SaTT is a blockchain company that recently raised $7 million in an ICO, so The Cryptonomist decided to interview CEO Gauthier Bros to find out more about the project and how token halls may still be able to offer something.
Can you explain the project to us?
Sure, we’re a blockchain-based smart advertising solution, designed to address the challenges facing the advertising industry, such as lack of transparency in the supply chain, late payments and more.
SaTT stands for Smart Advertising Transaction Token and is a token utility that allows advertisers to purchase smart advertising services on the dApp SaTT based on Ethereum. All transactions between advertisers and influencers/publishers are governed by SaTT’s smart contract, which automatically ensures speed, transparency, security and cost efficiency.
Blockchain oracles are implemented by the SaTT dApp to retrieve data from social media platform APIs such as YouTube, Facebook, Twitter, Instagram, etc. Actions such as LIKE, SHARES, SHARES, VIEWS, TWEETs etc. can then be examined to help quantify ROI, which is very important for advertisers and marketers.
When all criteria agreed between the advertiser and the influencer/publisher are successfully met, payments are automatically activated from the advertiser’s preloaded budget to the influencer/publisher’s wallet. As you can see, the smart advertising system SaTT has been designed to be fast, tamper-proof, secure and cost-effective, a perfect case of using the Ethereum smart contract.
What is ready on the platform? What can a marketer/influencer do?
Our MVP is already online allows:
Advertisers/ marketers can place their advertising campaign on the SaTT platform and enter the number of tokens available for their campaign. They can allocate tokens according to the social media platforms on which they wish to be promoted. For example, they can allocate a certain number of tokens to YouTube, Twitter, LinkedIn and/or Facebook. Advertisers/marketers can also reward influencers who have participated in their campaigns based on the performance of their posts.
For influencers (or micro-influencers), they can already participate in campaigns by posting on social networks and be remunerated according to the performance of their posts.
There will be more functionality and more different types of media platforms as we continue to improve and update SaTT’s smart advertising solution.
Why did you decide to have your own token?
I believe that tokenizing projects was really a revolutionary way to raise funds. With tokenisation, investment opportunities are democratised and virtually anyone who wants to be a supporter and thus benefit as the project takes off is given access to them.
This is a great advantage for projects that raise funds for development compared to IPOs with strict requirements. Small and medium sized projects would never launch if IPOs were the only way to make a public sale. The same is true for investors; tokenisation allows smaller investors to be part of something they believe can succeed.
Owning tokens also gives the project a tool to implement different programs and reward systems within the project ecosystem. I think the important thing is that the crypto revolt continues to improve and develop, because this will ultimately increase the value of the token and benefit all those who have supported it.
What is the difference with other marketing projects like aqilliZ, Brave or traditional aggregators like Addragon and Coinzilla?
From what I know, aqilliZ is also a working smart advertising solution, but they are built on the Zilliqa blockchain (we are on Ethereum) and claim to work with FoodPanda. Brave is a web browser where content creators and attention are valued, rewarding users with Basic Attention Token (BAT). Addragon is more concerned with media buying and advertising, such as banners and advertisements. Coinzilla allows you to purchase press releases and sponsored items.
Of all the platforms you mentioned, aqilliZ seems the most similar to us. The rest are various advertising solutions that focus on different areas of advertising. I’m not very familiar with aqilliZ because they didn’t explain their platform well, so I can’t comment because I don’t have the details on how it works.
You have raised 7 million euros in an ICO. Do you still think that ICOs are a good way to raise funds? Why do you think yours has been a success at a time when tons of other ICOs are failing?
I think the fact that we have focused a lot on having a working platform is one of the main reasons why investors decided to support the SaTT project.
In the midst of the ICO hype at the end of 2017 and in part 2018, many projects were blockchain solutions, but most of them failed to deliver a working product and that was why those projects and tokens went out of business. This led investors in general to be very suspicious of blockchain projects because the hype alone cannot sustain the continued success of a project.
Our core team is from Atayen, Inc. and we’ve already provided technology solutions such as our Facebook pages for business applications, so we understand what it takes to provide these kinds of solutions. It’s no small thing, and the amount of RnD, trial and error that a project is willing to endure is proof of how committed the team is to the project.
All these factors have contributed to the success of our fundraising. SaTT is a project that is committed to implementation and we are not interested in being a straw fire. We want to be a solution widely adopted by our industry.
Since Ethereum is becoming very expensive in terms of gas expenses, why did you decide to use this blockchain and how will you solve the problem of fees?
Ethereum is a leader in smart contract protocols considering the huge number of projects that have adopted it. As far as users and developers are concerned, there is no alternative at the moment, so we have chosen to use the Ethereum blockchain.
At the moment, we have created the SaTTv token as a centralised version of the SaTT token for limited use on the platform and without having to pay fees. However, if a more stable, efficient and economical version arrives and the gas charges on Ethereum continue in this way or become even more expensive, then yes, we might consider switching to such a blockchain.
Which oracles do you use?
Currently, our blockchain oracles work with YouTube, Facebook, Twitter and Instagram, some of the most popular media platforms. However, we will develop other oracles to work with other popular platforms. In fact, one for TikTok is already under development at the moment – yes, you heard it here first!