Blockchain’s 1World Online Shares Revenue With Advertisers, Brands and Customersbr>
1World Online is a blockchain-powered engagement and revenue platform for publishers and brands. It has raised $5 million in an ongoing ICO that extends to Nov. 16, with more than 400+ backers of its 1WO token.
CEO and Founder of 1World Alex Fedosseev talked with Block Tribune about his service.
BLOCK TRIBUNE: Tell me about your company.
ALEX FEDOSSEEV: One World is a five year-old company based in Silicon Valley, California. We develop platforms for publishers and brands that increases engagement online and brings up all the metrics for publishers such as time on the site, number of places visited, and the overally revenue coming from advertising. We have worked in many countries in many languages, so we have really good traction … US, India, Latin America, Singapore, and many other countries. People are actually incentivized for voting, for sharing, for doing things online on the site, and now with the blockchain revolution happening, we decided that this was the perfect fit to make it more structured, reliable, and based on the technology that allows you to not only give people points but give them actual currency they can redeem and use on there, for their purposes.
BLOCK TRIBUNE: Explain how this works for a publisher and then explain how this would work for somebody who’s seen an advertisement online.
ALEX FEDOSSEEV: Yeah, there are two cases. One is a pure engagement, and the second is advertising. And down the road there is commercial research as well. So for people, when they come on our site they see One World widgets with questions, polls, quizzes, debates, trivia feeds, next to the article, so it’s a very organic match. You can read the article about new gadget, you potentially see a poll about this new gadget. Or we have a sports article and then trivia about your favorite team. And when you participate you get awarded the points, which now can be converted to One World tokens. So [inaudible 00:01:55]. People can see a clear motivation, they get excited, they register and they essentially get their wallets. So they earn real tokens from their activities.
So far, the advertisers are paying either programmatic or direct deals. So this money comes with two publishers through One World implement. Because we have space in our widgets for both the poll questions and advertisements. So in this case we’re using the 70/20/10 approach, which is approximate but usually that’s what works. The revenue from this advertising, 70% goes to publisher, very much like it does today on the revenue share principles. 20% goes to One World for delivering technology and delivering the feed of advertising. And 10% goes to the readers. So they become a part of the revenue in this model. So they get some money from advertising. So that’s the idea, everybody benefits from it. It’s a whole triangle, advertisers get discount, publishers get increase of engagement and all the metrics, and readers get incentives.
BLOCK TRIBUNE: Was this not possible before block chain?
ALEX FEDOSSEEV: No, because the oldest disjointed loyalty programs or keeping information in private databases, they’re very cumbersome, very hard to manage. They’re not consistent, also. People are not gonna register ten different times on ten different sites and get ten different wallets. I mean it’s just not practical. I don’t believe any publishers are deploying this program today, with such incentives for the audience. But the One World solution has become the consistent way to handle transactions when people redeem their tokens and they can use these tokens, it can be happening in the public with block chain network. Which is what we’re doing.
BLOCK TRIBUNE: What are some of your success stories so far?
ALEX FEDOSSEEV: We have quite a few very loyal customers over the years. Like for example, San Francisco Media Company, the San Francisco Examiner and Weekly, they increased their engagement 2x after starting using One World. They have like the lowest bounce rate I’ve seen across many, many publishers. And they are making good money from our network, from the advertising network.
We have quite a few other interesting cases, like we did a couple of commercial studies for Google through our general contractor in San Francisco called [inaudible 00:04:07]. So we collected some global data for them, that’s more on the commercial side. And Wahlberg’s was our customer department in Florida who is running public affairs companies for big brands. All of them are using One World too, but in different ways. Just for engagement, or for advertising or for commercial data collection. That’s why One World has an increasing value of all coming together, increased engagement, the money from advertising, but also commercial data collection. For example, mini surveys or global data collection, feedback collection for brands. So these are the quick success stories.
BLOCK TRIBUNE: Would this work for longer form content as well as short form? In other words, it’s one thing to read a newspaper article. It’s another thing to read a book, for example.
