AEToken (AET) ICO Review – ICO Token News
Overview of Affiliate Escrow Token
Affiliate marketing is broken. Far too many deals are done without a written contract and due to their diverse geographical location, even a written contract is essentially unenforceable. Payouts are difficult to manage and difficult to track. Withdrawing or spending those funds is even harder. The solution is a decentralized blockchain designed to create trust through reputability and create a payment method e-commerce publishers and affiliate marketers can easily send and receive throughout the affiliate infrastructure. The network will utilize Bulletproofs1 to support confidentiality of business terms for affiliate payouts. Third party escrow services will be enabled to create a more trusted business environment for publishers and affiliates that will enable easier adoption of contracting and recourse.
The Affiliate Economy Token will be a side chain to a widely adopted and scalable blockchain like Bitcoin, Ethereum, Chia or Stellar. The ICO countdown of many tokens is already begun. The AET will be atomically swappable for Bitcoin, Ethereum and other major cryptocurrencies. Affiliate marketing accounted for 16% of US e-commerce orders in 2015. In the US alone, Forrester reports that affiliate marketing accounts for 7.5% of total digital spend among retailers and publishers. Digital affiliate spending will total $5.3 billion in 2017 and account for roughly 7% of total digital ad spend in the US. Total US affiliate spending is expected to be $6.82 billion by 2020. Total affiliate marketing spending in the UK was £ 1.39 billion in 2016 which was a 12% year over year increase.4 We believe it is safe to assume the global market is significantly larger.
The Affiliate Economy on a Blockchain
Today content publishers and e-commerce companies recruit affiliates with the ability to drive significant traffic and actions, with promises of rewards and participation in the future economic value of the leads generated by that traffic. Affiliates are skeptical at times because history is rife with publishers changing the “deal” after the customers have been acquired or the goods have been sold. At best the contract in place is a click-wrap6 agreement that the affiliate agreed to – which is totally fungible and changeable by the publisher after the fact. Often the agreement was reached over the phone or across a chat platform. Conflicts are nearly inevitable. Further, recourse is elusive. Many of the agreements are between one offshore corporation in e.g. the Caribbean with another offshore entity in Asia.
The realistic opportunity to litigate and then enforce a judgment in this extraterritorial environment is virtually impossible to even for seven-figure plus sums of value. By providing an industry-specific blockchain which supports robust escrow capabilities and easy smart contracting focused on the final payment terms, affiliates and publishers can have a trusted environment to strike a business deal using the tools and communications methods they use today while then generating on chain smart contracts that enforce the final payment terms and a real chance to have a neutral third party arbitrate material disputes.
AEToken will develop a sidechain to one of the major blockchains to support escrow and smart contract driven payment terms to enforce affiliate marketing offline contracts and record historical reputation. The company plans to develop both open source blockchain management software as well as end user client software for the major desktop and mobile platforms to make the process of creating a smart contract based escrow agreement easy and to enable optional fast additional authentication mechanisms like OpenTimestamps and the ability to share a signed and time-stamped copy of business terms as a document or screenshot. These extra steps will significantly reduce the burden of presenting evidence in a case where a dispute arises. ICO ratings are also very important for the investors to check the current stats about ICOs.
The initial token will be and ERC223/ERC20 token on Ethereum called AEC. AEC token will be redeemed 1:1 for the AET token on the publicly launched blockchain. We plan to raise a maximum of $50 million and a minimum of $25 million.
40 million tokens will be allocated to existing investors and the team. 40 million tokens will be held by the company on its balance sheet for future fundraising to support the ongoing development of AEToken through both compensating employees with tokens and selling tokens to raise additional funds to support development. 20 million tokens will be subject to a 3-year lock-up agreement while the remaining 20 million tokens will be subject to a one-year lock-up agreement.
40 million tokens will be sold to purchasers in the pre-ICO round and the ICO depending on discounting for early participation. These tokens will be freely tradeable. Once the ICO is complete, the total number of outstanding tokens will be 120 million tokens. No more tokens will be created once the ICO is complete.
Seems that AEToken is providing lightweight contract solution to affiliate industry with a payment system attached within. The mediation process seems fresh idea to solve any disputes that may arise and that is one of their key solutions among the actual contracts. The AEToken team has clearly years of experience from the industry and the problems it faces. To find the best solution they have the right team to handle this project. All team members seem to have solid business success previously and few of them have been at crypto publications, speaker at TED Talk and even Forbes magazine back in the days. Waiting to hear more news about their project and future plans.
