Mobile App developers Dubdub created a blockchain-based app that allows creators to upload video content that is tagged with shoppable content.
When a video creator uses Dubdub, they can link products in the video. With this technology, for instance, a how-to video creator can link to the products they used.
Traditionally, video creators monetize through showing ads prior to their video.
Dubdub flips this model and uses blockchain technology to place ad content into the video itself, allowing the viewer to watch without pausing for an advertisement.
The Interactive Video and Experience Protocol Association
The Interactive Video and Experience Protocol (IVEP) is a non-profit that furthers the way we interact with video content online.
IVEP and Dubdub have teamed up to launch the IVEP ecosystem, a new platform for interactive video. The IVEP ecosystem will run on Dubtokens, a new digital currency designed for videographers and developers.
Developers earn tokens by creating apps for videographers and selling them on the IVEP app store. Videographers earn Dubtokens from views and the amount of interactions with links embedded in videos.
IVEP hopes this type of interplay between Developers and content creators put them at the forefront of emerging video technologies like VR and augmented reality.
Removing the inconvenience of a static advertisement played before a video benefits both creators and advertisers. Studies show consumers that engage with shoppable video content are 3.5x more likely to buy a product.
The robust nature of blockchain allows for enhanced data collection with less chance of bot tampering. Traditional online advertisements, on the other hand, are prone to spam-bots and can give misleading or false audience interaction data.
Revenue in the IVEP ecosystem comes from brands that see benefit in this emerging way to promote products. Advertisers who participate in campaigns on the IVEP ecosystem pay for the ads with Dubtokens, which are used to compensate developers and content creators.
The IVEP and Dubtokens could be a promising new way to break out of traditional advertising models while providing the additional benefit of creating a platform for innovation and creation.