engage:BDR Ltd (ASX:EN1) will become the agency of record for cryptocurrency IvyKoinTM and will handle all media buying and marketing activities.
The U.S.-based digital advertising company has signed an agreement with the Ripple competitive business, which is building a blockchain-based cryptocurrency.
IvyKoinTM is for business transactions particularly larger financial transactions and those requiring extensive verification.
Initial US$500,000 campaign
The agreement provides for an initial US$500,000 marketing campaign to be executed through engage:BDR’s influence marketing platform, IconicReach.
It also includes additional revenue for the delivery of native advertising and display advertising.
The initial campaign has been designed with a forward-looking approach, preparing the market for continued communications from the brand.
The agreement is expected to deliver revenues to engage:BDR exceeding the total of its IconicReach budgeted revenue for 2018 of $1.2 million.
Network of validators
IvyKoinTM is a decentralised network of validators, consisting of financial institutions and intermediaries.
The network uses the tokens to communicate transaction and customer data, and for settling balances.
Transactions on the IvyKoinTM network are initiated against a contract listed on the public Ethereum network.
This is done using tokens that are easily traded for their utility of facilitating payments in flat currency at their financial institutions.
It is a key differentiator from Ripple, the leading alternative to Bitcoin.
The target audience consists of businesses seeking a better way to facilitate large transactions internationally.
Investment from Change Financial Limited
IvyKoinTM has recently received a significant strategic investment from ASX-listed, USA-based Change Financial Limited (ASX:CCA) (OTCQX:CNGFF).
It has also been backed by a number of industry heavyweights including the former regional and business heads of PayPal and Westpac.