What to Look For in Blockchain Vendors
Publishers should seek out blockchain vendors that have been around the block(chain) for a while.
Knowing which blockchain a vendor uses can help establish legitimacy, and delving deeper can uncover hidden costs. Publishers also need to be prepared to evaluate blockchain and crypto companies as advertisers. Turner Sports’ Yang Adija has been thinking about the ways in which the blockchain can apply to his company since 2017. Partnerships with third-party companies and developers have been crucial, he said.
Watch out for vendors that have their own cryptocurrency or token. Some blockchains are more expressive than others and allow for developers to get more creative. It’s expected that there will be fees coming out of a purchase to cover the cost of operations. Publishers should know how many intermediary coins are involved in the product or on the vendor’s offering. Agency exec: We vet our partnerships very closely.
Publishers’ profitability seems to be a particular point of emphasis among blockchain vendors
According to David Cohn, head of research and development at The Alpha Group, an in-house tech and media incubator for Advance Local, certain blockchains are more expressive than others and allow developers to get more creative with what they do on the network. Creating NFTs is possible on some blockchains, but it’s not in all of them.
Cohn added that although some publishers will be interested in learning which blockchain a vendor is anchored to (a.k.a. what technology powers its product or company), others will be content with knowing that it is one of the more popular ones. “It’s only natural that you want to confirm that the activity is legal.
Entering the weeds might be intimidating, but it will reveal any unaccounted for expenses
Because the so-called “gas costs” rise as the number of cryptocurrencies increases, publishers should be aware of how many intermediate coins are included in the product or on the vendor’s offering, Cohn added.
