With CryptoPicture, you can now buy online advertising with cryptocurrency

A new cryptocurrency startup is offering a unique form of online advertising that can be purchased exclusively with Ether.

A company called CryptoPicture has launched what they call a "billion-dollar picture." Basically, it is a large 1,000x1,000 pixel image that will be a collage of ads. Organizations, or even individuals, can buy blocks of this collage and place their logo on it, or a link to their website.

The company believes that eventually the collage will contain a broad collection of products, corporate brands and interesting individuals. The collage, the company contends, will get significant exposure on the Internet, through an assortment of prominent international platforms. They believe that each advertiser will be seen by millions of potential customers.

The pricing for this venture is also rather unique. Not only can bloocks of advertising space only be bought with Ether, but the prices of blocks will rise as the supply of them decreases. This means that prices for blocks will rise as the picture becomes filled, with those who buy ad blocks early getting the best prices.

Another interesting element to the pricing is that no advertiser can lock themselves into an ad block. At any time, someone can purchase an occupied ad block, without receiving consent from the original purchaser of the block. They can do this by paying three times the amount the original purchaser paid. 95% of the proceeds from the transaction go to the original purchaser, giving people another incentive to purchase ad blocks early in the process. The remaining 5% of the transaction goes to CryptoPicture as a transaction fee. All transactions in the process are essentially part of a smart Ethereum contract.

According to CryptoPicture, the repurchasing feature will guarantee that the collage always gets updated with new content. The feature also allows entities to easily grab the most exclusive blocks of the collage. The company believes that early purchasers of ad blocks will be cryptocurrency and blockchain-related companies and that the collage would initially be seen on sites relating to these businesses. But they also believe both will expand to the general public.