Coinsilium Group Limited

Byzant Web3 Social Network Makes Significant Progress and Welcomes New Partners - Seite 2

One cannot overestimate the role advertising plays as a revenue driver in developing the Web2 social media industry. Advertising revenues have fuelled the whole industry since its early days - as an example in 2023 Facebook ad revenue reached $131.948 billion - and whilst we see Web3 as the foundation to move social networks beyond the exclusive reliance on advertising driven revenue models, we also believe that ad revenues can become a significant engine for growth in the Web3 space.

With partners such as A-Ads and Linkko we are confident that Adbazaar is now well positioned to now start leveraging its first mover advantage to the benefit of the entire Byzant social network ecosystem by providing monetisation opportunities to Byzant applications, its partners and its users.”

Byzant Private TestNet 

Coinsilium is pleased to report that the first phase of the Byzant social media application development has been achieved. A private alpha version is now running in test mode within Byzant’s ecosystem for its partners and advisors. 

The private test mode or TestNet application allows for testing and experimentation where transactions are settled with ‘test tokens’ without any financial risk for its users.

Further updates on the progress and test outcome will be provided in future updates.

Adbazaar Web3 Advertising Network and new Byzant partnerships

Coinsilium is pleased to announce the inclusion of A-ADS as the latest member of the Byzant Collaboration. 

A-ADS is one of the largest and longest established Crypto/Bitcoin advertising networks, currently serving 191 million impressions per day, and is working with Byzant to develop Adbazaar, a smart contract-powered advertising solution within the Byzant suite of applications specifically built for Web3. 

The A-ADS core team members bring an unrivalled 13-year experience in crypto and bitcoin-fuelled advertising and, together with Coinsilium and Indorse, have a founding member interest in the Byzant Web3 Ecosystem.

Advertising is the backbone of Web2 social media monetisation and an underdeveloped source of revenues in the Web3 social media space, and Coinsilium is therefore confident that Web3 advertising can represent a significant opportunity for early entrants in the Web3 space such as Adbazaar, especially with its backing from crypto ad network veterans such as A-ADS.