ICO Alert Quick Facts
- Decentralized universal gifting protocol from the team at Uplive
- ICO has already sold out — hard cap raised in one minute
- $100 million in revenue (2017), with $25,000,000 in virtual gift transactions
- 20,000,000 existing users to use GIFTOs
- Product beta begins testing in Q1 2018
- ICO Price: 1 Ether = 4,300 GIFTO tokens (GIFTOs)
What is Gifto?
Gifto Protocol — The Universal Gifting Protocol is envisioned to be a self-governing and self-sustaining ecosystem for virtual gifts to be created, curated, tracked, bought, sent and exchanged across any content platform such as YouTube, Instagram, Facebook, and Uplive App.
— The Gifto Team
Pre-ICO Information (if applicable)
There was a private pre-ICO that sold out at a total of 200,000,000 GIFTOs. There was also a whitelist registration process that began on November 16, 2017 and closed on December 12, 2017 that will allow those that registered guaranteed access in the ICO.
The ICO was scheduled to begin on December 14, 2017 at 8 p.m. UTC and end on January 13, 2018, or when the hard cap of 100,000,000 GIFTO tokens is reached. There were a total of 100,000,000 GIFTOs available during the ICO and a minimum contribution amount of 0.3 Ether. The ICO sold out on the first day in under one minute, so any chance of purchasing GIFTOs in the future will be done on exchanges.
In order to participate, contributors had to have had gone through either a basic or enhanced KYC process. Those that participated in the basic KYC process had an individual contribution cap of 2.3 Ether, and those that participated in the enhanced KYC process had an individual contribution cap of 23 Ether. If you did not participate in the registration process you were not able to participate in the ICO.
1 Ether = 4,300 GIFTOs
Token Distribution Information
There are a total of 1,000,000,000 GIFTOs created with 300,000,000 GIFTOs for sale across the pre-ICO and ICO.
30%: Token sale
30%: Power the ecosystem
25%: Company reserve
Use of ICO Proceeds
The team has stated that the proceeds from the ICO will be used for: Product development and engineering; Marketing, market adoption, and user acquisition; and operations.
Andy is a successful serial entrepreneur (AIG, his fourth startup) and was previously general manage of Zynga China. While at Google, he was directly responsible for helping introduce Android to China. He went to MIT and has a bachelor’s and master’s degree in computer science.
William is a serial entrepreneur, educator, lecturer, inventor, and has co-authored U.S. patent pending technology to build a massively scalable and transactional cryptocurrency wallet. He is a former Alfred P. Sloan fellow at Harvard.
Charles co-authored US patent pending technology used to build a massively scalable and transactional cryptocurrency wallet. He has held Vice President positions in relationship management at Societe General, a large worldwide banking company. www.linkedin.com
Minh is an experience leader in mobile app development. He is considered a growth hacker, payments expert, and is an investor in blockchain companies. Minh earned a bachelor’s degree from the California Polytechnic Institute of Technology.
Collectively, Uplive already reaches 70 million users that will be incentivized to jump start the global virtual gifting ecosystem.
- Uplive’s 60,000 broadcasters have millions of fans OUTSIDE of Uplive on YouTube, Instagram, and Facebook.
- About 10,000 broadcasters have an average of 10,000 fans across these platforms, with a combined 100 million, assuming a large 50% overlap in users, conservatively the reach is 50 million users outside Uplive.
- Uplive’s 20 million users are also users on these global platforms, following other content creators.
Preparation: Seeing GIFTO with Uplive users
Once GIFTO Wallet is available in the Uplive app, the team will allocate GIFTO Tokens gradually to paying users in Uplive, to seed the user base for GIFTO, as these users are already paying for virtual gifts on a regular basis.
Phase 1: Alpha Version: Centralized GIFTO Protocol working in external content platforms
The Alpha version of the GIFTO Protocol will be available to Uplive content creators to use outside of Uplive: YouTube, Instagram, Facebook, etc. This is still hosted on Uplive systems and domain. The goal is to quickly iterate the user experience to enable any content creator to easily use GIFTO to start monetizing their content.
Q1 2018: Beta Version: Decentralized GIFTO Protocol in Blockchain working in external environment
Beta version of decentralized GIFTO Protocol, deployed on blockchain that is available for external users outside Uplive to use. This will be a hybrid on/off chain server solution to support fast transactions; front-end user experience iterated based on Alpha version. In this phase, we will start to work with new global content creators that are not on Uplive to iterate product experience further. Additionally, the first set of Smart Virtual Gifts will be deployed based on blockchain.
Phase 3: Commercial version 1 of GIFTO Protocol launch
Full ecosystem enabled, with commercial-grade fast transaction blockchain server. Will fully push to global content creators worldwide.
Q3 2018 and Ongoing
Ongoing iterations and expansions to the project.
For more information on the roadmap please visit the Gifto website.