CoinMarketCap, leader in information and analytical online resource focused on cryptocurrencies and tokens, said it had added another virtual coin to the list of payment options available for the portal’s advertisers and partners. Apart from fiat, Bitcoin and Ethereum, the advertising space on the website can be purchased with the Kind Ads Token, released in circulation at the beginning of March.
While the decision to expand the range of accepted coins is understandable and probably long overdue for one of the most popular and reputable portals in cryptocurrency domain, the choice of the coin may seem a bit different than what we expected. Kind Ads Token (KIND) sits at the 1,617th place out of 1,771 cryptocurrencies with its total market value and circulating supply still unknown according to CoinMarketCap’s rating. The token was listed on HitBTC on August 3, with average daily trading volumes being limited to $6,000.
However, the CoinMarketCap’s team believes that the project and its coin have a potential. Kind Ads applies blockchain technologies to its platform to make advertising more relevant for consumers, more cost-effective for advertisers and more profitable for publishers.
Considering that CoinMarketCap is an ad-supported project, it seeks for solutions that will make the ads displayed on the webpages of the portal less intrusive and less detrimental to user experience. Its developers have explained that they are researching pros and cons of advertising-based blockchain projects in order to add them to its ecosystem.
“One of the projects that we have been paying attention to is Kind Ads. Their goal, to make the Internet more “kind” by making advertising more relevant for end users, is something that we relate to,” CoinMarketCap wrote in its blog post announcement.
While it remains to be seen whether Kind Ads project will live up to CoinMarketCaps’s expectations, the support from the popular portal may jump-start the project development and foster mass adoption of blockchain technologies.