Coin Edition -
- Web3 marketing solution WOM Protocol will receive a massive grant from Venom Foundation.
- This grant will go into supporting the ongoing decentralization of WOM Protocol’s BULLZ product range.
- Both organizations have expressed their excitement at this development.
Web3 marketing solution WOM Protocol has announced that it is set to receive a sizeable grant from Venom Foundation. Venom is the first Layer-1 blockchain licensed by Abu Dhabi Global Market (ADGM).
Reportedly, this grant will go into supporting the ongoing decentralization of WOM Protocol’s BULLZ product range, by enabling WOM to migrate its former challenge.bullz.com product to the newly launched bullz.io. This is where Venom Foundation will integrate its blockchain infrastructure into the BULLZ Challenge Launchpad. The BULLZ Challenge Launchpad is a tool that enables Web3 projects and creators to airdrop tokens and NFTs to communities in exchange for creative contributions.
Excited about the grant and the BULLZ product range, the WOM Protocol team said, “The strategic partnership furthers the WOM Protocol’s mission of replacing the online advertising industry with Web3-based user-generated marketing, that not only captures value for its creators but provides social capital for advertisers, while giving platforms a user-friendly monetization model.” Speaking about the protocol, the team said:
The WOM Protocol enables advertisers to find, track and reward word-of-mouth recommendations while rewarding creators based on their content engagement and quality ratings. Advertisers benefit from the credibility and authenticity that creators provide, ensuring a transparent and equitable advertising ecosystem that aligns the interests of creators, brands, and platforms.
According to the WOM team, the protocol’s “to-earn” tokenomics is based on existing user behavior, as recommendations are made 2.1 billion times daily. WOM is live and tested, having processed more than 27,886,895 transactions in 2022, and with more than 185k aggregated WOM videos passing authentication.
#Web3 social platforms are pressing reset on the Web2 digital advertising model. By providing greater data autonomy, content ownership, and monetization opportunities, they are transforming the social media landscape for the better. #Decentralization— WOM Protocol (@WOM_protocol) May 9, 2023
The Venom blockchain, which will be integrated into the Challenge Launchpad on bullz.io, is an asynchronous chain that uses sharding technology while maintaining decentralization, scalability, and security. Venom Foundation provides the essential infrastructure enabling startups to grow within a regulated and scalable environment. The Foundation’s primary focus is on technologies in the MENA region.
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