Gifto coin is a cryptocurrency that utilizes blockchain to provide an ecosystem that allows the network’s users to create and develop various gifts that will be later used as an encouragement for content creators.
According to the project’s whitepaper, gifts are a great way to show gratitude in the current online community. The growing number of various exchanges that take place within the internet provided the financial exchange world with some new exciting possibilities that helped the Gifto company to offer a new way to support the content creators.
The Gifto project is a brainchild of CEO Andy Tian and the Asia Innovation Group (AIG) company. Andy was a Google employee and managed Google's mobile development in China, introducing Android to Chinese markets. After that, he continued to look for exciting opportunities and created several startups, the last of which was AIG.
The AIG corporation is headquartered in Hong Kong and provides mobile, social and online entertainment products to users around the world. One of these projects is Uplive. Uplive was launched in 2016 and is an application that allows users to broadcast and watch videos in real time. The Gifto coin network was an extension of the Uplive functional launched in December 2017. It was tested along with the flagship product of AIG, Uplive, which played a role in this budding project.
Both Uplive and the Gifto platform are currently available in more than 100 countries and have an active user base of more than 20 million people. However, the auditory is primarily Asian, and the project isn’t as well-known as it could be in the other regions.UpLive comes from Taiwan, and many of those who live outside of Asia have never heard of this app. But today it's ready to be revolutionary: the Asian Innovation Group (AIG), which works with UpLive, wants to spread the concept and incorporate it into all sorts of social networks. And the blockchain encryption system will help them in this.
The Gifto coin aims to improve the way the content creators are currently rewarded for their job. The platform seeks to provide a fun and efficient way to spread their view with the Ethereum blockchain across all the popular content platforms, including Facebook, YouTube, and Instagram.
The main participants of the platform are:
- Content creators are the most significant participants of the platform. They are the people who generate content like videos, posts and blogs.
- Viewers are those who view the content. If desired, they can send virtual gifts to the content creators as a token of appreciation.
- Gift makers are people who create various smart contract-based gifts on the platform.
- Gift curators are those who check the created gifts for compliance with the rules and control their value series.
Using GTO coins, viewers have the opportunity to buy digital gifts and send them to the creators of the content they like. The creators can convert the received gifts into GTO ERC20 tokens and trade them on the exchange or just leave the gifts on their balance.
The gift Creator designs a personalized asset based on the protocols in the gift pool and sends the product to the catalogue for review. After that, the Gift curator checks the quality of the gift, its price and classifies it for better sorting. The process then proceeds to the content Creator, who selects and accepts the gifts.
The equity matrix is calculated within the network and ensures that each participant in the chain receives a share of the value of the virtual gift created by the fan:
- The content Creator gets 80% of the incentives;
- The Creator of the gift – 5%;
- The curator - 2%;
- The "Gifto" Protocol will receive 10% for the operational costs of the ecosystem;
- The last 3% go to the rewards pool, from which periodic bonuses are funded to viewers and fans.
All this revenue stream reinforces the concept of decentralized exchange and incentives.
The price of GTO token or Gifto is always chaining, however, BitcoinWiki gives you a chance to see the prices online on Coin360 widget.
Andy Tian is the current CEO of the Gifto coin project. Tian was born in China but moved to New York at the age of 10. After launching Google's mobile business in China, he launched one of the earliest social gaming companies in the world – XPD Media, which was later sold to Zynga and became a part of Zynga China.
After leaving Zynga, he became one of the founders of AIG, which now has more than 300 employees located around the world.
Gifto coin originated from Tian's interest in the question of how game mechanics can be applied to other things that people often interact with. After a dialogue between both sides of digital content, he concluded that only 10% of all influential online players are now able to monetize their work effectively.
Charles Thach is a senior cryptographer and has worked on several cryptocurrency projects, including the idea of the highly scalable crypto code. He is now one of the leading powers behind the technical side of the project.
William H. Nguyen is the chief cryptographic architect of the platform. He had already shown some successful work on the development of a highly scalable crypto-shells. He is also a successful entrepreneur and investor.
The ICO of the project took place in December 2017 and helped the project to gather 30 000 000 US dollars.
- 30% – tokens for sale;
- 25% - reserve of the company;
- 30% – maintain the ecosystem;
- 15% – advisers, investors.
The Gifto coin is an Ethereum-based token and is not minable.