Addressable, a startup that provides a revolutionary end-to-end solution for Web3 marketing has successfully raised $7.5 million in a venture funding round. Viola Venture and Fabric Ventures led the round, with Mensch Capital Partners and North Island Ventures also participating. Addressable plans to invest the fresh capital towards developing new features and integrating with new blockchains and social media platforms.
How Addressable is bridging the gap between blockchain addresses and consumer behaviour
Addressable’s approach overcomes the anonymity of blockchain-based wallet addresses, enabling Web3 marketers to link cryptocurrency transactions with their intended audiences. By correlating blockchain actions with social media profiles, Addressable’s SaaS offers Web3 marketing teams a robust system from which to create campaigns and more precisely target new consumers. In comparison to the broad targeting of current Web2 solutions, this precision targeting significantly lowers the cost of marketing.
By collecting information from user’ social media profiles and blockchain wallets and matching them based on similarity, the company hopes to help web3 marketers develop precise and effective ads. Its purpose is to find the link between blockchain data associated with the wallet address and social media profiles stored outside a blockchain. Targeting with such pinpoint accuracy results in a more compelling value proposition, which in turn leads to a higher return on investment and a higher rate of conversion. As a result, advertisers will have a much better foundation upon which to construct detailed profiles of their intended demographics.
The Israeli startup uses big data tools like Apache Spark to index blockchain and social media data that it has collected from many blockchains, including Ethereum and Polygon. The information is then used by Addressable to create audiences and implement machine-learning algorithms to link user profiles. In an era where traditional Web2 marketing campaigns are not as effective, leading web3 companies, including Polygon, Bancor, Immutable and Kryptomon, are already leveraging Addressable’s technology to gain new users.