Coinsilium Group Limited: Byzant Web3 Social Network Makes Significant Progress and Welcomes New Partners
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Coinsilium Group Limited (COIN)
COINSILIUM GROUP LIMITED ("Coinsilium" or the "Company") Coinsilium Group Limited: Byzant Web3 Social Network Makes Significant Progress and Welcomes New Partners London, UK, 15 March 2024 - Coinsilium Group Limited (AQSE: COIN) (OTCQB: CINGF), the Web3 advisor, venture builder, and investor, is pleased to provide an update on Byzant (“Byzant”), the Web3 Social Network Ecosystem project under development in partnership with portfolio company Indorse. Byzant Web3 Social Network Background
Eddy Travia, Chief Executive of Coinsilium, commented: “We are delighted to see the progress being made in the development of the Byzant Web3 Ecosystem applications and especially with regards to the Byzant social media platform and Adbazaar, its smart-contract powered advertising network. One cannot overestimate the role advertising plays as a revenue driver in developing the Web2 social media industry. Advertising revenues have fuelled the whole industry since its early days - as an example in 2023 Facebook ad revenue reached $131.948 billion - and whilst we see Web3 as the foundation to move social networks beyond the exclusive reliance on advertising driven revenue models, we also believe that ad revenues can become a significant engine for growth in the Web3 space. With partners such as A-Ads and Linkko we are confident that Adbazaar is now well positioned to now start leveraging its first mover advantage to the benefit of the entire Byzant social network ecosystem by providing monetisation opportunities to Byzant applications, its partners and its users.” Byzant Private TestNet Coinsilium is pleased to report that the first phase of the Byzant social media application development has been achieved. A private alpha version is now running in test mode within Byzant’s ecosystem for its partners and advisors. The private test mode or TestNet application allows for testing and experimentation where transactions are settled with ‘test tokens’ without any financial risk for its users. Further updates on the progress and test outcome will be provided in future updates. Adbazaar Web3 Advertising Network and new Byzant partnerships Coinsilium is pleased to announce the inclusion of A-ADS as the latest member of the Byzant Collaboration. A-ADS is one of the largest and longest established Crypto/Bitcoin advertising networks, currently serving 191 million impressions per day, and is working with Byzant to develop Adbazaar, a smart contract-powered advertising solution within the Byzant suite of applications specifically built for Web3. The A-ADS core team members bring an unrivalled 13-year experience in crypto and bitcoin-fuelled advertising and, together with Coinsilium and Indorse, have a founding member interest in the Byzant Web3 Ecosystem. Advertising is the backbone of Web2 social media monetisation and an underdeveloped source of revenues in the Web3 social media space, and Coinsilium is therefore confident that Web3 advertising can represent a significant opportunity for early entrants in the Web3 space such as Adbazaar, especially with its backing from crypto ad network veterans such as A-ADS. Web3 advertising further enables the integration of new tools, such as on-chain analytics and programmatic advertising solutions, which can offer granular targeting for advertisers based on the assets held in the ad viewers’ digital wallet. Adbazaar is integrating Singapore-based Linkko technology to leverage its on-chain analytics feature, expanding its capability beyond the basic, ‘one-size-fits-all' banner ad-serving model currently used within Web2 applications. The Linkko solution will allow users to opt in to receive advertisements in exchange for incentives. These incentives may range from cryptocurrency rewards to access to exclusive content or discounts on products and services. By making the process voluntary, users are more likely to engage with advertisements, knowing they will receive tangible benefits in return. This opt-in model also builds trust between advertisers and the audience, as users control the ads they see and the data they share. Shareholders can expect regular progress updates on the Byzant Collaboration over the coming months. Disclosure Indorse is a Coinsilium equity portfolio company and advisory client. Coinsilium currently holds a 10.156% interest in the issued share capital of Indorse. Coinsilium also holds approximately 5.3m IND tokens representing approximately 14.12% of the current IND circulating supply. Eddy Travia is a Director of Indorse Pte. Ltd on behalf of Coinsilium, performing executive functions and Coinsilium Chairman Malcolm Palle is a non-executive director of Indorse UK Ltd, a wholly owned UK subsidiary of Indorse Pte. Ltd. The Directors of Coinsilium Group Limited take responsibility for this announcement.
Notes to Editor About Coinsilium Coinsilium is an advisor, venture builder and investor at the forefront of Web3 convergence. The Company invests in and accelerates Web3 and AI powered technology start-ups whilst supporting their development and commercialisation. Coinsilium also provides strategic advisory services to start-ups looking to issue tokens through token generation events. Coinsilium’s wholly owned subsidiary Coinsilium (Gibraltar) Limited is the Company’s operational hub in Gibraltar. Coinsilium shares are traded on the Aquis Growth Market in London, under the ticker symbol "COIN", and on the OTCQB Venture Market in the United States under the ticker symbol "CINGF".
Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
| ISIN: | VGG225641015 |
| Category Code: | MSCM |
| TIDM: | COIN |
| Sequence No.: | 309826 |
| EQS News ID: | 1859199 |
| End of Announcement | EQS News Service |
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