The Gifto Coin is a new cryptocurrency that was created to help creators monetize their digital content. It has been touted as the “world’s first decentralized gifting platform.”
The Gifto Coin (GTO) Guide is a guide that tells you everything you need to know about the new cryptocurrency. It includes links to guides for beginners, how to buy, and list of exchanges.
Tom Alford is a British actor. contributed to this article. 23rd of August 2018
Many people are unaware that virtual giving is a multibillion-dollar industry that provides content producers with a profitable alternative to advertising income. In this Gifto coin review, we’ll explain how the project is changing the market, how it works, and what we think its prospects are of success are.
The Issue Gifto Coin Is Trying to Solve
Anyone can create an account and develop a following on content sites like YouTube, Facebook, Instagram, and Twitch. When it comes to monetizing these following, though, content producers rely heavily on ad income. The issue is that platforms and marketers gain a lot of influence as a result of this.
Marketers want to reach as many people as possible, and platforms, understandably, want to keep their paying advertisers pleased. As a consequence, the overwhelming bulk of internet income goes to the most popular content producers, creating a “winner-take-all” situation. This structure makes it impossible for less popular and specialized content creators to establish a consistent revenue stream, regardless of how valuable their followers are.
To summarize, material produced on these platforms must appeal to a broad audience in order to be profitable. This implies that content creators are rewarded for producing material that appeals to the broadest potential audience, rather than simply creating excellent content. The present incentive systems encourage the creation of a lot of identical material and serve as a major deterrent for specialized content producers to go out and develop. This results in a lack of content variety, which is poor news for both viewers and the platform.
Gifto is developing a system that will connect with various content platforms and enable content producers to earn money directly from their followers. This implies specialized content creators will no longer be reliant on ad income or be enticed to manipulate the advertising system. Instead, these artists may concentrate on producing excellent material and expanding their fan base in their chosen niche.
What Is GTO Coin and How Does It Work?
The first thing to remember is that Gifto currency is also known as GTO coin. The two names are interchangeable and relate to the Gifto project’s cryptocurrency.
The Gifto initiative, in this sense, offers a unique, entertaining, and interactive method of tipping the content producers you like. On sites like Twitch and even YouTube super chats, the concept of tipping has grown very popular. However, many producers distribute their work over many channels, and there is presently no centralized mechanism for receiving tips from fans across various sites.
Viewers may purchase virtual presents in GTO coins and give them to the content creators they like via the Gifto system. When content producers get virtual gifts, they may retain them or convert them into Gifto coins, which they can then sell on a cryptocurrency market.
What Is Wrong With Today’s Content Monetization Methods?
Content platforms such as Facebook, YouTube, and Twitch have hundreds of millions of users. Because anybody can produce and post material, social influencers and famous YouTubers with millions of views on some of their videos have risen in popularity. These video producers may seem to be ‘living the dream’ and earning millions of dollars. But it’s just a trick of the light.
How difficult is it to get a million views on YouTube? Only 0.33 percent of all videos reach this magical threshold of views. To put it another way, 99.67 percent of all video material created does not appeal to this demographic. Sure, a million views seems like a lot, and we can’t expect many individuals to reach that goal. However, it’s worth noting that one million YouTube views only generates $2,000 in ad income. When you think about it, you can see how little money the average specialized content producer earns.
So now you know that the video producers at the very top of the YouTube pyramid make a lot less money than you first believed. Actually, things have become a lot worse. Advertisers have so much control over the platform that they can choose what kind of content their advertisements will appear on. Many YouTube videos were demonetized in 2017 due to sponsors’ concerns about their safety.
As a consequence, prominent video producers like H3h3Productions, which has almost 6 million followers on YouTube, suffered an 85 percent drop in income. This simply goes to demonstrate how much clout marketers have on content platforms and how much of an effect they can have on income for content creators.
YouTube demonetized smaller channels that didn’t satisfy all of the following criteria in January 2018:
- There are almost 1,000 people that have signed up.
- Within a year, fans watched 4,000 hours.
What Are The Benefits Of Becoming A YouTube Star?
BigCat, a Youtuber, is at the very top of the YouTube food chain, with hundreds of millions of views on his videos and over 11 million unique views each month. What is the prize for this incredible achievement? Approximately $20,000 each month.
Yes, this is a substantial sum of money. Consider the fact that BigCat is a YouTube winner. A content creator who has overcome adversity. Additionally, videos require money to produce, edit, and purchase props for. Despite all of these expenses, BigCat is undoubtedly living well. However, the benefits are much smaller than you would expect.
