Gifting is a very lucrative industry across the world, owing to the emotional connect it garners in the hearts and minds of gift givers and receivers. And with the blockchain technology already booming and blasting its way into social consciousness, it was only time before an innovative and decentralized gifting solution was found.
One unique and interesting finding in this space is Gifto built on the Ethereum blockchain and targeted mainly at content creators, who generally have fan followings that like to shower virtual gifts on them.
The solution essentially aims to tokenize these virtual gifts on the blockchain which can be bought, sold, customized an exchanged in lieu for rewards. In an ever growing entertainment market where the interaction between content creators and audiences has reached a new level of intimacy, this gifting solution aims to penetrate deep into the content generating industry that includes live streaming to help creatives expand their source of revenue by building on top of existing norms.
What makes this solution even more cool is the fact that it can be easily integrated across social media platforms like Facebook, YouTube and Instagram. So someone like Bruno Mars or Rihanna can create their own virtual gifts that can be customized as well, price them, and fans can use Gifto tokens for exchange of these gifts.
The 30 Million token sale for the project got over in just 1 minute.
Yes, this fact is not just record-breaking and mind-boggling, but goes to show that the project has generated the right kind of interest. The project is even supported by Bincance.com’s Launchpad that promotes interesting next-gen blockhain projects.
Gift on the Blockchain
It would be interesting to see how this appealing gifting solution gains traction once it goes live, and which content creators with massive social followings will start using it. But with the enormous backing it has generated in terms of funding and people, as well as the impressive list of supporters it has gotten, Gifto seems to be on the right path to gain mass adoption and revolutionize the virtual gift ecosystem.
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