GIFTO aims to provide a decentralized universal gifting system that works for all content creators worldwide. The idea is to develop instant private payments through customized gifts according to its nature and character.
Besides, the protocol is friendly to all major content publishing avenues such as YouTube, Facebook, and Instagram among others. In the end, members can also use it to augment their revenue streams, mainly through online advertising. GIFTO operates on the Ethereum blockchain to facilitate a seamless implementation of customized gifts in a customer-driven community.
Tested by Uplive, a component of a leading entertainment company in Asia, GIFTO’s goal is to enable content creators across the world to receive customized gifts from their fans. GIFTO believes that each gift is unique both in character and in nature, which adds fun to the entire gifting practice.
The best part of it is that each virtual gift remains independent from any publishing platform and retains its properties devoid of any centralized control system. Members will implement their gifts as a smart contract through the Ethereum blockchain. This will confine the gifts to a particular publishing platform.
Traditionally, content creators depend heavily on the publishing avenues and advertisers to secure revenue on their behalf. GIFTO seeks to solve this dependence. In the protocol, GIFTO tokens will be the only mode of transacting the virtual gifts. The tokens will be deployed on the Ethereum blockchain as ERC20, which participants in the community will use to create and redeem the virtual gifts.
With the emergence of social media and online publishing platforms, anyone can now afford to create content and generate a big following—both fans and consumers. However, much of the revenue from these platforms is in the hands of advertisers, which makes the whole process centralized. In the end, the producers and consumers of the produced content are left behind with no power to make important decisions on the revenue arising from their content.
GIFTO—Finding The Solution
GIFTO operates on the idea that content creators can generate revenue from their work through virtual gifts and assets. The idea has worked well in the online gaming sector. All the same, Uplive the primary platform for the gifting protocol believes that the same process can work for content creators. The fact that Uplive has generated millions of dollars for more than sixty thousand content creators on a monthly basis is just a confirmation to this school of thought.
Given that content viewer base continues to increase, the income stream increases in the same proportion. GIFTO on its part seeks to build a platform on which the target audience can reward the producers with no intermediary involved. The objective is to improve the monetization mechanism so that millions of content producers worldwide can benefit and build a lasting relationship with their fan base.
Uplive believes it is possible because it’s already tested the revenue model. What remains now is to extend it to the rest of the world, powered by the blockchain.