Blockchain-Based Ad Startup to Refund Contributors if Development Milestones Aren't Met

A digital advertising startup with the goal of "Building a better internet" for web users, publishers and advertisers is embarking on the second round of its token offering - but with a twist.

Varanida says its blockchain has been built for three reasons: improving transparency for brands, increasing revenue for publishers, and giving the public a better experience when they are browsing the internet.

The company plans to achieve these goals by "Improving online digital content and creating incentives for less intrusive ads that people actually want to see." Founded in Lyon, France four years ago, Varanida says it has amassed more than 135,000 users - demonstrating demand for these changes.

For the second round of its token offering, Varanida is using a new hybrid model that blends the traditional format of initial coin offerings with DAICOs - a relatively new concept championed by Ethereum founder Vitalik Buterin.

Varanida's CEO, Anji Ismail, told Cointelegraph: "Our goal has always been to improve the way the digital market provides services and content, while treating privacy, data ownership, and online users' experiences with the greatest respect. This round of our ICO will get our team and contributors one step closer to fulfilling that vision, while making Varanida part of the evolution of ICOs.".

The startup hopes that this arrangement will enable its community of users to have a voice in deciding which milestones are achieved next - providing the Varanida team with insight into the features their stakeholders regard as critical.

According to Varanida, websites using its blockchain enjoy greater amounts of revenue - and this can be reinvested back into supporting "Quality and engaging content." They are also able to erect paywalls without harming their readers' experiences, and receive accurate, transparent, verified statistics that enable them to make informed decisions on their business strategies.

Advertisers can rest assured they are reaching engaged users who have opted in to seeing their campaigns - with Varanida's fraud-free network preventing bots and weeding out fake sites.

Round two of Varanida's token offering ends on Oct 5.

Contributors at each of these stages can receive refunds if pre-agreed milestones are not reached.