Traffic exchanges were quite big in 2008 to 2011, if I recall correctly. Unfortunately, many abandoned the idea due to "friction" that resulted between their ad revenue, and the companies that paid it. Earnings were penalized if they were coming from a TE, as it was not considered organic, or paid advertising.
However, outside of the advertising niche, they offer fair value, and if you can attract a certain caliber of user, even more so.
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Yeah they were quite useful and effective tools, but then things took a turn. Hopefully, CTPX breathes new life into them!