Hangzhou, China, Nov. 29, 2022 (GLOBE NEWSWIRE) — A web3 startup has shown its ambition to harness the value of web3 advertising in China through its decentralized display network.

Viide starts in 2022 as a native web3 project for NFT visualization and interaction, quickly attracting thousands of users. Richard, the co-founder of Viide, says that Viide aims to build a “Decentralized Screen Network,” describing Viide as the web3 version of Focus Media, a company that operates the largest lifestyle media network in the Chinese cities.

According to him, Viide derives from the Latin word “vide” which means “to see”. That’s why they chose “see web3” as their slogan, which means that Viide will present web3 in front of more eyes through DeScreen.

“Watching web3 is attracting mass attention. Attention leads to publicity.” Richard says, “Advertising underpins the core value of web2. Google’s commitment to AI or Facebook’s joining the metaverse doesn’t change the fact that advertising accounts for more than 80% of their revenue.”

According to a recent Statista report, existing web2 advertising is dominated by entrenched headlines and eroded by fraud and data secrecy. More than 70% of digital advertising spend goes to Google, Facebook and Amazon. 60% of millennials have installed ad blockers to escape pop-up interruptions. The cost of gaining consumer attention has increased 8-fold in the last 2 decades. $81 billion is lost worldwide due to bots and click fraud.

“Web3 allows us to change the status quo. In that sense, Viide is designed to remove the exploitative system that has corrupted web2 and give people back control over their care through the technical innovation of web3.” The innovation Richard is referring to is the decentralized display Viide Red.

In a small room packed with investors, Richard unveils Viide products in an exclusive roadshow: the 10.1″ Viide Asio tabletop and the 22″ to 55″ wall-mount Viide Athene that completely covered every stage of NFT visualization both in public and private spaces.

He says Viide NFT display products are entering the IRL web3 space across the country and Viide is launching the OddOwl Club (OOC), a new 10,000 PFP NFT project to connect data chain and IRL users and allow users to share all benefit from Viide’s B2B operation, including advertising.

Investors include major coin miner manufacturers, art and NFT collectors, and web3 infrastructure providers. Richard shows them how to connect the wallet to the Viide screen and how to issue NFTs on multiple screens. He compares Viide to Focus Media, an unrivaled advertising network with the absolute leading market share in TV media and elevator billboards and movie screen advertising media across China.

“Focus Media created the elevated TV market from the ground up. Now, in every condo and in every office building, you see ads on your screen.” His comment is well founded. According to the recent report of the listed company with a value of 10B, the Focus network has reached about 300 cities. Among them, 2.33 million Focus-owned advertisements on buildings are available for adoption, covering some 200 Chinese cities and regions and 50 major cities in South Korea, Thailand and Indonesia. Some 44,000 elevator TV screens are available for multimedia content distribution, covering 125 Chinese cities and regions. More than 1,900 movie theaters and 13,600 movie screens in more than 280 cities. As China’s leading advertising media platform, Focus is ubiquitous in the daily lives of urban consumers.

As highlighted by a16z in their 2022 State of Crypto report, there are an estimated 750 million active Ethereum users today. That puts the current level of web3 adoption close to the level of Internet adoption in 1995. If this adoption rate continues, web3 could reach 1 billion users by 2031.

As Richard points out, this perspective has become quite inspiring in China, which has the world’s largest Internet population. Unlike Focus Media, Viide, which follows the spirit of web3, allows users to own the network, share the profits, and develop new realities of the web3 lifestyle.

“One of the best things about web3 is that people come together out of a sense of willingness and participation. More and more headlines and degens are going IRL for the vibe. You always want your Apes to be seen at a local cafe or bar, or even on Fifth Avenue in New York. And that gives us a real opportunity to promote the DeScreen network in IRL web3 spaces.”

Richard met one of the investors at an IRL event hosted by Viide and its partner space (a cryptocurrency themed bar) in Shanghai. A variety of web3 spaces are springing up in major Chinese cities: Beijing, Shanghai, Shenzhen, Hangzhou, Guangzhou and Chengdu. And not surprisingly, all these spaces are reaching out to Viide, the emerging champion of NFT displays in this country, to please their customers with top-notch NFT displays. To that end, Viide makes the deal even more enticing. The member of his own “OOC” NFT project and its associated communities are promised a number of VIP privileges in any space that has been associated with Viide.

“We took the co-mint way to prioritize holders from our partner communities to whitelist. Meanwhile, Viide trading profits and rewards from collaboration events will be contributed to the OOC prize pool and returned continuously to OOC holders. And due to the particular environment of web3, holders tend to go IRL and participate in community meetups, NFT showcases and web3 forums. OOC can be a sustainable way to boost both OOC chain operation like IRL’s. And it helps us see the bigger picture of web3 advertising.” Richard sees OOC as the link to connect the online community and real life. Some of the most active Chinese NFT projects have partnered with Viide to promote their images in the built environment.

It is true that the web3 population is nascent, but they are growing wildly. Says Richard: “Real life and face-to-face spaces have proven to be more successful than any other medium for building and growing communities on web3. Here in China, we are the closest to real web3 users. While So we’re the closest to the supply chain as well. We’re the first to get a picture of the golden fleece of web3 advertising.”

When asked about future plans, Richard says that Viide is negotiating a partnership with a metaverse creator to operate virtual billboards and is seeking a partnership with IRL web3 spaces around the world.

“Viide DeScreen not only shows NFT, but shows what web3 advertising will look like in the future. GMI (will)!” Richard says at the end, showing the larger image of Viide and his Red DeScreen.