SpaceX is teaming up with a Canadian tech startup to launch an advertising billboard in space. Samuel Reid, CEO, and co-founder of Geometric Energy Corporation (GEC), said that his firm is joining Elon Musk to launch a satellite dubbed CubeSate, reports Insider.
The satellite will feature a huge screen on one side where people can place bids to have their adverts displayed in space. “There might be companies which want to depict their logo… or it might end up being a bit more personal and artistic,” Reid said to Insider. “Maybe Coca-Cola and Pepsi will fight over their logo and reclaim over each other.”
New era of advertising
To purchase a space on the billboard, buyers will have to go through a complex yet interesting process. For instance, anyone can buy the space as long as they pay more than other biddings. “I’m trying to achieve something that can democratize access to space and allow for decentralized participation,” Reid told Insider. “Hopefully, people don’t waste money on something inappropriate, insulting, or offensive.”
Buyers will also have to buy tokens in order to stake pixel space on the satellite. There are five tokens bidders can buy Gamma that determines the brightness of the billboard; Kappa, which represents the color; Beta for the X coordinate; Rhoe that determines the Y coordinate; and Xi that determines the duration an ad will be displayed.
Cryptocurrency to play a major role
Buyers can purchase tokens using cryptocurrencies. Reid said that he aims to have Dogecoin as an acceptable means of payment. SpaceX is yet to confirm this development, so there’s a possibility that this idea might not turn into reality.
Besides, SpaceX has been at the forefront of space exploration. The company recently won a huge NASA contract that will allow it to launch an orbiter to one of Jupiter’s icy moons – Europa. The company will be using its Falcon Heavy rocket for the mission that is set to kick off on October 2024. The contract is said to be valued at $178 million. The spacecraft will reach the moon in 2030, where the Europa Clipper orbiter will study the moon using scientific instruments aboard.
