Incorporating blockchain in affiliate marketing paves the way for a seamless affiliate process in a transparent, merchant & advertiser-centric ecosystem.
Affiliate marketing continues to be part of the overall marketing strategies used by companies, predominantly by those operating online like traditional and decentralized casinos, poker rooms, and sportsbooks.
The lower marketing expenses and acceptable revenue increase are primary reasons many iGaming companies still regard affiliate marketing as an essential tool. It is in line with this understanding that third-party providers or affiliate networks, which demand high fees, dominate the industry.
This set-up, however, gradually changes as blockchain enters the scene and modernizes the traditional process of affiliate marketing. Through a blockchain affiliate network, companies can expect a more seamless, affordable, and transparent affiliate process.
How Blockchain Affiliate Marketing Benefits the iGaming Sector
There are several reasons why a decentralized affiliate network is preferred:
1) Transparent — The entire affiliate process is transparent on blockchain, and this means companies can save themselves from any questionable acts performed by affiliate networks in the traditional set-up.
2) Trustless — Given the transparency, advertisers and companies can operate in a trustless environment, thanks to smart contracts.
3) Direct and Cost-Effective — The use of blockchain affiliate networks remove the need for a third-party service provider. This ensures direct transactions between advertisers and companies, as well as lower fees.
4) Faster Transactions– Without a middleman, payments and operations are processed much faster.
The rise of blockchain affiliate marketing provides a solution that will overcome the challenges in the affiliate process, especially in online gaming marketing.
Explore Today’s Decentralized Affiliate Networks
With blockchain technology already in place, there are those who have taken the first steps toward establishing an innovative decentralized performance marketing platform. Here are some blockchain affiliate marketing networks companies can use:
Attrace utilizes blockchain technology to ATtribute and TRACE “every individual click in affiliate marketing.”
We are very pleased to announce that yesterday Attrace has accomplished the first transaction on testnet!
Additionally, we added direct private channels between end-users.
Look forward to a video and testnet access in the next few weeks!
Info on our blog https://t.co/2RNXyF7ngF pic.twitter.com/yOgJIRz7rF
— AttraceNetwork (@AttraceNetwork) March 21, 2019
It maximizes blockchain’s capabilities by ensuring the following;
- lower fees compared to traditional affiliate networks
- transparent and direct process between publishers and advertisers
- sealed terms of affiliate sales agreement on smart contracts
Attrace runs on the Ethereum blockchain and stores there the deals between merchants and publishers, and then connecting smart contracts to each individual referee. It also has plans to introduce the option for individuals to earn revenue in fiat.
On top of the benefits a smart contract affiliation brings to the table, RefToken allows merchants and advertisers to track the value of the sale or conversion.
This decentralized affiliate platform allows brands to audit and identify fraudulent affiliates. RefToken also promises affiliates that all commission payments will be issued instantly and automatically on the platforms. This, therefore, removes cash-flow issues.
Blockverse developed a platform through which publishers and advertisers can directly communicate and conduct affiliate business.
Did you know that with #Blockverse you can negotiate deals within the platform directly with your partners?
Create your ideal deals, share it to the network and get it active within seconds!#blockchain #igaming #affiliatemarketing #innovation #startups pic.twitter.com/TJctpWYSh2
— Blockverse (@theBlockverse) April 8, 2019
This decentralized performance marketing platform takes pride in highly accurate and auditable data in real-time. All parameters on the platform are fully customizable. They can be sorted by players, banners, and geo-location.
With some companies already pioneering in establishing blockchain affiliate marketing, it will not be long for blockchain to spearhead the rise of decentralized affiliate networks and smart contract affiliation.
CoinPoint Group, which pierces through to the vanguard of blockchain affiliate marketing networks along with iGaming, trading, social networks, and ecommerce, brings an added value by allying with a number of blockchain affiliates and offers unrivaled marketing prowess.
Lisa Stainfield, Head of AffPapa.com, shared with BestBitcoinCasino.com:
“The problem lies in the fact that people didn’t get used to operations with cryptos yet and it is not about affiliate or iGaming industry but in the generic world. You can’t keep your funds only in BTC and go out with confidence that you will be able to cover all your expenses with that wallet unlike credit cards. However, I really do hope that we will witness how crypto becomes regulated and only after that there will be a chance for it to become mainstream.”
Meanwhile, although crypto and blockchain affiliation is not yet in their books, Mr. Clive Hawkswood, Chairman of Responsible Affiliates in Gambling, told BestBitcoinCasino.com that first on their agenda is “to reduce the marketing material that is sent to self-excluded customers and working with some specialist charities to establish social responsibility training programmes for the affiliate sector.”