Bidooh, a real-time digital billboard advertising platform, has launched the Initial Coin Offering (ICO) of its cryptocurrency DOOH token.

The news follows the successful raise of the $5 million soft cap during the pre-sale period which began on 1 October.

Since then Bidooh has also secured listings for its DOOH token on exchanges globally, signed multiple commercial contracts and continued to roll out its digital billboard platform to new territories.

The company's GDPR-compliant blockchain-based platform uses anonymised facial analysis to produce targeted adverts in real-time.

Consumers who choose to engage with the adverts and give their consent via Bidooh's app will be rewarded with DOOH Tokens. These can be held, traded for advertising space or redeemed at participating retailers and restaurants.

"We have been delighted by the interest in Bidooh since the launch of our token pre-sale," said co-founder and CEO Abdul Alim.

"It shows the widespread support for our vision of revolutionising real-time digital billboard advertising and the benefits of modelling our platform around blockchain technology, both for the advertiser and the consumer.

"Our DOOH token has secured the support of some of the world's largest digital exchanges and we continue to make solid progress on signing commercial contracts to roll out Bidooh's platform across a global network of screens.

"The DOOH utility token has been specifically designed to offer discounted advertising space on the Bidooh platform and allow holders to benefit as the tokens rise in value."

Bidooh's platform is currently running on 16 screens across five different locations in the UK with more than 900 advertisers signed up following the pre-sale.