The reality is that the overwhelming majority of YouTube video producers have a very little possibility of earning a livelihood from their work. As a consequence, material is of poorer quality, and only a small percentage of content producers are able to earn a livelihood from their efforts.
Gifto provides a new source of income for content creators.
Another method to tip content producers is with virtual goods. There is only one method to give someone $10, but there are almost an unlimited number of virtual presents from which to select. The idea behind the gift is important, and it adds to the excitement for the content creator.
Giving is a natural human habit, and studies have shown that giving a gift elicits a greater reaction than just contributing money. People take seriously the task of choosing the “best” present, which results in the recipient’s pleasure and gratitude. As a result, there will be more engagement between the content creator and their audience, which should result in increased gift giving.
Unlike traditional advertising approaches, Gifto considers the content broadcaster to be the primary value creator. In the Gifto revenue sharing model, there are five distinct individuals who must be compensated:
- The Platform (10%) – platforms such as YouTube provide value while also hosting the content.
- Graphic designers are required to develop the amazing-looking presents in the first place (5 percent).
- Gift Reviewer (2% ) – Checks the gift description, eliminates low-quality presents, categorizes goods, determines price, and determines if the gift infringes on any intellectual property rights.
- Gifto plans to utilize this percentage of income to run promotions and lotteries for users to make Gifto even more enjoyable.
- Content Producer (80% ) – The content producer is responsible for the most of the hard work and therefore receives the lion’s share of the income.
Gifto is available to everyone, regardless of how large or small a content creator they are. Unlike platforms like YouTube, which reward smaller content producers with a much lower proportion of income share, Gifto is open to everyone, regardless of how big or small a content creator they are.
Will the Gifto Coin Actually Work?
Uplive is owned and operated by the same people that created The GTO cryptocurrency initiative. Over 60,00 content producers utilize the Asian app, which has over 20 million users. The Uplive app enables content producers to monetise their broadcasts via digital presents, with in-app virtual goods accounting for $100 million in 2017.
The July 2017 Uplive virtual gift sales statistics are fascinating to read. Over ten million digital presents were purchased, with prices ranging from 1.5 cents to $1,471. Surprisingly, 71 individuals were so impressed with the content producer that they spent almost $1.5k on the most costly digital present.
Virtual presents have been found to gamify the production of digital content at Uplive. Virtual presents, in fact, have qualities that are quite similar to those seen in computer games.
Limited edition presents are rare, gifts may be personalized, things must be used within a certain time period, fits can be combined to make unique and expensive items, gifts can be made for particular events, and so on.
Uplive is unique in that it has collaborated with companies like Mercedes to offer virtual presents of their goods. A digital red Mercedes SLK was offered on the app for Valentine’s Day 2017 and was very popular among gift givers.
Given Uplive’s success, it’s fair to assume that virtual gifts have a market and that content producers are willing to use them to commercialize. This is somewhat unsurprising, given that the top video creators on Uplive earn over $50,000 each month, compared to $20,000 on YouTube. Simply put, it seems that the virtual gift monetization strategy generates more money than conventional advertising.
Why Is It Necessary For GTO Coin To Be A Crypto?
Although Uplive is a huge success, the team has discovered that the app’s virtual giving feature has a few flaws. All of these issues will be addressed by the Gifto crypto project:
- A single mechanism that connects into all major multimedia platforms is required for virtual giving to really take off. The issue with Uplive is that virtual gifts may only be given to Uplive video producers and cannot be used to reward someone on YouTube. As a consequence, platform developers build separate islands of digital wealth, and there is no mechanism to transfer this value from one island to another.
- Virtual presents may be worth more than $1,000 in certain cases. This implies that they must be safeguarded from duplication. Gifto use blockchain technology to authenticate the validity of each virtual item and to keep track of virtual gift transactions on a public ledger.
- Transaction fees of up to 30% for payment processing may be charged by traditional contribution options.
- There is no mechanism in place to handle a large virtual gift system. It’s doubtful that every platform will want to go to the trouble of creating one. Despite the fact that Uplive has a good foundation in place, there are issues with centralization.
The time it takes for a curator to evaluate each donation, the artist’s uncertainty about how much value their creation has contributed, and revenue sharing concerns with companies like BMW are all examples of centralization issues.
