Softbank Leads $3 Million Funding For Advertising Blockchain Startup

According to Coindesk, Softbank China Capital (SBCVC) announced it completed a $3 million USD seed round of financing for Atlas Protocol, a San Francisco-based advertising blockchain startup. Other participants included Baidu Ventures, Danhua Capital, and Distributed Capital.

Currently, Internet advertising methods adopted by large companies such as Google first collect large amounts of user data through cookies, etc., and then advertise according to their behavior. Users often have no control over how much personal data the company collects. Atlas has positioning itself to be ahead of Google. It wants to intelligently collect data from public blockchains and use tokens to motivate users to provide personal interest data used for advertising purposes.

Users may still be concerned about the disclosure of personal data, but Atlas claims to use blockchain technology to try to eliminate these concerns. The startup promises that users will be able to control their own data and only share the information they choose to share. The Atlas Protocol also claims that the company will be completely transparent to users, in stark contrast to the “data black hole” of the industry dominated by technology giants.

Atlas Protocol was founded by former Google employees Cheng Li and Duran Liu and was incubated by the xGoogler Blockchain Alliance, positioning it as an On-Chain interactive advertising marketing agreement. According to the roadmap of the Atlas Protocol, the company hopes to launch a beta version in the third quarter of this year.