Category Archives: Virtual Gifting
SINGAPORE November 17 – In front of a packed audience at Singapore Fintech Festival, Gifto, a new blockchain protocol for ‘virtual gifting,’ announced their plans to sell $30 million in an upcoming token crowdsale. In addition, the company announced a partnership with KyberNetwork at the event alongside Loi Luu, their co-founder and CEO, to allow users and content creators to easily exchange tokens seamlessly on the Gifto platform as the company rolls out their platform to millions of users by Q1 2018.
Gifto is being launched by Uplive, a live streaming mobile application with over 20 million users that uses virtual gifting to reward content creators on their platform. Every month, millions of people use Uplive to view livestreamed content from over 60,000 content creators on their platform. To reward creators, viewers of a livestream on the app can send unique virtual gifts to their favorite content creators in the form of digital bouquets of roses to jewelry to even virtual cars and yachts, which can then be exchanged for actual money.
Uplive has stated that it will earn over $100 million of projected revenue in 2017 alone from virtual gifting. Gifto plans to take that business model to the blockchain, making it universal, and allowing content creators not only on Uplive, but every other content platform in the world, including YouTube, Facebook, and Instagram, to generate revenue through virtual gifting.
The Gifto Protocol is envisioned to be a self-governing and self-sustaining ecosystem for virtual gifts to be created, curated, tracked, bought, sent and exchanged across any content platform such as YouTube, Instagram, Facebook, etc. Virtual gifts will be immutable, universal and independent of any content platform and will be stored as smart contract assets that fans can send to their favorite content creators on any platform, without any plugin or additional technical integration.
“Our goal is to be one of the first companies to roll out a consumer focused blockchain platform with mass adoption,” said Andy Tian CEO of Asia Innovations Group (AIG) the maker of Gifto and Uplive. “ Gifto is a technology platform that our own users and broadcasters have been asking for, while simultaneously create value for content creators and influencers on every major platform in the world.”
Tian, a serial entrepreneur and the former head of Zynga China, announced details yesterday at a packed media forum event at Singapore Fintech Festival discussing ‘How Asia will lead the West in Consumer Blockchain Adoption’ that included Paul Kohlhaas, Dir of Global Business Development for uPort at ConsenSys, Remington Ong, Partner at Fenbushi Capital, Loi Luu of KyberNetwork, and Chris Miess, former CFO of TenX.
Gifto was also selected today by Binance, one of the world’s largest cryptocurrency exchanges, to become the first project on Launchpad, a new, exclusive, platform that provides their community with vetted, high-quality projects and provides a safe and secure way for them to purchase tokens.
The company has announced a whitelist for its token crowdsale which is set to begin for the public on December 14.