Universal Attention Token (UAT) is a blockchain-enabled solution to benefit publishers
BUFFALO, N.Y.--(BUSINESS WIRE)-- Rand Capital Corporation (Nasdaq: RAND) (“Rand”), a venture capital company which invests in growth businesses with unique product, service or technology concepts, announced that one of its portfolio companies, SocialFlow, Inc., introduced the launch of the Universal Attention Token (UAT), a blockchain-enabled solution that will improve the way publishers are compensated for their digital content. SocialFlow is the world’s largest social distribution platform for publisher and media companies.
“For too long, digital advertising has been a terrible deal for those who create the content,” says SocialFlow CEO Jim Anderson. “The UAT ecosystem will change that by compensating publishers more fairly for the content they publish to platforms such as Facebook, Twitter, and Instagram.”
Benefits of the UAT include the following:
- PUBLISHERS: Publishers who participate in the UAT system will have more ways to monetize the content they publish to social networks, including “micro-subscription” options that in the past have not been economically feasible.
- USERS: Consumers will have a better experience on UAT publisher sites, with fewer registration barriers and paywalls, and with less intrusive advertising.
- ADVERTISERS: Advertisers will be able to participate in the system and engage users with consumer-direct ads on a cost-per-action (CPA) basis.
The Universal Attention Tokens that power the UAT ecosystem will serve as the accounting mechanism for user activity and will be built on the Stellar network. “Stellar’s decentralized blockchain platform is ideal for the scale of digital advertising,” says Anderson. “The use of blockchain will reduce fraud and provide an auditable ledger of transactions.”
SocialFlow’s scale and leadership in the market positions it uniquely to create change across the digital advertising ecosystem. SocialFlow clients generate more than 50 million social posts per year, which combined generate more than 1.1 trillion in annual reach. The UAT ecosystem will allow publishers to start monetizing traffic at a scale that matters. “We’re tired of seeing publishers do more to make less,” says Anderson. “It’s clear that the market needs a new approach to monetization that spans publishers, and offers an immediate potential for scale.”
Allen F. (“Pete”) Grum, President and Chief Executive Officer of Rand Capital, commented, “SocialFlow continues to be on the leading edge in its field, solving social media distribution and monetization for publishers. The UAT initiatives represents a value proposition for all players.”
Rand has been investing in SocialFlow since 2013. As of June 30, 2018, Rand’s investment in SocialFlow amounted to approximately $2.1 million.
SocialFlow is a social distribution & monetization platform that is purpose-built for media companies. Our technology enables the world’s most successful publishers to easily distribute engaging social content while providing them monetization opportunities across multiple social networks. Our publishing software is used by tens of thousands of journalists across the world and extends the reach and engagement of editorial content and stories to the social sphere. When you see a news item in your social feed, the odds are good that it came through SocialFlow. SocialFlow’s advertising products help publishers create new revenue streams from their social efforts. With native solutions & AttentionStream sponsored post ads, SocialFlow helps media companies leverage the unmatched scale and distribution of social channels. Founded in 2009 and based in New York City, SocialFlow’s client roster includes half of the top 150 media companies including The New York Times, CNN, Conde Nast, The Associated Press, and the BBC. To learn more, visit SocialFlow.com.
ABOUT RAND CAPITAL
Rand Capital (Nasdaq: RAND) provides investors the ability to participate in venture capital opportunities through an investment in the Company’s stock. Rand is a Business Development Company (BDC) with a wholly-owned subsidiary licensed by the U.S. Small Business Administration (SBA) as a Small Business Investment Company (SBIC). Rand focuses its equity investments in early or expansion stage companies and generally lends to more mature companies. The Company seeks investment opportunities in businesses with strong leaders who are bringing to market new or unique products, technologies or services that have a high potential for growth. Additional information can be found at the Company’s website where it regularly posts information: http://www.randcapital.com/.
Safe Harbor Statement
This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements concerning future net asset value growth, investment returns and opportunities as well as Rand’s plans for utilizing proceeds from sales of portfolio companies when and if received. These statements involve known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the results expressed or implied by such statements, including general economic and business conditions, conditions affecting the portfolio companies’ markets, competitor responses, and market acceptance of their products and services and other factors disclosed in the Corporation’s periodic reports filed with the Securities and Exchange Commission. Consequently, such forward-looking statements should be regarded as the Corporation’s current plans, estimates and beliefs. The Corporation assumes no obligation to update the forward-looking information contained in this release.
Allen F. ("Pete") Grum, 716-853-0802
President and CEO
Kei Advisors LLC
Deborah K. Pawlowski, 716-843-3908
Karen L. Howard, 716-843-3942
Source: Rand Capital Corporation
Released September 6, 2018