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AdEx

AdEx is a web3-focused DSP with blockchain settlement and adjacent crypto AI tools.

Analyst Perspective

AdEx is an Estonian company best known for operating a self-serve programmatic advertising platform for Web3 advertisers. Its core product functions as a demand-side platform that lets blockchain and crypto brands buy digital media inventory via real-time bidding, while using blockchain-based settlement and on-chain verification to support transparent delivery, payment automation, and fraud control. Revenue appears to come primarily from a take-rate on advertising spend, with lower fees when paid in the ADX token. Beyond advertising, the company has expanded into crypto-facing AI and DeFi utility products including AURA, heyAura, and FARM AURA. These products target wallet users and token holders rather than enterprise media buyers, suggesting AdEx is no longer a pure-play adtech vendor. As a result, the business sits between B2B Web3 adtech infrastructure and consumer crypto software, with the DSP remaining the clearest commercial core.

Analyst Signal Briefing

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Category Differentiation

This is not a general ad exchange or the broader programmatic category sometimes abbreviated as AdX. It is an Estonian Web3-focused adtech company whose core product is a DSP, with additional crypto AI utility products.

AdEx: About

AdEx creates value by giving Web3 advertisers self-serve access to programmatic media buying while differentiating through blockchain-based verification and payment settlement. The company monetises media demand flowing through its DSP by taking a percentage of campaign spend, and it reinforces ecosystem participation through ADX token incentives, token-based fee discounts, staking mechanics, and premium access features in adjacent consumer products.

How AdEx Works & Monetises

Business model analysis and core revenue streams

The main monetisation model is a percentage take-rate on advertising spend flowing through the DSP, with campaign minimums and lower effective fees when customers pay in ADX tokens. Additional monetisation and ecosystem capture come from token-linked mechanics such as fee discounts, staking and farming participation, and premium feature gating in the AURA and heyAura products. This creates a blended model of media take-rate plus token-enabled software access and ecosystem incentives.

Revenue Channels

DSP campaign feesPercentage take-rate on advertising spend
Token-based fee discounts and settlementEcosystem-linked pricing and payment mechanics
Premium AI assistant accessToken-gated software features
Staking and farming ecosystem activityToken utility and incentive participation

Recent Signals (AdEx)

ExchangeWireFeb 12, 2025

Attekmi Unveils AdEx Enterprise: Next-Gen Ad Exchange Solution

Attekmi announced the upcoming release of AdEx Enterprise, a new scalable ad exchange platform designed for partners needing advanced functionality. Building on the features of AdEx Basic and AdEx Plus, AdEx Enterprise is described as offering a 20k minimum QPS plan, all ad formats, and expanded integrations, with new capabilities and extended settings. Notable additions include expanded connection types with direct integrations, support for private marketplace deals, and a traffic analyser tool to monitor suspicious activity and optimize traffic. The offering also includes a white-label ad exchange solution with UI personalization and bespoke feature development, plus optional services such as custom ad tech development and ad ops outstaffing and training. Attekmi positions AdEx Enterprise as enabling growth across regions and media operations. CEO Roman Vrublivskyi emphasizes continuous product upgrades to meet partner needs and competitive pressures.

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VideoWeekJun 12, 2024

Video Drives Europe Digital Ad Growth, IAB AdEx Finds

European digital advertising grew 11.1% in 2023 to €96.6 billion, with inflation-adjusted growth of 3.8%. Video remained the top performer within display, rising 20.9% year-on-year to €21.8 billion and now making up 45.1% of total display. Social video ad spend climbed 26.7% to €11.6 billion, nearly matching non-video social ads at €11.7 billion. Outside social, video spend grew 15% to €10.2 billion, while audio advertising increased 23.1% to just under €1 billion. The UK led video investment at €7.99 billion, with Germany €2.34 billion, and video revenues topped €1 billion in six markets (UK, Germany, France, Italy, Turkey, Spain). Connected TV (CTV) growth was around 23.5% across Europe, with Spain reporting 98.5% growth and Italy 25.5% and the UK 20.9%.

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ExchangeWireJun 28, 2022

IAB Europe Releases Full 2021 AdEx Benchmark Report To Reveal Digital Advertising Market Size - ExchangeWire.com

IAB Europe today released its full 2021 AdEx Benchmark Report covering 28 European markets. The study shows digital advertising expenditure rose 30.5% in 2021 to €92bn (£79.36bn), the fastest growth since 2008, adding €21.5bn to the market. Seven markets grew above the average, and growth exceeded forecasts (IAB Europe had projected 28.6%). Average ad spend per person stood at €115, with Spain (€92) and Poland (€38) below the average. Video grew 46.2% to become 41% of all display spend, and in Ukraine, the UK, and Italy video now accounts for more than half of display spend in those markets. Digital audio grew 50.7% to €700m (3% of display spend). Programmatic advertising reached 57% of display spend, driven by private marketplaces and adoption in CEE. Townsend Feehan (CEO) and Dr. Daniel Knapp (Chief Economist) highlight SMB/e-commerce-friendly formats and the varied European ad spend landscape.

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AdEx: Frequently Asked Questions

What is AdEx?

AdEx is an Estonian Web3 adtech company operating a self-serve DSP with blockchain-based ad verification and settlement, alongside adjacent crypto AI products.

Who uses AdEx?

Its main users are Web3 advertisers, blockchain projects, and crypto marketing teams; some consumer crypto users also use its AURA and heyAura products.

How does AdEx make money?

It mainly earns a take-rate on advertising spend through its DSP, with additional monetisation tied to ADX token usage, staking, and premium product access.

Company Facts

Founded
2017
Headquarters
Narva mnt 5, Central city district, Tallinn, Harju county 10117
Core Segment
AdTech Vendor
Company Size
10–49
Official Link
adex.network