ALEX FEDOSSEEV: Yeah, that’s a very good point, because I believe that our tools can supplement the content in a variety of ways. So publishers can select from the library, they’re selecting both the format of the widgets, they can customize it, they can also select the sources of the polls. From us, from crowd, who create themselves, but also they can create the experiences, because we have an open platform that has very powerful API available to developers that will create custom experiences. So they can either take our widgets as is, customize and deploy them, or they can create their own experiences for both short tale and long tale type of stories and make it truly a good match.
So we provide value in both the technology side and the content side. Anyway, think about for example, I’ll give you a good example, the poll news about the news. Let’s say some big news is out on the wire in the morning, everybody’s talking about it and of course many publishers immediately create questions to poll the audience, get their opinions. So within 24 hours so many votes collected that it becomes an interesting story on it’s own. What do people think about this news? It’s usually packaged as a nice infographic, it shows up next morning in the same publication or sometimes it goes to print. That’s what our clients do in India and Latin America. El Universal in Latin America and Times in India, they quite often publish results of One World polling in digital and their print publications, which makes the story much more deeper and more sophisticated. You’re not only telling what happened but also report what people think about it. That’s a huge benefit for content creation.
BLOCK TRIBUNE: If an individual is interacting with this platform, can they actually make a significant amount of money? Or because it’s micro transactions, it would take activity 24 hours a day in order to generate significant revenue?
ALEX FEDOSSEEV: That’s a very good question. I would say there are two parts in my response. One is that if people are really active I think they’re going to make a decent amount of money. Very similar to how they earn miles by doing online activities. So over time I think it builds up. But also, on top of this incentive for engagement and watching advertising, we introduced the mini surveys. We did a pilot last year and in this case, people can go for as many surveys as they’re interested in, and actually do make real good money. Especially expecting it to be a big, very popular type of engagement in the developing countries, even India. Some folks make only a couple of bucks a day and they still live on it somehow, they can make $5 per day and that does make a difference to them.
So I do believe we can bring a significant improvement in quality of life down the road, by giving them some other ways to make money online. Participate in surveys, not only just engagement but also doing some other things, like contributing to content and other engagements.
BLOCK TRIBUNE: You mention that you’re going to be developing a third part, a research arm. Tell me about that.
ALEX FEDOSSEEV: Yeah, the research part is coming in two pieces. One is that we already have a mechanism to run commercial surveys from brands within our widgets. So that’s already in the pilot phase and we’re developing it further by connecting to a marketplace for online research. So that’s what we’re doing immediately. But where I see the big value of One World down the road is a big data player, because a number of words we already collected, about 48 million, that’s a really huge value. It was collected across many types and many places. Like for example, last year we were part of the Michael Bloomberg initial data collection when he was still thinking about running for president. So we were actually on the Bloomberg for president site as a tool for feedback collection.
So I can see this interesting for public affairs and political complaints, because One World tool is really good for collecting people’s opinions across the spectrum. From left to right and everything in between. That’s where I see the future of One World becoming a huge big data collection agent across many sites, many languages, in many countries. That’s where I think the big value will come from.
BLOCK TRIBUNE: Is there any way to extrapolate the data and come up with new conclusions? Is that what you’re trying to achieve through that?
ALEX FEDOSSEEV: Absolutely. They’ve been talking about predictive analytics here. We did press releases last year around the US elections and one of our team members, professor Augie Grant from the University of South Carolina, he predicted the primaries in the states of Texas and South Carolina, better than anybody else. He was using POP, poll-of-polls approach. And you can google us about this, the predictions that we have published them and we have turned out to be better than anyone else. Better than Fox, CNN, and other predictors. So yes, the answer is absolutely yes. Not only it can see what people think today but I can do some extrapolations and predictions about where the trends will go. In regards to predictive analysis, we did just a couple of pilot studies of this nature and we were right on, but there’s much more we can do with the resources from IPO.
BLOCK TRIBUNE: Did your platform predict Trump’s victory in the Presidential race?
ALEX FEDOSSEEV: No. No, this one we missed, of course, like everyone else. But Augie Grant made a very good prediction about the popular vote. He was closer than almost anybody else, but he still missed the winner, yes.