Home Finance & Investments Bidooh Launches ICO after raising $5m in pre-sale

Bidooh Launches ICO after raising $5m in pre-sale

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Abdul Alim, co-founder and CEO of Bidooh

Bidooh, a real-time, real-audience, digital billboard advertising platform, today launched the Initial Coin Offering (“ICO”) of its cryptocurrency, DOOH Token. It follows the successful raise of the $5m soft cap during the pre-sale period.

Since announcing its pre-sale on 1 October, Bidooh has secured listings for its DOOH Token on exchanges globally, signed multiple commercial contracts and continued to roll out its digital billboard platform to new territories.

Bidooh’s blockchain-based platform is fully GDPR-compliant and uses anonymised facial analysis to produce targeted adverts in real-time. For the advertiser, this means that unattributable audience data is immediately time-stamped and recorded on the blockchain, enhancing trust and transparency. For the consumer who chooses to directly engage with the adverts, and gives their consent via Bidooh’s app, they will be rewarded with DOOH Tokens, which can be held, traded for advertising space or redeemed at participating retailers and restaurants.

Abdul Alim, co-founder and CEO, commented: “We have been delighted by the interest in Bidooh since the launch of our token pre-sale. It shows the widespread support for our vision of revolutionising real-time digital billboard advertising and the benefits of modelling our platform around blockchain technology both for the advertiser and the consumer. Our DOOH Token has secured the support of some of the world’s largest digital exchanges and we continue to make solid progress on signing commercial contracts to roll out Bidooh’s platform across a global network of screens.

“We thank those who took part in the pre-sale and welcome all new participants in the ICO which is launched as per our original schedule. The DOOH utility token has been specifically designed to offer discounted advertising space on the Bidooh Platform and allow holders to benefit as the tokens rise in value.”

Overview of key achievements during pre-sale

Financial
• $5m soft cap comfortably exceeded with momentum sustained into public sale

Commercial – Exchanges
• OKEx, one of the world’s largest digital asset exchanges, endorsed Bidooh by promoting the Group to prospective token purchasers, displaying its own advertisements on the platform and participating in the DOOH Token Sale
• DOOH Token was fast-tracked to the listing process on Huobi’s global HADAX exchange, reaching number two on the exchange’s popular projects page with over 150 pro votes
• Coinrail, a leading cryptocurrency exchange based in South Korea, will be listing the DOOH Token after making a significant token purchase and is now conducting an Initial Exchange Offering (“IEO”) allowing its traders to participate in the token sale directly from within the exchange
Commercial – Contracts
• Balkans Contract signed with Darko Ban of Bidooh Media SRO, a partner operator in the Czech Republic, to roll out 2,000 screens over a two-to-three-year period across the Czech Republic, Bosnia and Herzegovina, Croatia and Slovakia
• Romania Contract signed with Mihai Bulugea of Bidooh Romania, a partner operator in Romania, to roll out 1,000 screens over a three-year period across Romania

Operational
• UK Test Network continued to operate successfully, with the Bidooh Platform running on 16 screens across five different locations in the UK and more than 900 advertisers now signed up
• Signed a Memorandum of Understanding (“MoU”) with FLETA, a blockchain platform designed to resolve problems with existing blockchains, such as scalability, size or decentralisation. This significant partnership is the start of ensuring the Bidooh blockchain solution is built on a sustainable digital ledger technology for speed, cost and security
• Signed an MoU with MOPAS, a leading Korean blockchain security firm, to manage the security of the Bidooh Platform globally