- Summary:
- HypeLab says its proprietary data based on blockchain technology gives a more accurate representation of consumer spending and behaviour.
HypeLab, a pioneering web3 advertising startup, has just raised $4 million in seed capital. The round was led by leading VC firms Shima Capital and Makers Fund. The startup says it will use the funding to help it fulfill its vision of becoming a leader in the emerging web3 market by providing innovative advertising solutions powered by blockchain data.
Hypelab’s innovative approach to Web3 advertisement
Hypelab was co-founded by Ed Weng, a former Google product manager with a long experience in digital advertising. The firm’s marketing strategy centres on reaching businesses whose customers are eager to use blockchain-enabled products and services.
On the business end, HypeLab guarantees its customers seamless advertising on its platform. Their system provides a centralised hub for managing both still and motion pictures, making it ideal for web3 advertising. HypeLab also offers design services to help brands without in-house creatives develop captivating marketing strategies.
The concept behind HypeLab leverages the strength of blockchain technology. For instance, Web3 wallet addresses, in contrast to cookies, can be uniquely linked to a user across all of their devices, and they save a user’s entire transaction history. Since this information is no longer locked within web2’s “walled gardens,” it can be more easily used to deliver targeted advertisements and paint a more complete picture of which strategies work best.
Ad monetization in web3 is a critical method for infusing external cash into the ecosystem, says the Hypelab team, which will unavoidably hasten the acceleration of new user adoption in web3. The firm says it has helped more than fifty companies acquire new Web3 users.
Lead financiers Shima Capital believe HypeLab has a compounding advantage, thanks to its access to proprietary data about user behaviour and ad performance. As a result, the startup will have more data to train its machine learning models for ad personalisation and targeting if the network is engaged early and at a larger scale. Ad network development on web3 rails is a great way to improve this.