New online advertising network RubiQube has launched in Nigeria, offering bonuses to online users for watching video adverts.
RubiQube offers an additional monetisation route for online content platforms through the watching of a short video adverts, with co-founder Mukhtar Oyewo describing the startup as the “PayPal of advertising”.
Online content platforms can host RubiQube adverts, with users then able to watch an advert in exchange for free in-app valuables or content such as music and movies.
Oyewo told Disrupt Africa this was a winning scenario for all parties, with advertisers guaranteed highly engaged users and better conversions, and online platforms able to monetise their freemium users.
“We are extremely excited at the fact that we can make a difference and add immense value to our customers and partners. We believe this will drive innovation in the online space in Africa,” he said.
The startup is set to integrate with its first publisher – online music service Spinlet – by the end of this year and has signed a number of other partnerships with publishers.
“We realised that the biggest problem is that developers lack very effective monetisation strategies. Ninety per cent of their target users are not willing to make in-app payments and the conventional advertising services distort user experience and reduce the time users spend on their apps,” Oyewo said.
“What makes RubiQube unique among other ad networks is that it combines the experience of a payment solution with that of an advertising network, to ensure that there is a complete value exchange. Where other ad networks force users to view ads, we have put the choice in the hands of the user to opt in. We have simply democratised advertising.”
RubiQube currently only operates in Nigeria, but plans to expand operations to other African countries in the future. It operates a Cost Per Completed Video (CPCV) model, with the startup taking a cut every time a user watches a complete advert.