Stremio Selects WINGS DAO Management Platform for AdEx Crowdfunding Campaign

WINGS Foundation is a Swiss blockchain company that helps companies use Bitcoin and other blockchain technologies to finance projects. Stremio is a company that uses peer-to-peer networks and video technologies to develop innovative video solutions. The company launched the AdEx project and used the WINGS platform for crowdfunding. Based on blockchain technology, it created a niche market for online media. This is the first project of the WINGS decentralized autonomous organization community, and AdEx tokens will be crowdfunded on the platform in early 2017.

Translation: Annie Xu

WINGS, a decentralized platform that uses blockchain and smart contracts to create, participate in, manage and finance projects, announced that Stremio, a user-friendly audiovisual entertainment software design and development company, has chosen to work with the company to crowdfund the AdEx project. AdEx will provide a unique value proposition for a fully transparent advertising market, which can for the first time audit the fairness of the advertising bidding process, optimize the bidding method, and provide some services that professional systems cannot provide.

WINGS combines decentralized decision-making and uses the prediction market to exclude low-quality projects and conduct risk assessments on projects and project implementation. The service is pushed to smartphone users through instant messaging systems. The project uses WINGS' new coordination technology, combined with blockchain and smart contracts, called a decentralized autonomous organization (DAO). The WINGS project will be selected by the global community before entering the crowdfunding stage. All project funds obtained are stored in smart contracts, and participants can participate in project management.

Ivo Georgiev

Stremio CEO Ivo Georgiev said:

“We are very happy that Stremio’s crowdfunding project will use WINGS. We really need the platform’s support for Bitcoin and RSK smart contracts. Stremio will provide a decentralized advertising network AdEx. It will achieve unprecedented trust and transparency and become an alternative to the existing advertising ecosystem.”

Stremio understands the potential to go beyond the existing private advertising market and create a multi-billion dollar online media niche; therefore, it decided to investigate the possibility of building an advertising marketplace on the Bitcoin blockchain.

Stas Oskin, core developer of WINGS, said, “We are very happy that Stremio’s AdEx can be the first project of the WINGS decentralized autonomous organization community for the community to understand, evaluate and invest in. Just like Stremio, we believe that blockchain technology can provide unique advantages that traditional business models do not have, providing transparent, optimized and open services to market participants.”

The public blockchain is very suitable for this project, as advertisers and publishers do not need to trust each other. A decentralized advertising market can be realized using smart contracts, and the latest micro-transaction technology can also achieve an efficient bidding process.

Realizing that the operation and promotion of AdEx requires the participation of the global community, Stremio decided to provide opportunities to participate in the AdEx project. The economic activities of the advertising market will be reflected in the form of AdEx tokens. Advertisers and publishers can use tokens to bid and exchange value between fiat currency and advertising projects.

Currently, WINGS Foundation has raised 1,500 bitcoins.

AdEx plans to start crowdfunding in early 2017.