- BIGtoken is the first digital exchange of transparent and verified consumer data, providing subscribers with the ability to own and earn from their own personal data
- BIGtoken’s diverse global subscriber base is experiencing viral growth, reaching nearly 16 million users by mid-August 2019
- SRAX grew its total revenues in Q2 2019 by 53 percent as compared to Q1 2019, and it has officially changed its name as part of its new business strategy
SRAX Inc. (NASDAQ: SRAX) is a digital marketing and consumer data management and distribution technology platform company providing marketers, content owners and consumers with the tools to unlock, amplify and maximize the value of data. Through its blockchain identification graph technology, or BIGtoken platform, SRAX has designed a consumer-powered data marketplace through which people own and sell their data, providing everyone in the internet ecosystem with the ability to be compensated for and control their own data.
Consumer data is valuable not only to the individual, but also to companies seeking to harvest insights and monetize that data into new revenue models, according to a Forbes article highlighting results of PwC’s 22nd Annual Global CEO survey (http://ibn.fm/wWULi). Data is multiplying at a mind-boggling rate, the article states, which means that companies need to unlock the full value of data while also focusing on its secure and ethical use.
Through BIGtoken, consumers are finally allowed to own and monetize their own data. Consumers decide what data is shared, who can buy it and how it’s used, while advertisers reach real, responsive audiences. Consumers finally know how their data is used and advertisers gain ethically sourced, verified consumer data for targeting.
“Through BIGtoken we put data back into the hands of consumers and through our verticals are delivering verified data to brands looking for a competitive edge,” SRAX CEO and Founder Christopher Miglino stated in a news release (http://ibn.fm/0EZhQ).
In a recent study released by the Stanford Graduate School of Business, economics professors Christopher Tonetti and Charles I. Jones found that consumers wanted to preserve private data, but would elect to sell other personal data to many different firms, capitalizing on the value inherent in sharing their data (http://ibn.fm/44Z62).
To date, SRAX has nearly 16 million BIGtoken users worldwide who have opted-in to monetize their personal data. The BIGtoken platform provides consumers, marketers and developers with a comprehensive data-management solution that leads to consumer empowerment and compensation; data verification and authentication; and open-source governance and development, as a recent article explains (http://ibn.fm/50Cl4).
SRAX has made substantial technology advancements through the SRAX IR platform and BIGtoken, Miglino stated in a news release. SRAX reported a 53 percent revenue growth from Q1 2019 to Q2, for the three months ended June 30, 2019 (http://ibn.fm/NHGDF).
“BIGtoken is the leading edge of the new data economy,” Miglino added. “Our global and diverse BIGtoken subscriber base experienced viral growth in April and reached 15.9 million users as of this week. During the third quarter, we began to monetize our BIGtoken users, as we engaged with brands and several marketing agencies.”
Miglino said that SRAX is now focused on increasing scale within certain data segments in specific countries. SRAX recently signed a joint venture with the Yash Birla Group to launch BIGtoken in India. The Yash Birla Group, based in Mumbai, is one of the country’s largest conglomerates, with diversified interests in consumer and industrial products (http://ibn.fm/V5V4P).
“Through building what we predict will be one of the most valuable opt-in data sets in the world, we are well positioned to generate long-term revenue and value for shareholders,” Miglino concluded.
For more information, visit the company’s website at www.SRAX.com
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