Planing a trip and want to read a review about places to visit? Or have you just returned from one and want to write a review and help other people choosing where to go? And are you also tired that all you get from writing a review is a badge, ribbon or a point; while the corporations like Yelp and TripAdvisor make billions from marketing reviews?
Than Slovenian blockchain project Futourist is just for you.
Present
Content creators create a review and publish it on the internet, on sites like TripAdvisor, Yelp and Google Maps. In return, they get a "reward" in the form of useless ribbons, medals, points and ranks. And the corporation behind the site makes billions with advertising on the site. Content creators don't get a dime in return, no matter how much time did they spend creating reviews. Not only that, nobody can check if the review is real, because the majority of the reviews are in a written form. Written review is the one that is most easily faked, so people can't be totally sure what is true and what is false. There are even "professional fake reviewers", that companies can buy for either writing good reviews about themself, or bad reviews about their competition.
And it gets even worse. Last year, for some time best rated restaurant in London didn't even exist. Yeah, you read that correctly, didn't even exist. Author created a fake restaurant on the roof of his garage, posted pictures of fake food (even parts of his leg) and show could start. Then his friends wrote some really good reviews, and people started calling to get a reservation, but the author said, that they are booked in advance for weeks. And whole thing snowballed when people wanted to be part of the "exclusive club" that has eaten there, so they started to write excellent reviews. So soon, the restaurant was ranked as the best in London, workers wanted to work there and suppliers wanted to send free samples. Nothing like that can happen on Futourist.
The shock doesn't stop there. Do you know that the entire revenue of content industry was worth more than $190 billion and is set to increase to $313 billion by the end of 2019. And the number of tourists is increasing rapidly, by UN estimates it will reach 1.8 billion by 2030. Plus, with more younger generations starting to travel, the number of people using internet reviews to plan their travels is rising even faster.
From Futourist whitepaper
Future
Futourist will propel the content creation industry to the future. Whole platform will be based on the blockchain, which will enable rewarding the content creators with FTR tokens by using microtransactions. The best rewards will be given to video reviews, since they are the one hardest to fake. And people using the platform will vote which review is the best, so that better reviews will receive higher rewards. Businesses will also be able to create contests, to spread their recognition. And there will also be special "nearby competitions", which will get you even higher rewards.
FTR token and crowdsale
FTR token will be the cornerstone of the Futourist platform. Content creators will be rewarded with with it, businesses will be accepting it for their special offers. Plus, since it is a ERC20 based token, it will be easy to trade it on different crypto exchanges for other cryptocurrencies or FIAT. People will also be able to buy FTR tokens in pre-sale and crowdsale.
Token crowdsale details
So 35% of the tokens will be sold on the crowdsale, 17% will go to the team and will be frozen for 9 months after the crowdsale (to prevent the team from selling them right after the crowdsale). Additional 40% of them will be used to reward the community in the early months, before the tokens begin to circulate on the platform. The last 7% are reserved for future partners of the platform.
Token allocation.
The Limited Pre-Sale starts on February 20 and will last for 3 days, followed by the Unlimited Pre-Sale until February 27 continued by the Crowdsale until March 20th. Considering the huge number of people that did the KYC (more than 1000 in one day), all will be over way before March 20th. So if you want to participate, hurry up and fill the KYC before it is all over, since the Crowdsale hardcap is only 5,600,000€.
Roadmap and plans for the future
The team
One of the biggest advantages of Futourist is the team behind the project: Tim M. Zagar ( CEO of ICONOMI), Alexander Vasylchenko ( CEO of Sofitto and former CTO of Mycelium wallet), Michael Amy ( former United Nations WFP software consultant), Zenel Batagelj (Head of Team strategy at Cofound.it) and Primoz Kordez (Token model expert ). The team consists of people who already run a successful blockchain project, so they know their way around the traps of the blockchain industry, which is a huge plus. Moreover, the team is already in talks with exchanges about listing the FTR token, so that people who miss the crowdsale will be able to buy the tokens on the exchange.
Potential problems
One of the bigger problems will be to attract people to start using Futourist platform, since many are used to TripAdvisor and Yelp. The team will have to do some good PR after the ICO to spread the awareness about the platform. But the Futourist platform will be based on already working platform OpenHours that has more than 1 million monthly users. That is a huge plus.
Also, some people might be sceptical about the platform, since it will be using microtransactions to reward content creators. But, Steemit is the proof, that the concept works. Futuorist will only bring it to another use.
Moreover, some people don't like to make videos. Either because of their culture or their low self-esteem. This group of people will be in a huge disadvantage, because they will earn less for their reviews.
Conclusion
Futourist is a game changer in content creation industry. It also "checks" all the dots that successful ICO has to have:
- the platform will save an existing problem
- team behind the project has experience in the blockchain industry
- there is currently no competition in an another ICO.
So if you are interested, better fill the KYC and don't miss the train.