Cryptocurrency company seeks to expand its crypto-focused business by building a $300M digital advertising agency
Crypto-currencies and blockchain have been used in many different industries over the past few years, and now the company behind the world’s first cryptocurrency-based advertising agency is seeking to add the technology to its digital advertising business.
According to the firm, Digital Currency Group, which is based in Washington, D.C., and headquartered in Santa Monica, Calif., is looking to expand into digital advertising with a focus on social media, mobile, gaming and other digital platforms.
While the digital advertising market has grown exponentially over the years, its growth has been limited by the fact that advertising agencies often use digital platforms to build their digital presence and monetize their audience.
“We have seen a lot of growth in the space in recent years, but this is an opportunity to get more into that space,” says Jeff Rifkin, Digital currency business lead at Digital Currency.
“Our client base is primarily from the U.S., and we believe that the new advertising space will be a much more lucrative space than the old one.
We’re looking to build an advertising agency that can do more than just create content.”
Rifkin says the company plans to begin accepting cryptocurrency payments in 2018, with an initial focus on traditional payments like PayPal and Visa.
The company plans on expanding its digital offerings over time, though Rifkins says that its focus right now is solely on social and mobile advertising.
According the company’s website, the company is seeking “talent for both the front and back end of our digital advertising team” and is looking for an “up to three person team to work on the digital media side.”
It notes that the team will work to “make our digital campaigns even better” and hopes to hire people with a “deep understanding of social media.”
The company is looking forward to working with “an experienced team of digital advertising professionals to help drive digital advertising revenue, build our business and create new digital opportunities for our clients.”
The firm’s announcement follows the publication of an infographic highlighting digital advertising trends in 2018 that includes the fact, “The fastest-growing market for digital advertising is the U-verse-branded ad network.”
The infographic also notes that digital advertising grew at an annual rate of 12.5 percent in 2018.