UPDATE: The Smoke Exchange is no more & as been rebranded to Grow Advertising. We will writing an updated article detailing what it is all about, but it is similar to the Smoke Exchange.
Part 3 of our Cannabis Cryptocurrency series features a brand new cannabis crypto, the Smoke Exchange (SMX). It is actually an extension/sister company of DopeCoin Gold. It is a self-serving advertising network that is similar to Google Adwords & Facebook advertising, but specifically for the cannabis industry that is also based off of blockchain & has it’s own cryptocurrency. It’s claim to fame is being a “revolution in advertising for the billion dollar marijuana industry”. As a digital marketplace, it will enable advertisers and publishers to buy & sell advertising space on a real-time auction based bidding platform. Their ICO (Initial Coin Offering) was set at $1.10 & recently just ended which means the team is now funded & in full development to get this project off the ground and flying high. There is a total supply of 427,204 SMX. This token should be hitting some smaller exchanges soon. People that participated in their ICO & purchased SMX tokens were awarded an additional 10% bonus. You can read their whitepaper here: Smoke Exchange White Paper Some of the Smoke Exchange platform’s features:
- First Self-Serve Exchange For Marijuana
- Operates 100% On Crypto-Currency
- Real-Time Bidding & Statistics
- Advanced Targeting
- Native Ads, Display & Pops
- Mobile & Desktop
- Proprietary Anti-Fraud Protection
- Bi-Weekly Payouts To Publishers
- Easy Conversion Pixel Setup
- Dedicated Legal Compliance Team
- Deposits/Payouts in BTC, ETH, DOPE & SMX
- Other MMJ Cryptos To Be Added Later
- 10% Bonus For Payments In DopeCoin
This is quite interesting when it comes to advertising for cannabis businesses, because even in legal states it posses a major problem when trying to market digitally. Currently, the billion-dollar marijuana industry is not allowed to advertise on any traditional platform such as Google Adwords, Facebook, Taboola, Outbrain etc. because of the potential impact it could have on their current partnerships and user base. As a result, the industry is left with basically one option and that is to go through a marketing agency who manages the campaign for them. The problem is that these traffic packages are expensive and filled with low-quality inventory simply because it provides more revenue for the middleman and the publisher. We are here to solve that problem and provide a self-serve platform that allows the user to track their conversions and statistics in real-time which will allow them to quickly optimize their campaigns for maximum profit.
Even though it is related to DopeCoin, only the Smoke Exchange Token (SMX) will be used as the cryptocurrency on the platform to buy advertising space for now. However, they say they may allow other cannabis cryptocurrencies on the platform in the future as well.
Right now the Smoke Exchange is currently in a closed beta, but soon to be released as an open beta for advertisers to start testing out. This is definitely an interesting & innovative cannabis cryptocurrency that you should track and participate in, whether buying & just hodling them or hopefully utilizing the Smoke Exchange network as an advertiser or company trying to market your marijuana company & brand.
There is also a Smoke Exchange Telegram Channel
Here is a promo video by the main developer Adam Howell showing how the advertising network’s backoffice looks & functions: