ATTRACE REVIEW

ATTRACE REVIEW

  • Attrace was founded mid 2017 by a group of Publishers (website owners) and Merchants that decided to solve once and for all the problems with the current Affiliate Marketing ecosystem.
  • Attrace re-invents Affiliate Marketing: The Attrace blockchain solution makes the middleman in Affiliate Marketing (the Affiliate Network) obsolete by establishing a direct connection between Merchants (companies trying to sell products or services) and Publishers (websites etc. promoting those products or services).

 

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IDEA:

  • The Attrace solution is unique as it tracks every individual click/referral/lead generated by a prospect clicking on an ad – not just de resulting sales – from an Affiliate Marketing advertisement and allocates this via a smart contract to the right Publisher.
  • The Attrace proposition applies blockchain technology to Affiliate Marketing with the aim to make the Affiliate Network obsolete by connecting Publishers and Merchants directly.

 

PROTOTYPE PRODUCT:

  • Alpha version of Attrace is already running in a test environment with large volumes of (data) transactions per second (500-2000 per sec initially).
  • The team are planning to have the Attrace Network operational from December 1st. However, the testnet functionality will be live from October 1st.

 

WHITEPAPER HIGHLIGHTS:

  • Attrace is not a fork of anything and has not been built on top of an existing blockchain like, for example, Ethereum.
  • Publishers and Merchants will not notice any changes bar the advantages of the Attrace network. The Attrace user interface will be like any existing Affiliate Network user interface and commissions paid between the two parties will still be in fiat currency (Euro/USD).
  • The current Affiliate Marketing ecosystem has significant problems that are undermining its use and effectiveness:
    • Affiliate Network fees: Currently, Affiliate Networks charge on average around 10-25% on total commissions generated; in some cases, this can even go up to 45%
    • Tracking and attribution problems: Many achieved clicks/referrals will never be allocated to the right Publisher due to imperfect software that is unable to handle all situations.
    • Fraud problems (underreporting sales): Publishers are always faced with the question if traffic/sales numbers are real or manipulated.
    • Slow and complicated payments: Currently it is standard practice for Publishers to only be paid by the Merchants weeks if not months after a sale has been closed.
    • Cookie spamming by Publishers: Some unscrupulous Publishers have used spam, false advertising, forced clicks,adware, search engine spam and other methods to engage in ‘cookie spamming’, and drive or claim traffic to their Merchants. etc.
  • The Attrace technology will use the fact that large numbers of subcontracts can be generated via the blockchain’s smart contracts. By linking a subcontract to every single individual click on the referral link on a Publisher website, each click is guaranteed to be individually tracked.
  • Attrace solves all major problems in affiliate marketing:
    • Dramatically reduced fees: The 10-25% feel level on commissions generated will be dramatically reduced to an expected range of 0-3%
    • No more tracking and attribution problems: Via the Attrace Network, each individual click/referral will have a unique ID, whether it is a sale or not does not matter,
    • No more fraud problems:  the Attrace network generates traffic/sales/conversion data, which will provide valuable reputation statistics about Merchants and Publishers.
    • No more delayed and complicated payments: The Attrace network avoids Publishers having to wait for their payments by facilitating instantaneous commission payout.
    • Enabling real value payments: The sales commission generated by Publishers should ideally be based on real value factors like time of day, geolocation, demographics, visitor behaviour or LTV.
    • No more restrictions to become a Merchant: In the Attrace network, the business prospects of a Merchant will be based purely on reputation and nothing else. 
    • No more cookie spamming by Publisher. 
  • Attrace will track every single click/lead/referral in Affiliate Marketing, regardless whether this results in a sale or not. For this they calculated that the Attrace blockchain needs to be able to run between 500 and 2000 transactions per second.
  • Attrace is the only blockchain online marketing solution that will deploy a fully new tailor made high-performance blockchain developed from scratch.
  • There are no significant adoption problems anticipated because:
    • The Attrace user interface for both the Publisher and Merchant will not materially differ from current Affiliate Network user interfaces, including API availability.
    • The actual commission payments between Merchants and Publishers will initially still be in the same fiat currency (e.g. Euro or USD).
  • Publishers pay a small fee per click/referral smart contract made. This fee is paid in ATTR (Attrace coin) to the Witnesses that create new blocks in the Attrace blockchain and ensure there is only one valid record of all transactions.
  • They anticipate a maximum fee of $1 – in ATTR (Attrace coin) – for every 1000 smart contracts.
  • When the Merchant makes a sale, the blockchain will automatically trigger the payment of the agreed commission (in fiat currency via Adyen) to the publisher. Payment reputation will be a big factor in ensuring Merchants pay amounts due quickly and fairly.
  • Every time a Merchant must pay commission to the Publisher, it pays a small fee to the Attrace network of which 20% will be used for project expense and 80% will be destroyed.
  • Since the Attrace proposition is a fully secure, trusted decentralized platform, it requires an efficient low-level language. Therefore, the initial Attrace implementation is built in Golang, as this is a reliable, fast in development speed, open source, statically typed, compiled, very testable and performant language.
  • After Attrace is live and driving volume, the network will be extended with features to deliver real-time (training) data and functionality for detecting and preventing click-fraud.
  • The smallest denomination (base unit) of ATTR is called Ace, which equals 0.000,000,000,000,000,001 ATTR; or put differently 1 ATTR = 1e18 Aces. Ace is only a superficial naming to make transaction calculations more user-friendly.

