There’s a different kind of advertising taking place on the Bitcoin Cash (BCH) network, using an application called Memopay. The ad campaign platform employs a novel approach to advertise someone’s website, product or service by sending a small fraction of BCH to thousands of public addresses with an encoded OP_return message.
Memopay: Onchain Advertising
The internet has completely transformed the advertising business into a whole new medium and programmable money is also going to create some new methods of sharing promotional content. For instance, an application called Memopay plans to do just that with its service that offers promoted onchain advertising using the BCH network. Memopay’s website explains that advertisers can reach out to bitcoiners by introducing products and services through onchain messages. The platform uses an OP_return transaction which gives an individual or organization the ability to tether a small message to the transaction and certain block explorers can read the messages.
“Memopay delivers your ad message directly to the wallets of thousands of active Bitcoin Cash users,” explains the service.
Memopay reaches out to bitcoin cash holders by sending small fractions of dust to an active address with a message tied to the funds.
Basically, Memopay sends thousands of transactions by sending a small fraction of BCH dust to active BCH wallets. The service believes each ad message delivered along with a small amount of bitcoin cash “pays for attention.” So far the business has run about six onchain ad campaigns that have added up to a total of 88,063 ad messages delivered. A typical transaction could be like 0.00001111 BCH (1111 satoshis) and Memopay says there have been 95,623,876 satoshis distributed.