CFun Project – How Tokenizing Individual Creativity Works ICO?
Social media has transformed the way news and information is now shared between people. Depending upon an individual country, there are different setups that cater to the different audiences present in a certain region across the globe.
For example, in China the the dissemination of information is largely done via the use of a collaboratively generated content (CoGC) platform. Thus, it should come as no surprise that China’s largest CoGC company has officially announced their decision to build their latest platform on the Qtum Blockchain.
According to media reports, CFun representatives will attend the ”Qtum Kickoff Meetup” this coming friday, and discuss the nitty gritties of the project (including token sale and allocation).
What Is CFun?
CFun is China’s largest ‘collaboratively generated content platform’. It was founded in 2015, and according to official company reports, Cfun currently employs over:
- 210,000 writers
- 60,000 creator communities
- Produces 5,000+ new stories produced every month.
What Is CFun Planning?
In the coming 24 months, CFun aims to deliver customers with a social platform that allows anyone to “build their own community”, and deliver subscribers with unique content. Through the monetization of ‘individual projects’, it allows for tangible incentives to be delivered to creative content creators. CFun will be using its own tokens for its internal transactions, and via their use will work towards “redefining the value of community based incentives”.
What Is CFun Offering?
Blockchain Based COGC Platform:
This platform will be aimed to help establish “a global co-creation ecosystem” that will work towards generating revenue for “Skilled individuals and content creators”. As mentioned previously, this CogC platform will also feature a DApp (Decentralized Application) to go along with it. This application will be used to record the work of content creators, and can also help accumulate user behavioral data.
Some of the other key aspects of this platform include:
Detailed Customer Analysis:
Using an “exclusive patented algorithm” to match IP addresses with buyers, this platform will feature the ability to help monitor each creators contribution so as to regulate incentives (via the use of Smart Contracts).
This platform allows for multiple creators to come together, and “collaboratively create content that is fresh and accessible”, which can then be sold to a potential buyer on the blockchain.
According to the official company website, CFun will be able to “timely record all creation logs with both authorship and fans activity data onto blockchains”. As a result of this, vital data can be traced, and then attributed and audited in the future (as and when required).
CFun Token Sale Plan
In all there will be a total token supply of 1,000,000,000 (One billion) coins. In order to make purchases, users can make payments through the use of accepted Cryptocurrencies such as BTC, ETH, Qtum.
In terms of purchasability, only 500,000,000 (Five hundred million) tokens will be released to the general public for sale. From a pricing perspective, 1 CFun token is equal to 0.03 USD.
There will be three phases in which the distribution of tokens will be done:
Phase 1 (Private Placement): this phase has now ended. The bonuses that were available during this period, are no longer applicable.
Phase 2: this phase is currently in progress, and interested customers can go to the official website and check for more details. During this phase a discount rate of 20% can be obtained.
Phase 3: the token sale for this period will start on the 10th of December at 20:00 (GMT +8). There will be a 10% discount available on all purchases.
For any other details, users can drop in an email to the company founders so as to alleviate and doubts or concerns that they might have.