SRAX Forms JV to Launch BIGtoken Platform in India

US marketing and data tech company SRAX has signed a joint venture agreement with Mumbai-based professional service and workforce outsourcing provider Melstar Information Technologies, through which SRAX will launch its BIGtoken consumer data platform in India.

SRAX's machine-learning technology analyzes marketing data to identify brands and content owners' core consumers and their characteristics across marketing channels. Its blockchain ID graph technology platform BIGtoken provides a data marketplace through which consumers can own, verify and sell access to their data. The platform rewards consumers for participating in the sale of their digital data, which is sold to advertisers.

In May, SRAX received a $1m investment from an unnamed source, to launch BIGtoken across Asia. According to the company, India has a digital population of 627 million and the country's digital ad market at $3.5bn is set to grow annually at a rate of 32%. 'BIGtoken data will be an essential part of this growth, providing the most valuable opted-in consumer data set in India', according to a statement.

Melstar, which is part of industrial conglomerate Yash Birla Group, provides outsourcing services for a variety of sectors. SRAX's CEO and founder Christopher Miglino (pictured) adds: 'The Yash Birla Group brings to our partnership all the assets that are needed to quickly monetize and grow the value of our BIGtoken data in India. Our geographical expansion furthers our mission to become the undisputed platform offering everyone in the world choice, transparency, and compensation for their data, while building the world's most valuable opted-in data set'.

Web site: www.srax.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.