My last article on Trybe.One was about the reward theme. After the monetization was described in detail, it goes today in the Advertising on Trybe.One.
Advertising on Trybe.One
First of all, the Trybe whitepaper describes two different types of advertising. On the one hand there is a native possibility to advertise articles, on the other hand a possibility shall be developed to enable the promotion by using the BAT token.
Here a corresponding quotation from the Whitepaper:
Trybe will have two forms of advertising. The native advertising of Trybe will discreetly blend organic with promoted content through the use of a boosted post system. Aside from this, Trybe will have integration with the Brave payments system and BAT (Basic Attention Token). This system allows users full control over the advertising they see, and rewards them for their attention.
So far, only advertising with the TRYBE token is possible. For this reason, the focus of this article will also be here. In principle, it can be said that advertising on the platform will initially be possible with the in-house TRYBE token. In addition to the integration of BAT, the internal system will also be able to be operated with KYN tokens in the distant future. For this the following marginal information from the Whitepaper:
CREATION OF A NEW REWARD TOKEN (KYN)
Once the total supply (2B) of TRYBE tokens have been distributed, or maybe before based on the needs of the platform, a new token, KYN, will be created to reward participants. This new token will have a high inflation rate, and will be issued at the rate of 10,000 new tokens for every new active user that joins the platform.
It should be noted that 2 trillion TRYBE tokens will probably not be available for six years. According to the whitepaper, the KYN token does not play any role before.
Now let’s have a look at the promotion function. The basic principle is simple. A user pays a certain amount of TRYBE, but his contributions are displayed on Trybe.One in sidebars and under other contributions. This offers the user the possibility to increase the visibility of his articles.
If you want to advertise a contribution, you start in the Advertising Portal. This is meanwhile relatively straightforward and looks as follows:
Under observance of different rules and conditions one can initiate the promotion for an article in this portal. For information reasons I quote the reduced version of the basic rules:
Advertising terms and conditions:
– We are only accepting advertising for articles on Trybe. Links to external sites are not accepted.
– Please only link to articles in English. We hope to offer ads on foreign categories soon.
– Please only link to articles related to cryptocurrencies, blockchain technology, or business.
Afterwards you have the possibility to design your “ad”. Title, short description, link and thumbnail are required, as well as a mail address. Afterwards the payment must be regulated. Currently Trybe.One only offers the possibility to pay for CPC. This means Cost-Per-Click. The smallest boost possibility is 10 clicks and currently costs 200 Trybe. Thus a click costs about 20 Trybe.
After selecting the number of desired clicks, you confirm the promotion and then complete the transaction. After that it takes a while until the promotion is checked and becomes active when the guidelines are fulfilled.
After successful activation, the advertised content will increasingly appear on the platform. The current status of the promotion can be seen in the lower part of the advertising portal.
Self is the man
Of course I tested this function once and promoted 3 articles for a total of 1280 TRYBE. For demonstration purposes I would like to show you the status of the promotion after about three days.
As you can clearly see, the conversion rate is not very high. Only very rarely are views converted into clicks, which of course makes me rethink the design of my ad. It is important to consider how essential title, description and thumbnail are. If these are inferior, the interest of the potential reader can be awakened with difficulty. Therefore, it is important to think about the extent to which an advertisement convinces the potential reader to click on it.
For the relatively short time of the display duration, I am surprised that these have already been displayed together over 40,000 times. The contrast to 8 clicks is of course a sobering comparison – there is certainly room for improvement in the future.
So much for direct advertising. As you can see, the whole matter is still quite manageable and expandable, but this is also announced in the whitepaper.
Before I conclude with this article, I would like to comment on three quotes from the whitepaper, which might be of interest for one or the other.
Boosted and original content – balance?
Trybe addresses the problem in the whitepaper. In order to prevent that the number of advertising contributions acts deterrent, this should be consistently limited. According to the whitepaper, at around 10%:
To preserve the intent of the platform, there will be a very careful balance of revenue from advertising and value to the users of the platform. This means that only a fraction of the posts that appear on the page at any one time will be boosted posts (approximately 10%). There will also be the option for users to not see advertising at all, by paying a monthly subscription fee. All promoted posts will be marked as such.
In addition, advertising should be directly related to the categories. This means that an article that has only been published in the category Bitcoin will only be advertised in this category. With several categories in several:
When a user boosts an article, that article will be boosted only in the categories that the article is related to (as chosen by the user and verified by the Primary Editor).
Boosting linked to content quality
So far I could not perceive the realization of the following aspect yet. As described above, I get indicated that the promotion costs 200 TRYBE per 10 clicks for each article. However, the whitepaper states that the costs of advertising should be based on the quality, i.e. the rating, of the respective article to be advertised. In addition the following quotation:
The cost of boosting an article will be closely related to the rating score of that article. The cost of boosting a highly rated article will be less than boosting an article with few or low ratings. This in itself will help to preserve the quality of the site content.
Since I haven’t found anything else, I assume that this aspect will be realized in the future. In principle, however, I find the approach interesting, which is why I have included it in this blog.