You might be able to own your own data in the metaverse, but ads will still be present thanks to a new partnership Realm has announced today with Alkimi Exchange.
Realm said it’s working with Alkimi Exchange to create a fraud-free, transparent and sustainable advertising environment within its metaverse. It said the partnership promises to be mutually beneficial for both projects, because its core values are closely aligned with Alkimi’s mission to revive the exchange of value between users, publishers and advertisers.
Realm is the creator of a unique, community-driven and cross-chain metaverse based on NFTs, that allows collectors and producers to express their artistic concepts and talent within their own virtual realm. Realm’s mobile-first, play-to-earn metaverse is popular for its big social component, where gamers and artists can design and build their own NFT metaverse spaces, incorporating whatever music, art and games they wish to include in those environments.
The idea is to provide artists and NFT collectors with the freedom to create and monetize in whatever way they see fit. So, NFT artists can showcase their works within a custom-built virtual or augmented reality experience, where visitors will be able to enjoy their vision exactly as it was designed, in its full glory.
With that in mind, Realm’s metaverse is certainly not a bad fit for Alkimi, which prides itself on the sustainable, decentralized advertising exchange it has built on Constellation’s Hypergraph technology. In Alkimi’s case, a decentralized ad exchange is one in which control and decision-making is transferred away from a centralized entity such as Google, to a distributed network. On its ad exchange, users are no longer seen as a product, publishers will not be at the behest of Google and Facebook and advertisers will be able to deliver their message with real value, Alkimi says.
The exchange relies on the principle of generative economics, where users will see fewer, better quality ads and be rewarded for viewing them. Meanwhile, advertisers will be able to reach out to more engaged audiences and publishers will regain control of the means of their success, helping them to produce more innovative and creative content.
Realm said it intends to use Alkimi’s platform to incentivize players to earn from advertisements by sharing the revenue from existing ad formats in a transparent way. It believes that advertising can be a healthy part of the metaverse, allowing branded partnerships increased leverage. However, it says participants must also have the freedom to opt-in to enjoy customized, branded content, or opt-out and maintain control over their data if they desire.
“Advertising is a fundamental part of most existing social applications, but the deal’s been pretty bad for both the person who creates the data and the advertiser who struggles to verify their spend,” explained Realm co-founder and Chief Executive Matthew Larby.
Alkimi Exchange co-founder and CEO Ben Putley noted that advertisers will inevitably look to include the metaverse in their strategies. He said that by working with Realm, Alkimi will help them to do this in a respectful, effective and transparent manner.