THE MARKETING GROUP PLC: TRUTH LAUNCHES ICO PRE-SALE FOR BLOCKCHAIN-BASED DATA MARKETPLACE
Truth Media Ltd (“Truth”) a subsidiary of The Marketing Group plc, (“TMG” or the “Company”), which trades as RYVL, announces the launch of an Initial Coin Offering (“ICO”) for Truth Data Cloud, its blockchain-based data marketplace which will let consumers be rewarded for sharing their own private internet browsing data.
The Truth ICO will run until 15 November 2018 or when the maximum targeted amount has been raised and it is targeted to raise between US$5 million and US$50 million. Initial commitments of over US$1 million have already been received.
Truth Data Cloud is a blockchain-based platform and data marketplace that will enable consumers to control the storage of, and trade in, their personal online browsing and buying intention data through their personalised data wallet.
Truth Data Cloud will openly reward consumers for transparent, permission-based use of their personal data by advertisers. In return for access to their personal data, consumers will receive TRU Tokens. TRU Tokens will be used for a number of different purposes on the platform, including as payment for access to data and as collateral for users who wish to operate nodes on the distributed network.
The alpha development and launch stages of Truth Data Cloud have been funded by TMG. The aim of the ICO is to fund the full consumer launch of Truth Data Cloud, focusing initially on the data management platform alongside building consumer applications and tools for data collection.
Contributors of data are intended to be both individuals (first party) and larger, trusted entities (second party) who have collated datasets. The more TRU Tokens are owned, the greater the reward amount of TRU Tokens when a user’s data is accessed.
Commenting, Mary Keane Dawson, CEO and co-founder of Truth said: ”The global data economy is worth a staggering US$42 billion today and is forecast to grow to US$106 billion by 2027. However, its use in advertising is bedeviled by fraud, inaccurate data and poor targeting, making it inefficient for advertisers and annoying and intrusive for consumers. Truth Data Cloud will help transform this industry into one where all participants can trade in a free market ecosystem built on blockchain, providing fairness and transparency for consumers and advertisers.”
To learn more, visit https://truth.tech/
Participation in the ICO is subject to terms and conditions which are published on that site.
Media
Lydia Oakes
Phone: +44 (0)7710 244573
Email: lydia@bluestripemedia.co.uk
Investor Relations
Tim Metcalfe
Miles Nolan
Phone: +44 (0) 203 934 6630
Email: investorrelations@ryvl.com
This information is information that The Marketing Group plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 7.00am CET on 16 July 2018.
What is an ICO?
ICO is the abbreviation for Initial Coin Offering. It means that a venture offers a blockchain-based token in exchange for cryptocurrency or hard currency (fiat money). Since 2013, ICOs have been used to fund the development of new blockchain-related projects.
The tokens are then primarily used on the platform for various different use cases, one of which is to kickstart a new economy or ecosystem. The TRU Token will be the utility token that powers the Truth Data Cloud.
About Truth Data Cloud
Truth Data Cloud is being developed by Truth, a global media planning and buying service, with offices in London, San Francisco, Singapore and Sydney.
Truth Data Cloud is a blockchain-based data marketplace which will let consumers be rewarded for sharing their own private internet browsing data.
Truth Data Cloud will have open APIs and SDKs to encourage third party applications to integrate with the marketplace. It is envisaged that this will create huge potential for the platform’s uses, such as influencer marketing, loyalty programs and customer relationship marketing.
About TRU Tokens
TRU Tokens will be created and sold on an “as is” and “under development” basis. Future use of TRU Tokens will depend on the development of the Truth Data Cloud, the description of which above is a statement of Truth’s current intention and may change or not be achieved.
TRU Tokens are not classified or treated as currency, debentures, stocks or shares, rights under a contract for differences or under any other contract the purpose or pretended purpose of which is to secure a profit or avoid a loss, units in a collective investment scheme, or any other regulated investment or security. No regulatory authority has examined or approved the information set out above or elsewhere in respect of TRU Tokens or the Truth Data Cloud.
About RYVL
RYVL is the operating name of The Marketing Group Plc. (https://ryvl.com/)
RYVL is a global network of coplementary marketing businesses. It is building a lean and technology centric approach to providing a global marketing solution, fit for the needs of modern brands.
The Marketing Group Plc (Ticker: TMG.ST) is listed on Nasdaq First North, Stockholm www.RYVL.com.
Mangold Fondkommission AB, +46 8-5030 15 50, is the Company’s Certified Adviser and liquidity provider.
Tags:
