Cutting-edge blockchain platform enables brands to measure and monetise authentic consumer engagement via Gaze, providing a new, valuable advertising metrics for brands
Blockchain virtual and augmented reality monetisation platform Gaze Coin today announced that brands can now quantify the impact and value of celebrity endorsements with the introduction of a new advertising metric – “Gaze”.
Defined as active attention and engagement from a consumer, Gaze is measured by the company’s cutting-edge blockchain-enabled advertising platform. Brands that implement the platform are able to set bespoke Gaze thresholds to determine desirable consumer attention and engagement.
Unlike traditional online advertising, the Gaze Coin platform support brands in incentivising consumers to spend time engaging with their content. In this model, brands pay consumers for their Gaze, in the form of micro-payments of Ethereum-backed cryptocurrency GZE.
“Current online advertising models are deeply flawed, particularly with high levels of click fraud, which means that brands are paying for engagement with bots, not people,” commented Gaze Coin founder and CEO Jonny Peters.“We’re offering an alternative that not only tracks authentic engagement more accurately, but also enables brands to reward consumers for that engagement, and form direct relationships with them.”
By introducing Gaze as a new advertising metric, brands like H&M will be able to more accurately measure the true value of a brand endorsement from a celebrity like David Beckham. In addition to retail sales, they will also be able to measure – and put a financial value on – the amount of Gaze that supporting digital content earned from real consumers.
“As the digital world continues to explode with new content, consumers are becoming increasingly selective about how and where they spend their time, which creates massive challenges for brand advertising. Even leading brands with the most popular celebrity ambassadors can struggle to earn mindshare,” says Peters.
“The Gaze metric acknowledges that genuine attention is a scarce, valuable resource that brands want – and the Gaze Coin platform enables them to harness it and reward consumers for giving it.”
Operating in the Virtual and Augmented Reality (VR/AR) arena, Gaze Coin’s cutting-edge technology also offers brands a way to successfully monetise their presence in this space in a way that has never been possible before.
“Consumers are hungry for the more immersive VR/AR experiences, but brands have been reluctant because the traditional advertising models simply haven’t worked in these worlds,” commented Peters.
“We’re excited to be able to offer leading brands the opportunity to extend their celebrity endorsements – like H&M and David Beckham – into more immersive VR/AR experiences that not only meet consumer demand, but can also be monetised.”