The future looks bright for blockchain martech with the technology landscape growing by 400% over the last six months, according to Never Stop Marketing’s latest report for Q2 2018.
Underpinning the growth and hype around cryptocurrencies is transaction and token technology that has real potential to impact the martech and ad tech space, and there’s already strong evidence to suggest marketers are benefiting from leveraging the technology for their businesses.
According to the report - in regards to innovations in decentralised martech - advertising in search and social increased by 500% over six months while the loyalty market grew by 150% as loyalty points, as they can be represented as cryptocurrency or tokens - as demonstrated yesterday by the launch of the Rakuten Coin by the e-commerce giant at MWC yesterday.
“We are seeing a tremendous growth rate,” said Jeremy Epstein, CEO of Never Stop Marketing; “The explosion in the crypto market is driving innovation in decentralised martech. It took over three years for digital marketing technology solutions as a whole to grow 400% from 2014 to 2017 and this market shows no signs of slowing down.”
In addition to the findings, some of the more established figures in the blockchain market received some traction over the past few months.
For instance, AdChain’s market value reached $21 million and its daily trading volume is $200,000; digital distribution platform Steem registered a top-500 spot in US traffic, making it as one of the top 1,200 most visited sites globally, while Loyyal continues to implement blockchain applications such as their work with Smart Dubai to support rewards for tourism activities and leveraging customer data and loyalty.
With innovation inspiring growth and results, can blockchain in martech help marketers deliver value and improved ROI via crypto-based models?
“We expect to see this landscape grow even more, perhaps even at a faster rate as more talent and capital flows into the space.” adds Epstein.