MetaX completes $10m crowdsale to fund transparent ad tech system
Los Angeles-based, blockchain technology company MetaX has raised $10m from its sale of one billion tokens, which reached its cap in 23 seconds. Working with ConsenSys, MetaX created adChain, a blockchain-based, programmable open protocol for the digital advertising industry. The funds will be used to pay for innovations and developments aimed at streamlining the opaque, $175bn digital advertising supply chain. "The overwhelming interest from the crypto community clearly demonstrates the recognition of the big problem we’re setting out to solve," said Ken Brook, CEO of MetaX.

MetaX, a blockchain technology company driving development and adoption of open platforms for digital advertising, completed its token sale of $10 million on June 26th.



The launch sold out in one block.

The sale reached the cap of 10 million USD in 23 seconds

A total fixed supply of 1,000,000,000 adTokens were issued

MetaX and ConsenSys jointly created adChain, a blockchain-based open protocol that's programmable to the needs of the digital advertising industry. The sale will fund further product development and innovation to help streamline the $175 billion digital advertising supply chain that’s riddled with transparency issues.

Use of proceeds will go toward the advancement of product development, general administrative duties, business development/marketing, consulting, and legal.

“The adToken launch is a culmination of more than 15 months of hard work. We’ve paid attention to meticulous details in the development of this product to ensure it caters specifically to the needs of the industry we’re serving - global digital advertising,” said Ken Brook, CEO of MetaX. “This is why we also spent nearly a year in due diligence with representatives across the ecosystem and have lined up strategic industry partners, such as the Data & Marketing Association, and others to be announced in coming weeks. The overwhelming interest from the crypto community clearly demonstrates the recognition of the big problem we’re setting out to solve.”

“I’m genuinely proud of the crypto-economic game we designed to incentivize human behavior as part of the adChain registry. Lead developer Mike Goldin truly excelled in his rigorous technical development to ensure our launch went smoothly. This next year will be filled with building out decentralized infrastructure to bring about Fortune 500 adoption to the adChain protocol,” said Mark D’Agostino, managing partner at ConsenSys Enterprise.

About adToken and adChain

adChain is an open protocol on public Ethereum that allows for the building of decentralized and ad-centric applications for the $175 billion digital advertising ecosystem. The first solution of adChain is the adChain Registry, a smart contract on the Ethereum blockchain which stores domain names accredited as non-fraudulent by ADT holders. ADT holders will access a token-weighted voting mechanism through a user interface to vote on whether a publisher domain is fraudulent or non-fraudulent. dApps (decentralized applications) utilizing the adChain protocol will enable advertisers and publishers to run campaigns that leverage the power of Ethereum, while maintaining the familiar user experience of legacy tools. These dApps will drive adoption across the thousands of advertisers, publishers and technology providers, in the digital advertising ecosystem.

Visit https://adtoken.com for details on the adToken (ADT) mechanism and to download the adChain white paper.

About MetaX

MetaX is a Los Angeles-based, blockchain technology company driving development and adoption of open platforms for digital advertising. MetaX uses adChain to power ad-centric applications that allow the digital advertising supply chain to coordinate in a scalable, trustworthy and secure way. To sign up for company updates, please visit: http://metax.io/.

About ConsenSys

ConsenSys is a venture production studio and custom software development consultancy building decentralized applications (dApps), enterprise solutions and developer tools for the Ethereum ecosystem. Powered by smart contracts and secured through encryption, our applications provide the benefits of transparency, auditability, and immutability that are unique to blockchain-based solutions. For more information please go to http://www.consensys.net.