Are Blog Ad Swaps Still A Thing?

I'm officially back in the blogging game and so excited about that. But a lot has changed since the last time I sponsored anyone, back in 2013, and I don't really know how these things work anymore. I'm considering taking on one paid sponsor a month for the time being and focusing on ad swaps until I really get into the swing of things.

Would anyone be interested? Does anyone still do swaps?

I would like to do one size for bloggers with 800+ followers and perhaps a second size for slightly smaller bloggers. I feel like this would be more fair exposure wise, and I would be able to swap with more blogs.

Any ideas or critiques on this plan would be greatly appreciated!