Over the past few years, blockchain and in particular cryptocurrency has got a lot of individuals talking. A significant shift in the technology is that we are starting to see more of a mainstream shift rather than only relying on financial.
Presumably one of the most viable sectors set to adopt blockchain is apparently the social networks themselves. It is evident that our current state of social media has a lot to desire regarding regulations, payout and user freedom. However, blockchain can quickly eliminate this kind of challenges through their decentralized infrastructure that is a prime exception.
An excellent example of a blockchain social networking venture is SelfieYo, and luckily we get to have an overview of what to expect from the ICO with similar goals
What Is SelfieYo Gold Token?
SelfieYo Gold Token or SGT is an Ethereum based currency that will act as a standard coin, spendable and earnable on the token own social network, SelfieYo. The social platform will have social media influencers earn the SGT tokens for their efforts and accordingly to the number of votes they will get from users. The concept is to form a decentralized social media where users can earn from their contribution to the social application. As of now, it is unfortunate that only the centralized authorities such as Facebook and Twitter are the only one that gains from content posted by users.
How Do You Get Into SelfieYo?
Like the typical social media, SGT users will have to register by using their email address. However, as an additional precautionary measure, the platform will still require you use your authentic identification documents. That is not to mention asset verification and an income report to facilitate vetting by the token issuance party. Once your application is due compliance, a verification fee is applicable in the validation of your participation.
The Pros And Cons Of Using Selfieyo Crypto Social Network
- Liquidity- the SGT tokens are redeemable within the SelfieYo platform for other premium features such as filters and face masks.
- Content ownership- the social media influencers will have full ownership of their content and can earn from their posting efforts to other users.
- Earning options- prospective users get to make through affiliate programs and referrals.
- Voting rights- SelfieYo users are the only ones that get to reward the social media influencers through voting, giving power to the ordinary users.
On the other hand, there are also factors with the platform that is not too pleasing with the SelfieYo Platform. First off is the need for personal details to register. While it is a necessary security formality, that is not enough cause for a blockchain platform to take such a crucial step. Additionally, some more appealing social networking platforms are offering more exciting features at less complicated procedures.
SelfieYo Gold Token SGT Coin ICO Details
Unlike most blockchain ventures, SelfieYo stands out with their ICO due to their already working product. The pre-ico is live now. You can invest in the SGT coin using Ethereum. The platform was in execution for several years, and the current approach is to establish a social engagement on the blockchain. The major disadvantage is how one will need to undergo scrutiny for the registration procedure. However, this is not enough evidence on the potential of SelfieYo. The best advice is to ensure enough information is at hand before blindly purchasing the tokens.