AppCoins is aiming to be “the protocol for the app economy”. Find out what that means as we look at the platform today in our review.
What Is AppCoins?
AppCoins, found online at AppCoins.io, wants to reinvent the apps economy using blockchain and digital tokens. The project is being developed by Aptoide, a mobile app store.
AppCoins will be used for developers to advertise their app or game in the app store. Developers can pay users with AppCoins in exchange for two minutes of their attention. AppCoins can also be used for in-app purchases.
The digital currency is already supported by the Aptoide App Store, which has 200 million active users and 4 billion app downloads according to data posted on the AppCoins.io website. Based on that information, AppCoins claims to be “the first ICO serving 200 million users”.
What Problems Does AppCoins Seek to Solve?
By 2020, the number of smartphone users is expected to double to 4 billion people. Revenue is also increasing across the mobile app industry.
Unfortunately, the app economy still features some outdated systems that lead to major challenges, including:
There are several intermediaries between developers and users, increasing costs for developers as they’re forced to work with advertising companies, advertising platforms, and other middlemen.
In-App Purchases Are Inaccessible to Many Users:
Many users never make in-app purchases. Some don’t want to make a purchase, while others avoid in-app purchases because they have limited payment methods. Even when developers do make money from in-app purchases, they lose a significant amount of money to middlemen, payment processers, payment gateways, and fees. Developers struggle to charge micro-payments to users because they lose too much money in fees.
App Approval is Not Transparent:
It’s still difficult to confirm the identity of developers, and there’s no universal approach used by app stores. Developers might spend months creating the perfect app – only to have that app blocked from app stores for an unknown or vague reason.
AppCoins believes it’s the solution to these problems.
How Does AppCoins Work?
AppCoins plans to use blockchain technology and smart contracts to solve all of the above problems for developers and users. It’s an open and distributed protocol for app stores. Although AppCoins is already being integrated into the Aptoide app store, it can also be integrated into other app stores in the future.
“It’s the new universal language of the app economy,” explains an introductory video posted on AppCoins.io.
The platform is built on the Ethereum blockchain. Here’s the basic processes users and developers can use to interact with each other over the platform:
- Advertising intermediaries are no longer present in the AppCoins system; the only fees go towards the app store and the hardware manufacturer. Otherwise, the developers and users make transactions in a seamless, low-cost environment.
- Let’s say a developer wants to encourage users to use his or her app. That developer might charge a “cost per install” rate. With normal advertising networks, developers pay a high fee, with the majority of that fee going to intermediaries. Users receive nothing.
- With AppCoins, things work differently. Developers can setup a cost per install marketing campaign. Let’s say a developer is willing to pay $1 for each app install. A user installs that developer’s app. The developer pays $1 to the AppCoins platform, and the user who installed the app earns $0.85.
- Developers have a reputation on the AppCoins platform. That reputation is based on their transactional history across stores. So even if the developer is new to a particular app store, that developer can enjoy a strong reputation thanks to their previous transactional history.
- All information is stored on the blockchain, making app approval automated across app stores.
- In-app purchases are also designed to generate bigger margins for developers. There are fewer intermediaries, which means developers receive more money from each in-app purchase. The use of a cryptocurrency like AppCoins also leads to frictionless payments – so developers pay less fees than they would when accepting credit cards or other traditional payment methods.
- Finally, users can make in-app purchases even if they don’t have traditional payment methods. Users can accept AppCoins from other users without ever adding credit cards or bank accounts to the platform. You can spend AppCoins on in-app purchases.
Ultimately, AppCoins aims to apply a new technology – the blockchain – to an old problem – high fees for app developers. Developers access an efficient and cost-effective way to monetize their apps. Users can access a trusted, low-cost ecosystem with high-quality apps. And app stores can access new revenue streams.
Who’s Behind AppCoins?
AppCoins is being developed by Aptoide, an alternative app store that offers 800,000 unique apps and has 200 million users. The app store also has 12,000 publishers and 70 different manufacturers.
Aptoide has accepted AppCoins as a digital currency since Q3 2017.
Key members of Aptoide include Paulo Trezentos (CEO and Founder) and Alvaro Pinto (COO and Founder).
AppCoins and Aptoide are headquartered in Lisbon, Portugal, although they also maintain offices in Singapore and Shenzhen. Aptoide was founded in 2011.
The AppCoins Token Sale
The token sale is scheduled for November 20 to December 6, 2017, with a pre-sale for existing Aptoide users taking place from November 6 to November 20. You can purchase AppCoins tokens (APPC) to participate in the AppCoins ecosystem.
The company is releasing a total supply of 450 million tokens, with 180 million tokens (40%) available during the crowdsale. The tokens are set at a price of $0.10 per token. No further tokens will be created in the future.
The sale has a soft cap of $2.5 million USD and a hard cap of $15.3 million.
App Coins Conclusion
AppCoins is an app store platform built on the Ethereum blockchain. The platform includes an advertising system and a cryptocurrency. Developers can enjoy cheaper advertising, fewer intermediaries, and a frictionless payment solution. Users, meanwhile, can enjoy easier payments and high-quality apps.
AppCoins has already been integrated into the developer’s existing app store, Aptoide, which has 200 million users around the world. However, the platform is being built as a decentralized, open protocol that can be implemented into any existing app store.
To learn more about AppCoins and the ongoing token sale, visit online today at AppCoins.io.