- $59.76M Market Capitalization
DatChat Inc. (DATS.Q) announced today the planned launch of its metaverse advertising and NFT monetization platform, VenVūū. Additionally, the Company has opened pre-sale registration for its new Venūū Dynamic Content NFT on the VenVūū.io website. Here, users can find more information about VenVūū as well a live countdown related to the platform’s launch.
“Each VenVūū Dynamic NFT is a unique NFT like owning your own multi-media outlet that you own and control in ‘Your World’. Not only will this create unique opportunities for supporters of DatChat, but will also be a significant contributor to our Company’s ability to grow our top-line,” said DatChat CEO Darin Myman.
The only thing I hate more than crypto is non-fungible tokens (NFTs), yet here I am writing about them. Anything for the views, am I right? In all seriousness, now is arguably the best time to get acquainted with crypto and NFTs. I mean, the NFT market alone brought in more than $17 billion in sales in 2021, representing a 21,350% increase from $82.5 million in 2020. In particular, collectibles and gaming were the two leading categories, including NFT projects like the Bored Ape Yacht Club.
With this in mind, advertising has become a hot topic among brands looking to make a pretty penny off of the metaverse, home to all things digital such as NFTs. For example, Ally Bank, a leader in online banking, partnered with Media.Monks to bring its banking services to Animal Crossing. Yes, you read that right. In collaboration with Media.Monks, the unlikely duo furnished an in-game island with branding and minigames, whereby players could earn Bells, the game’s currency.
VenVūū Ad Platform
To be fair, Tom Nook is a stingy bastard, so a chance to earn some free Bells sounds like a sweet deal. Referring back to DatChat, VenVūū is an advertising platform that will connect metaverse landowners with brands using DatChat’s proprietary patented and patent-pending technology. This will, provide landowners with a consolidated way to monetize their holdings by opting into paid ad campaigns that brands and advertisers offer them.
On the contrary, brands will have the ability to run campaigns across the NFT advertising network, targeting the land parcels they want to reach, simultaneously across multiple metaverses. Put simply, VenVūū brings both landowners and advertisers together to make it an easy process to monetize land parcels while allowing advertisers to reach thousands of different worlds simultaneously.
For context, land in the metaverse is a plot of virtual real estate represented by an NFT, also referred to as parcels. Here, landowners can use their plots for socializing, advertising, work, gaming, and more. That being said, land in the metaverse presents an attractive opportunity for brands to advertise to a growing demographic of metaverse inhabitants. As if buying a house in real life wasn’t hard enough as it is.
In order to take advantage of DatChat’s VenVūū ad platform, brands will need to purchase the Company’s VenVūū Dynamic Content NFT. This will enable parcel owners to opt into campaigns that are being offered by advertisers. On the flip side, advertisers can also target parcel owners based on specific targeting criteria and offer their own campaigns.
Initially, campaigns will consist of video or static ads, however, DatChat anticipates the type of media formats supported will include 3D images, virtual product placements, and wearables, which are expected for late 2022. As of April 26, 2022, at 1:00 PM EST, users will be able to begin minting DatChat’s VenVūū Dynamic Content NFTs on the VenVūū website using either a crypto wallet or credit card.
DatChat’s share price opened at $2.07 today, up from a previous close of $1.66. The Company’s shares were up 85% and were trading at $3.08 as of 12:49 PM EST.