{"id":2486,"date":"2022-03-05T17:04:56","date_gmt":"2022-03-05T17:04:56","guid":{"rendered":"http:\/\/smart.onlinesarafi.com\/index.php\/2022\/03\/05\/gifto-whitepaper\/"},"modified":"2022-03-05T17:04:56","modified_gmt":"2022-03-05T17:04:56","slug":"gifto-whitepaper","status":"publish","type":"post","link":"https:\/\/smart.onlinesarafi.com\/index.php\/2022\/03\/05\/gifto-whitepaper\/","title":{"rendered":"Gifto Whitepaper"},"content":{"rendered":"<div readability=\"80.482014388489\">\n<p>Abstract<\/p>\n<p>This paper outlines the case for the implementation of a decentralized virtual gifting protocol to incentivize  and  monetize  content  generation  by  individual  content  creators  worldwide.  The protocol  may  be  deployed  on  various  existing  content  publishing  platforms  on the  internet, such  as  YouTube,  Instagram,  and  Facebook,  among  others,  and  can  be  used  to  complement conventional revenue streams which are primarily derived from advertising.<\/p>\n<p>Asia  Innovations  Group  (\u201cAIG\u201d)  is  a  leading  mobile  entertainment  company  in  Asia.  It  has demonstrated that virtual gifting system is a highly effective monetization method for content creators  on  its  flagship  live  video  platform,  Uplive.  Virtual  gifts  on  Uplive  not  only  drive significant revenue for global content creators, but also enhance interactions and relationships between  creators  and  their  fans.  Since  its  launch  in  June  2016,  the  Uplive  community  has rapidly expanded to 20 million global users, and the platform will generate more than USD $100 million in revenue  for 2017.  In September alone, over 25 million virtual gifts were purchased and sent on Uplive.<\/p>\n<p>The Universal Gifting Protocol draws from the positive Uplive experience, and seeks to enable content producers across any content platform  to  receive gifts  from  their  fans.  These virtual gifts  will  exist  independently  from  any  platform  and  retain  their  properties  without  any centralized controlling mechanism.<\/p>\n<p>Each virtual gift will be implemented as a smart contract on Ethereum blockchain, enabling the virtual gifts to exist, be owned, and be  transacted independently  from any particular content platform  or  system.  This  will  serve  to  reduce  the  dependency  of  content  producers  on  their publishing  platforms  to  secure  revenue  for  their  work,  and,  by  extension,  reliance  on advertisers.  The proposed currency  for  transacting in  the virtual gifts is GIFTO Tokens, which will be deployed as an ERC20-standard  token on  the Ethereum blockchain. GIFTO Tokens will also  be  used  to incentivize and motivate an ecosystem  of  participants to  help  create,  curate, and redeem virtual gifts.<\/p>\n<p>The  Alpha  version  of GIFTO Protocol  will  be  tested  by  end  of  2017,  and  the  Beta  version  is targeted  for  testing in Q1 2018, with  full commercial launch in Q2 2018.  GIFTO Protocol will leverage on Uplive\u2019s existing 20 mln user base and 60,000 content creators to test, iterate, and jump-start  mass  adoption,  towards  the  vision  of  empowering  millions  of  content  creators worldwide.<\/p>\n<p> <a href=\"https:\/\/www.allcryptowhitepapers.com\/wp-content\/uploads\/2018\/05\/Gifto-Whitepaper.pdf\" class=\"pdfemb-viewer\" data-width=\"max\" data-height=\"max\" data-toolbar=\"bottom\" data-toolbar-fixed=\"on\">Gifto Whitepaper<br \/><\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Abstract This paper outlines the case for the implementation of a decentralized virtual gifting protocol to incentivize and monetize content generation by individual content creators worldwide. The protocol may be deployed on various existing content publishing platforms on the internet, such as YouTube, Instagram, and Facebook, among others, and can be used to complement conventional [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2486","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/posts\/2486","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/comments?post=2486"}],"version-history":[{"count":1,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/posts\/2486\/revisions"}],"predecessor-version":[{"id":2487,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/posts\/2486\/revisions\/2487"}],"wp:attachment":[{"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/media?parent=2486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/categories?post=2486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/tags?post=2486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}