What is Promodex?

Today we are thrilled to announce the first blockchain-based programmatic promotional marketplace project: ‘PROMODEX’. Before introducing Promodex, we want to provide you with a brief background information and explain some key concepts.

No doubt that television and newspapers were the dominant powers in the advertising market since they were brought into people’s lives. However, we witnessed a tremendous increase in the number of internet users over the past decade, which provided a lucrative opportunity for the advertising industry. In response to this dramatic change in customer behavior, advertising expenditures shifted from traditional channels of television, radio, and newspapers to digital marketing.

Change, however, never ceases. The number of internet users continues to expand, driven by the adoption of mobile phones with internet capabilities. Fueled particularly by the mobile revolution, we have been witnessing the rise of social media platforms such as Facebook, Twitter, Instagram, and TikTok. Today many people spend most of their times on social media platforms, which results in another change in customer behavior. This time we have been observing an apparent shift in advertising budgets from “digital marketing” to “influencer marketing”. While the influencer marketing amounted to just 1,6B USD in 2016, it is expected to reach 14B USD in 2021. It means it has been increasing almost by half every year. And it is expected to be a robust alternative to other digital advertising options in coming years.