GIFTO(GTO) - Whitepaper Simplified

Introduction:

GIFTO is a blockchain protocol that allows the creation and customization of virtual gifts for content creators. Virtual gifts can be purchased using GIFTO tokens, which are sent by viewers/fans to content creators on all major social networks. Uplive, a streaming platform is the first app to use GIFTO. 

GIFTO is not just an idea without anything. It comes with existing large base of users and content creators. In Sept 2017, over 25 million virtual gifts were purchased and sent on Uplive.  

CORE IDEA:

GIFTO is trying to complement/replace existing broken content monetization model with a better monetization model using virtual gifts on blockchain.  

•  The current model is broken because
  1. Difficult for the vast majority of content providers to make a meaningful living from doing so. 
  2. This disproportionately favor mass-market content and “top-tier” producers orphaning the vast majority of budding online content creators and stifling the diversity and quality of content being produced.  o Since many content platforms rely so heavily on advertising revenue, they often have little choice but to cater to the whims, demands and expectations of the advertisers.  
•  The virtual gifts generate high revenue because 
  1. Visual expression is essential to make it fun for senders and receivers of gifts. 
  2. Virtual gift is critical in enhancing social relationships.
  3. Users are willing to pay significantly pay real significant real money for virtual gifts(on Uplive the gifts range from $0.1 to $1500) o Virtual gifts are an integral part of a larger gamification framework (scarce, customized, transient, occasion-based, collectible, tradeable, interactive, randomly generated).

Blockchain is needed for this virtual gifting/monetization system to exist independently of any centralized system.   

Visual Representation:

Adoption:

• Uplive brings 70 million global user reach to GIFTO. It already represents a large slice of the global content creation and virtual gifting market. 
  • 
• Commercial version 1 of GIFTO protocol(Full ecosystem enabled, with commercial-grade fast transactional blockchain server) launch is expected by Q3 2018.

Token Economy:

•  1 billion is the total fixed supply, The supply is planned to be released slowly over many years.
•  Growing demand: more and more users want to use the token to create value.

Company behind GIFTO- AIG

• PengPeng, the first gamified social chat app in Asia, amassing over 40 million downloads.
• Uplive, the live streaming platform with highest monetization, on track for USD $100 million in revenue for 2017, with over 20 million downloads since its launch in June 2016. 
• BigCat, the #1 original YouTube Content maker in South East Asia, with 150 million views per month on YouTube, attracting 11 million unique viewers per month.
• Superfans, the #1 fans app that allows fans to follow their favorite stars’ social media activities, amassing over 10 million users since launching in 2016.
• 50+ of the highest quality mobile HTML5 social games, which have accumulated over 30 million users worldwide.

Team:

Andy Tian 

• Was the General Manager of Zynga China, where he spearheaded Zynga’s expansion in China and personally oversaw the inception and creation of many global top 10 games. 
• Before that, he was an early member in Google China and built its mobile business from the ground up, including introducing Android to China in 2006. 

Charles Thach

• He co-authored AML/KYC policy and procedures for a global bank and subsequently initiated and participated in selection of blockchain technologies to implement such procedures. 
• He cultivated relationships with financial institutional clients that over the course of a decade generated hundreds of billions USD in transaction notional, with products ranging from simple payment mechanisms to sophisticated financial derivatives such as correlation/variance swaps and swaptions.  

William H. Nguyen

• He is the author of the U.S. Patent Pending Technology allowing one to build a massively scalable and transactional cryptocurrency wallet that can handle billions of users.
• His mission for the latest work is to bring blockchain to the mass so that everyone can experience the benefits of this nascent decentralized technology in their daily lives.

Angel investors include Founder of Palantir, Co-Founder of Zynga, VP of VR Facebook, Senior staff from Facebook and Google.

Institutional investors include – KPCB, Wicklow Capital, white start Capital, Index Ventures(early investor in twitter and facebook) and MSA.