Blockchain-based advertising company Bidooh has managed to secure the support of OKEx – one of largest cryptocurrency exchanges in the world. After launching its initial-coin-offering (ICO) pre-sale last week, Bidooh announced this Monday that OKEx will be investing in the ICO and using the advertising company’s digital billboards. Finance Magnates spoke to an OKEx representative who would not confirm the amount that OKEx has invested in Bidooh’s DOOH tokens.
“We believe Bidooh’s platform is well positioned to disrupt the rapidly growing digital advertising market,” said Estrella Du, Investment Manager at OKEx’s investment arm, OK Blockchain Capital. “We are excited to see a real-world example of a traditional business moving to the blockchain for the benefit of both the advertising industry and consumers.”
Aside from participating in the ICO, OKEx will be promoting Bidooh’s DOOH tokens on its platform. Given that the company operates in over a hundred countries, that should give DOOH a wide-reaching audience from which to attract buyers.
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From OKEx to Huobi
“We are delighted to have received this level of institutional support from OKEx…,” said Abdul Alim, co-founder and CEO of Bidooh. “It is very rare for exchanges to engage directly in token sales, so to receive this endorsement is extremely encouraging. We believe this demonstrates just how receptive our Bidooh Platform is to blockchain technology.”
Reciprocating these services, Bidooh will be advertising OKEx’s services on its digital billboards. Digital billboards are now fairly common, but Bidooh’s are slightly different. They allow users to create and distribute adverts immediately from an application. Users can also see the user metrics of a particular billboard and choose to place their advert and messaging accordingly.
Alongside OKEx’s support, Bidooh also announced on Monday that its application to list on Huobi’s HADAX exchange had been fast-tracked. On the exchange operator’s ‘popular projects’ page, DOOH tokens received 150 positive votes and reached the number two spot in the popular projects’ rankings.