforms that publish the ads often fail to meet the goals of advertisers. At the same time, platforms often worry that they will not be paid, and advertisers’ account are sometimes locked due to non-payment.
The world needs a solution that allows advertisers and platforms to trust each other. The Bigbom team believes this can be done through a decentralized blockchain network.
How does Bigbom work?
On the Bigbom network, a platform publisher (sellers) can offer advertisers (buyers) a smart contract called the Service Offer Contract. This contract spells out the beginning and ending date for a campaign and the key performance indicators (KPIs) that can be used to measure the campaign’s success.
An individual advertiser can then accept this contract or create a Service Bidding Contract with different terms instead. The seller can also counter with a Service Bidding Contract of its own. If no contract is signed by both parties, this process continues until a winning bid is recorded and a seller is matched up with a buyer.
Once these initial terms are agreed to, the performance indicators of the ad are tracked through Bigbom network. If the KPIs are met, the platform is paid out of BBO held in escrow. Payments take no more than 15-30 seconds to process, yet fees are minimal compared to those charged by credit cards.
After a contract finishes, the seller is encouraged to rate the service received by the buyer. Each participant who leaves a review receives a small amount of Bigbom tokens (BBO) as compensation.
Platforms that get good ratings are moved to the top of the list, allowing them to get more buyers while also encouraging them to provide good service.
Bigbom also uses an algorithm called "iAds" to continuously update ads so that they will perform better. This algorithm runs day or night, eliminating the need for a human user to constantly update the ads.
In order to use the Bigbom iAds algorithm, users simply enter a bid for how much they are willing to spend in a particular time-period. The algorithm then creates multiple ads. These ads undergo A/B testing, and ads that do not perform are scrapped.
In this way, the Bigbom team hopes to create an advertising product superior to any that have existed before.
How is Bigbom unique?
The principal competitors to Bogbom are other decentralized advertising systems like Adhive, Indahash, and Adex. However, these are essentially publishers, not networks intended for matching up publishers with advertisers. In this sense, Bigbom is unique among all advertising networks.
Who makes up the team behind Bigbom?
The team behind Bigbom consists of experts in blockchain, software engineering, and advertising. This includes Founder and CEO Vong Nguyen (also Founder of Adtop), CTO Tuan Co (engineer at VNG and Lazada), Ahn Huynh (marketer for Nguyen Kim, Vietnam Works, and Adtop), Marco Calicchiat (Community Manager of Lockchain.co and Siteground company, Founder of Mazee). It also includes engineers Hung Quoc, Cau Trang, Khanh Nguyen, Tinh Au, and Thanh Nguyen, as well as marketing expert An Nguyen and advisors David Carnell, David Nguyen Vu, Niels Jense de Ruiter, Victor Tran, and Minh Chu.
More details about the Bigbom ICO
The Bigbom ICO is launching at 10am (GMT) on 28 May, 2018 and is due to end at 10am (GMT) on 10 June, 2018. Investors who want to participate will need to **sign up for the whitelis*t. For the public, tokens will be transferable as soon as the ICO ends.*
The Bigbom tokens (BBO) will cost US$0.0348 each, to be paid in ETH equivalent. The team hopes to raise 12,000 ETH. The minimum cap to go forward with the plan has already been reached during the pre-ICO.
The May 28 crowdsale will comply with the following allocation strategy:
16.25% of the tokens will be sold in the ICO and pre-ICO
31.75% will be frozen for 12 months and then used in implementing a fiat payment system for those who wish to use it
30% will be frozen for 12 months and then used for network growth
13% will go to the founders and staff, these will be frozen for 24 months before being released
9% will be used for the bounty and given to advisors. BBO allocated to advisors will be frozen for 12 months