Atlas Protocol has reportedly raised an undisclosed investment amount from its seed funding round led by SoftBank China Venture Capital. The funding is also backed by Baidu Ventures, Fenbushi Digital, and Danhua Capital.
As per sources, investors recognized that Atlas Protocol would disrupt the conventional method of interactive advertising and marketing within the blockchain business.
Whilst announcing the seed funding round, the startup didn’t reveal the investment amount gathered. However, sources close to the matter hint that the company would have secured nearly $3 million from its investors.
Mervin Zhou, a partner of SB China Venture Capital, claimed that the interactive advertising market is set to become the next unicorn in the era of the blockchain. Incubated by the xGoogler Blockchain Alliance and Nebula Labs, the company would use blockchain data gathered for smartly marketing to internet users in the future.
At the seed round, Atlas Protocol had pitched a new creative media model for the blockchain market, according to which the company will redefine interactive marketing standards among stakeholders, publishers, and advertisers.
The investors believe Atlas Protocol is the project with a vision and that will address the pain points of the interactive advertisement market with its cutting-edge blockchain technology.
The new model will let the startup collect data through blockchain and authorize marketing firms to incentivize the circulation of such data through a token system. ATP Smartdrop, the application built atop the Atlas Protocol, has already successfully delivered token rewards to over one hundred thousand users, reported the EconoTimes.
Duran Liu, Co-Founder of Atlas Protocol, confirmed that the core algorithm of the company is based on the Nebulas Rank, intended to form a new trustworthy marketing channel and define a new tokenized marketing frontier.
For the record, the startup was founded by former Google engineers Cheng Li and Duran Liu. Financials and terms of the deal have not been disclosed yet.
Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With experience in technical and niche writing, he was encouraged to opt for a career in content writing and now pens down articles pertaining to market research, industry news and business trends.