It’s difficult to expand and grow a centralized system. This is why a decentralized system based on self-governance is beneficial. The Gifto project’s goal is to create a digital gift ecosystem that can operate on its own with little to no centralized supervision. As a consequence, Gifto is a cryptocurrency initiative rather than a centralized technology company.
What is the role of blockchain in Gifto?
Gifto is a digital gifting system that works across many platforms. Each gift needs data to be recorded, such as who made it, who owns it, and how much it costs. Gifto uses the blockchain to record this information in the form of a public ledger. Additionally, blockchain safeguards against the copying of digital gifts.
The Ethereum smart contracts are then used to carry out instructions like adding a present to the Gifto catalog, changing ownership, and so on. The Gifto technology effectively enables smart contract assets to be exchanged on sites like Facebook and YouTube.
The GTO cryptocurrency project is very clever in terms of its ease of usage. By simply adding a link, the content producer may set up Gifto on almost any platform. As a result, the technological barrier to using Gifto is almost non-existent.
The GTO Coin System is a system that allows you to trade coins.
The Gifto system is designed to be entirely self-contained. Consumers of content may open a Gifto wallet and purchase GTO tokens. The wallet also allows the user to visit the Present Store, where they may choose their digital gift and pay using GTO coins.
The broadcaster will have the gift added to their Gifto inventory after it is delivered to a content producer through smart contract. They may either retain the present or convert it into Gift coins, which they can then sell for cash on a cryptocurrency market.
So, how does Gifto function in the real world? It’s very simple to set up and just takes a few minutes:
- The content producer visits Gifto.io and chooses the presents that will be shown in their shop.
- A connection is established. This will display all of the goods available in the content producer’s shop.
- After that, the content creator may put the URL into their YouTube, Instagram, or Facebook channel.
- When a viewer hits the link, they will be sent to the content producer’s shop, where they may purchase and send gifts.
The Team
The Asia Innovations Group is behind the Gifto cryptocurrency concept (AIG). The business has a stellar track record, and its product line already includes:
- Uplive is a live streaming platform with a user base of 20 million people.
- PengPeng is Asia’s first gamified social chat app. Over 40 million people have downloaded the app.
- Superfans is an app that enables users to track all of their favorite celebrities’ social media updates. The app already has a ten-million-strong user base.
- One of the most popular Asian YouTube channels is BigCat. Every month, it receives around 11 million unique views.
- There are more than 50 social games with a total of 30 million players.
AIG has over 100 million users and produces more than $130 million in annual income.
Andy Tian, the CEO of AIG, is the show’s headliner. He formerly worked at Tencent as a deputy Corporate Strategy Manager. Tencent is one of the world’s biggest internet companies, for those who are unaware. Within the past year, the Asian IT behemoth has outperformed Facebook in terms of market capitalization. Andy was also the General Manager of the online poker firm Zynga, where he was in charge of the game’s expansion in China. Prior to that, he was a founding member of Google China, where he was in charge of expanding the mobile company. How did Andy end up in the field of technology? He got his start at a Silicon Valley company, as do most technology entrepreneurs, and has been developing companies ever since.
AIG is Andy’s fourth company, and we think Gifto has a good chance of succeeding based on his prior achievements.
GTO Coin’s Long-Term Prospects
Uplive has shown that there is a sizable market for digital gifting. We believe that having a gift-giving protocol that is cross-platform interoperable is very valuable. After all, content producers seldom stick to a single network, preferring to maintain a presence on several platforms such as Facebook, Instagram, and YouTube.
Gifto differs from other cryptocurrency initiatives in that it was developed by a team with tens of millions of users in their current asset portfolio. Gifto has already started to roll out to Uplive’s 20 million customers, and it’s not unreasonable to believe that AIG would follow suit.
There is little question that the existing digital content monetization structure is flawed. Gifto essentially gives content creators a larger part of the value their work generates. We believe that this is just too wonderful an opportunity for content creators to pass up.
It’s crucial to understand the reasons that may cause the value of GTO currency to rise as an investment:
- The demand for GTO coins will rise as more content producers utilize Gifto.
- The quantity of GTO coins is limited. This implies that when demand rises, the price will rise as well.
- Users on Uplive prefer to acquire digital tokens in round amounts and typically have tokens left over after completing a transaction, according to AIG. As Gifto becomes more widely accepted, this will naturally generate token holders, pushing up the GTO coin price.
Gifto’s adoption will take time. We are sure, however, that the AIG team is more than capable of making this project a huge success.