 

HYPE:

  • 27.9K+ telegram users, 499 followers on Facebook and 1K+ Twitter followers.
  • Attrace is the only project to attach a smart contract to every single click/lead/referral created at the Publisher domain, sale or no-sale.
  • They have got 167 subscribers for their YouTube Channel and 3.4K+ views for their official video.
  • 3.9 ratings on ICO bench.

 

LONG TERM:

  • The Attrace network aims to make every single click/referral an autonomous transaction that needs to be processed with the additional smart contract features as discussed at a minimal cost and all this in a short time window below 1 minute (current tests show ~15 sec).

 

Experts Review:

  • “Team is good but it needs to be improved to cover other aspects of the project as it will compete with some giant players now. I have more than 15 years working in the affiliate marketing, so I understand this sector is competitive. The concept is good as the big problem in the affiliate marketing is transparency that blockchain technology can resolve, that is a good point. However, keep in mind that building relationships and driving more affiliates as well as customers to use this is a challenge that marketing, PR and communication staff need to work harder. I don’t see the MVP, so it is hard to rate this aspect. Hope to adjust this aspect when the MVP is available.” – Tinh Tran (ICO Advisor | ICO Communications Expert)
  • “The idea is clear and transparent. In the usual market quite a lot of such projects, but you enter your cryptocurrency. I am confused by the volatility of your token, and how convenient it is for Publishers. Because on current platforms they will earn the same money without the risk of currency depreciation.” – Dmitry Pshenin (Partner crypto fund | Marketing |Blockchain entrepreneur|Fundraise capital |Influencer).

 

TOKEN METRICS:

Token ATTR
Pre – Sale 1 ATTR = $0.012 (bonus included)
Price in ICO 1 ATTR = $0.014 first 75M ATTR,
1 ATTR = $0.015 second 75M ATTR,
1 ATTR = $0.016 third 75M ATTR,
1 ATTR = $0.017 last 75M ATTR
Country Netherlands
Platform Custom (Initially Ethereum)
Website https://attrace.com/
Whitelist/KYC KYC
Restricted Areas USA, China
Pre-Sale 8th Aug – 8th Oct 2018
Public- Sale 15th Oct – 14th Dec 2018
Tokens for Sale: 500,000,000 ATTR
Soft Cap 2,000,000 USD
Hard Cap 15,000,000 USD
Total Token Supply 1,000,000,000 ATTR
Token Supply Breakdown 18% – Founders
4% – Advisors
3% – Bounty / ICO Marketing
5% – Marketing / Sales
13% – Ecosystem support / Publishers and Merchants / Strategic traffic acquisition
2% – Marketing ATTR
5% – Angel investors
20% – pre-ICO (estimate) ($5,000000 hard cap with 50% bonus)
30% – ICO ($9,698,863.64 hard cap)
Bonus Pre-Sale – 40%
Public Sale:
20% – first 62.5M ATTR
10% – second 62.5M ATTR
5% – third 62.5M ATTR

 

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