LONDON, September 20, 2018 /PRNewswire/ --
- Fenestra's blockchain-based media booking platform launches with several leading agencies and advertisers including ThreePipe and AIP
- Live launch marks the first blockchain-led product in the advertising industry in Europe
Fenestra, the independent media-buying blockchain platform, today announces its launch, now available for use by advertisers or their agencies.
Fenestra's independent advertising and media booking platform is now live and fully available in market with agencies and advertisers direct on board and transacting. The early demand Fenestra has seen is testament to the accelerating requirement by advertisers to bring greater transparency to the ad buying supply chain, currently beset by inefficiencies, hidden costs and opaque agreements. In May this year, McKinsey concluded rebates in media trading can account for up to 35% of an advertiser's budget though many studies put it much higher especially in digital.
The blockchain platform, built on HyperLedger - an open-source technology housed by the Linux Foundation - delivers a single transactional ledger creating visibility through an advertiser's entire media supply-chain and removing the monopoly of control and oversight from any one individual partner. Fenestra has brought to market, a transparent and immutable environment through which advertisers and agencies can confidently commit advertising spend. By using a more open blockchain technology, advertisers can verifiably trust and audit in real time all trading counterparties who are consequently able to focus on higher value areas. Fenestra's launch sees the first industry-wide deployment of a blockchain-enabled ad technology in Europe.
ThreePipe, one of the UK's leading independent media agencies, is among the first partner agencies to sign up to the platform. ThreePipe's client base includes some of the world's leading brands and household names including Lloyd's Pharmacy, The National Lottery and Campari. Fenestra has also secured several agency partners including leading media agencies such as AIP and Route.
Following the live launch, Farhad Koodoruth, Co-Founder of ThreePipe media agency, comments on joining the platform:
"Transparent and open relationships with our media partners are directly related to the value we create for those businesses. We are piloting Fenestra's Blockchain platform in an effort to continually ensure a secure and trusted marketplace for our Partners. We strongly believe its impact in Media could be transformational."
Sam Fenton-Elstone, CEO of media agency AIP also comments:
"We're very excited by our partnership with Fenestra, and the potential it has for improving ad trading standards. At Anything is Possible our clients see what we see. We believe transparency leads to better performance and a more efficient & effective supply chain. Fenestra's platform makes this a reality as we continue to ensure a secure and trusted marketplace for our clients."
Ashley Mackenzie, Fenestra's Founder and CEO, adds;
"Fenestra set out to solve real problems with real solutions for our clients by unleashing the novel benefits blockchain technology has to offer to enterprises. As such, we are delighted to go live with our beta platform and honoured to have partnered so quickly with several innovative clients direct and agencies. Personally, I'm particularly enthused how every part of the media supply-chain is embracing our offering."
"We are on an exciting journey, with so much to learn and achieve to create value for advertisers and their agencies, and we are looking forward to making more announcements in the future, as we continue to evolve our platform."