The Gifto Initial Coin Offering (ICO)
The Gifto Initial Coin Offering (ICO) took place on December 14th, 2017 and earned $30 million in investment. The Gifto currency was sold for ten cents apiece during the ICO. Since then, the cryptocurrency markets have seen one of the most severe bear markets in history, which means that Gifto coins are now available for purchase at a discount to their ICO price.
Should I Put Money Into GTO Coin?
Pros
- Content producers have a new and more profitable way to monetize their work.
- The annual market for digital presents is currently worth more than $100 million.
- AIG, which currently has over $130 million in annual revenue and 100 million users, launched the GTO cryptocurrency initiative.
- Uplive offers Gifto a total of 20 million users right now.
- There is presently no cross-platform giving or donating option.
- Payment costs for traditional contribution options may be as high as 30%. They will be much lower with GTO currency, which equals more money in the wallets of content creators.
- Gifto makes it possible for tiny content creators to make money. On sites like YouTube, on the other hand, only bigger channels are permitted to monetise.
- GTO coin enables content creators to get compensated for creating stuff that others desire to watch. People will no longer be required to create content in order to meet the requirements of platforms or marketers.
Cons:
- In the East, virtual gifts are commonly welcomed. It remains to be seen, though, if it will gain considerable momentum in the West.
- If Gifto has a detrimental effect on ad income, sites like YouTube may prohibit it.
- It remains to be seen if content creators would be ready to sell their virtual gifts and convert them to cash via a bitcoin exchange.
- The amount of content creators who really utilize Gifto will determine the solution’s success. We cannot be certain that Gifto will be extensively accepted until it is widely utilized.
If you want to buy Gifto cryptocurrency, please see our guide on how to do so.
Image courtesy of Coinmarketcap.com.
Final Thoughts
You want to see a brilliant concept and a first-rate staff capable of carrying out the vision in any bitcoin startup. We like Gifto’s concept and how it addresses a real-world issue. Most respondents believe that content creators should be paid more and that material should be created for the benefit of viewers rather than to meet the requirements of advertising.
Yes, there is a place for material that appeals to a broad audience. However, there are a number of specialized subjects about which many people would want to see material. It’s a pity that existing revenue methods discourage the development of material like this. Gifto allows individuals in these tiny niches to monetise and perhaps earn a livelihood off of their smaller audiences. This is fantastic news, and it should result in a larger selection of films and articles to pick from.
The TotalCrypto staff adores the Gifto currency concept and team. However, we are unsure if the Western world is ready to completely embrace virtual giving. We’ll be keeping an eye on this cryptocurrency initiative and are curious to see how it performs in non-Asian areas.
Current content monetization methods may be disrupted by the GTO cryptocurrency initiative. We’ll be keeping a careful eye on the project’s progress.
Visit TotalCrypto.io for more information.
1) Do you agree that content creators should be compensated more? Learn more about Steem, the Crypto World’s Reddit, which pays contributors in cryptocurrency.
2) Are you a BitTorrent user who enjoys digital entertainment? Did you know that Tron owns it and is working on a decentralized entertainment platform?
3) Have You Heard That Crypto Traders Are Making A Lot Of Money And Would Like To Join In? Everything You Need To Know To Start Trading Altcoins Is In Our Beginners Guide.
Resources
We’ve included a collection of useful GTO coin resources below.
Wallets for GTO Cryptocurrency that are the safest
A hardware wallet is the safest method to keep your money. Trezor and Ledger are the two major brands, and we highly suggest both. If you’re having trouble deciding between the two, check out our Trezor vs Ledger comparison.
What Are the Best Free Wallets?
Because Gift coin is an ERC-20 token, it may be stored in any Ethereum wallet. Here are our top two picks:
GTO Token: What Is The Best Crypto Tracking App?
Useful Websites
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DISCLAIMER: The activity of the cryptoassets discussed in this paper is uncontrolled. This post is not intended to provide financial advice. Always do independent research.
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Author Biography
Tom Alford
Tom is a cryptocurrency specialist and investor from Edinburgh, Scotland, who has worked in the industry for over 5 years. He graduated from the University of Nottingham with an MA in diplomacy and a BA in politics, providing him a solid grasp of the social and political ramifications of cryptocurrencies. He is a big supporter of the future use of blockchain technology and believes in long-term initiatives above short-term profits. Tom can be reached at tom@totalcrypto.io.
Gifto coin is a new cryptocurrency that has been designed to be used in the gifting economy. It was created by the company, Giftomon. Reference: gifto token.
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