Truth Media Ltd, a subsidiary of marketing agency RYVL(NASDAQ OMX:TMG) is to launch its own ICO for a blockchain-based data marketplace.
Through the marketplace, users will be rewarded with for sharing their own private internet browsing data.
Mary Keane Dawson, chief executive and co-founder of Truth said global data use in advertising is ‘bedevilled by fraud, inaccurate data and poor targeting, making it inefficient for advertisers and annoying and intrusive for consumers’.
“Truth Data Cloud will help transform this industry into one where all participants can trade in a free market ecosystem built on blockchain.”
The Truth ICO will run until 15 November 2018 and is aiming to raise between US$5mln and US$50mln. Over US$1mln has already committed said RYVL, the new name for the Marketing Group (TMG).
Consumers can use a personalised data wallet to allow access to the Truth Data Cloud and earn TRU tokens. Contributors of data are intended to be both individuals (first party) and larger, trusted entities (second party) who have collated datasets. Advertisers can also use the tokens as payment for access. The alpha development and launch stages of Truth Data Cloud have been funded by TMG.