- Vadim FedotovVadim Fedotov - CEO - has spend the past 11 years in the online digital marketing and retail
sectors. Starting off his career with Highlight Media Group which is one of the world’s leading
SEO based affiliate conglomerates, he led a team of SEO specialist to spearhead the
company's casino and poker directed websites to the top of the search engine rankings. From
there he went on to heading the business operational side of the Betsafe Sportsbook product for
the publicly traded Betsson Group AB, achieving all time highs in active players and revenue by
introducing innovative, intricate marketing campaigns which not only driven acquisition but
resulted in excellent retention/reactivation numbers for the active user base. Successfully
launched Eypobet casino and Sportsbook from the ground up, as a founding consultant Vadim
knows every single possible outcome of running a publishing operation, down to the licensing
and regulation factors.
- Jason FernandesJason Fernandes- COO - An award-winning crypto-entrepreneur, technology columnist,
published author and TEDx speaker. A professional career beginning at the age of 14 and
spanning two decades, Jason founded internet portal ZeoCities.com and non-profit LDKids. He
was also a founding team member at RecordTV.com where he holds an international patent for
the world’s first internet-based DVR; and PerceptiveI, A company that developed patented
ECRM software for Fortune 500 Clients. A Technology Columnist with Indonesia’s GlobeAsia
Magazine for over 5 years, his writings have appeared in The Jakarta Globe, CHIP, DNA India,
The Leela, The Goan and MansWorld Magazine, among others.
- Gene HoffmanGene Hoffman - Chairman and interim CTO - The youngest NASDAQ CEO in history, Gene
is a vital part of the AEToken team, controlling all development and technical aspects of the
project. He holds a patent for his work with HTTP stream interception technology and coinventing
internet ad blocking. From January 1998 to June 2002, Gene was co-founder,
President, Chief Executive Officer, and a Director of EMusic. A highly visible advocate for the
distribution of music on the Internet, he was featured on the cover of Forbes Magazine as a
member of the July 1999 E-Gang. Hoffman led the acquisition of EMusic by Vivendi-Universal in
June 2001.Prior to EMusic, Hoffman was Director of Business Development and Director of
Interactive Marketing of Pretty Good Privacy. Hoffman joined Pretty Good Privacy after it
acquired PrivNet, Inc., an Internet privacy software company, he co-founded, and was Director,
and Executive Vice President.
- Valtteri SerimaaValtteri Serimaa - Founding Partner - Valtteri Serimaa came into the digital marketing and
affiliate space as the founder and CEO of Raccoon Media Ltd. The company is a full-service
digital media agency specialising in driving quality leads in high volumes for various verticals
while figuring out the key to reaching the desired audience both nationally and globally. Over 5
years of operation, Valtteri developed Raccoon Media not only into a B2C juggernaut in their
main sectors of operation such as binary, online gaming and dating, but have also expanded
into providing B2B solutions such as content production, translations and consulting for the
same publishers he drives valuable traffic for.
- Jami SöderströmJami Söderström- Founding partner - An entrepreneur for half a decade, Jami has spent 4
years blazing trails in the affiliate marketing industry. A founding partner at marketing
companies Triplex Trading Ou and Digital Assets Ou, he has grown those businesses from
small regional outfits to the behemoths they are today. In the process, he has gleaned a
thorough insight into the range of problems plaguing the affiliate marketing industry and has
deep insight on solutions needed to revolutionize the industry and build trust between publishers
and affiliates. On the road to becoming a force to reckon with in the affiliate industry, he has
learnt through experience how power structures between the publisher and advertiser can
change and how to mitigate the negative aspects of these power fluctuations.
- 1Q3 2018
Recruit additional team members. Flush out architecture documentation.
- 2Q4 2018
Conduct initial scalability testing against existing blockchains.
- 3Q1 2019
AEToken Launch. Launch alpha testnet. Initial mediator recruiting efforts.
- 4Q2 2019
Launch beta testnet. Beta desktop clients.
- 5Q3 2019
Launch production blockchain. Production desktop clients.
- 6Q4 2019
Production mobile applications.
- 71H 2020
Expand supported smart contract types and data sources.
- 82H 2020