I am confident that GTO’s price will reach at least $0.80 by the second week of January and may even have some longer-term potential too.
The GIFTO (GTO) token finally proves that people are super weird, but who am I to judge. I respect any cryptocurrency which has the potential to generate significant profits for its investors. The GTO token seems legit so let’s delve deeper.
Ever heard of Uplive? Me neither. Well apparently that is a platform for content creators which is really popular in Asia. Uplive allows content creators to earn money by receiving virtual gifts. Basically it’s a tipping system which aims to solve the problem of content creators being too dependent on ad monetization on YouTube. So if you are on Uplive your fans can send you arbitrary fake gifts which cost real money (what a deal right?). I could send someone on Uplive a virtual Lamborghini (this is like an animated Lamborghini image that appears on your screen) and I would have to pay for this gift. In return whoever gets the gift also gets a percentage of whatever I paid for the gift while the rest goes to Uplive. You can even send things such as magic unicorns etc. I don’t really get why anyone would spend their time openly pretending they have a magic unicorn, but a lot of people seem to like it. I would suggest to you that this is one of those forms of entertianment which a lot of people like for no reason. Some people on Uplive are making up to $50k/month and the entire industry is now valued at over $5.8 billion in China alone, according to Credit Suisse.so there’s definitely some action going on over there.
What does all of this have to do with GIFTO you ask? Well GIFTO is a “gifting protocol” created by the same company which created Uplive. It aims to allow the virtual gift giving to occur outside of Uplive as well and on networks such as YouTube, Instagram and Facebook. Since a lot of YouTube and Facebook content creators are already looking for alternative ways to monetize content such as direct tipping and Patreon, this makes GIFTO an exciting opportunity. The GTO is an ERC-20 token based on the Ethereum blockchain. Why does it have to be on the blockchain though? Reason #1 is that each of the gifts you can give is actually a limited edition and some gifts are rarer than others. When content creators exchange back their gifts for actual money it’s important to have an immutable record of gift value and uniqueness so that gifts don’t get copied. The blockchain will allow each gift to have the same value whether you choose to send it over Instagram or YouTube. Reason #2 is that it is much safer than using the centralized Uplive database which is not immutable. Reason #3 is that it will allow GTO to be an ERC-20 coin which gives even more flexibility to content creators.
What about the actual ICO dynamics? Well I am liking it so far. They are only looking to raise $10m and as you know (if you are following my blog) the best size for an ICO is between $2m and $10m. The team is really strong too. The CEO Andy Tian was the former head of Zynga China and already has created the successful company Uplive (over 20 million users). If people continue to enjoy their virtual lives more and more (which they probably will) the GTO will probably grow in populariy significantly.
Final Verdict: My analysis tells me the GIFTO token will be a massive success. I am confident that GTO’s price will reach at least $0.80 by the second week of January and may even have some longer-term potential too. At $0.10 ICO price that’s an 8x increase. I know I will be investing in GTO, what about you?