What Is Gifto?

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Behind Satoshi Nakamoto’s creation of Bitcoin lies a simple, core belief: that financial transactions in a digital world can be peer-to-peer. To that end, certain projects have looked to extend blockchain technology to a variety of services including content curation, digital advertising/marketing, and social media/content platforms. Gifto is tackling all three of these areas with its digital gift service. Using Gifto, consumers will be able to pay creators for their content with virtual gifts, which can be bought and exchanged for Gifto tokens on the service’s platform. Though all this may sound silly, it actually offers a peer-driven solution to the inequitable revenue sharing model that digital advertising creates. If you’re still not convinced, keep reading – we go over the specifics in detail below. Say Hello to Gifto Simply put, Gifto is a decentralized protocol built on Ethereum that allows users to exchange virtual gifts through digital/social media platforms.   It’s the brainchild of CEO Andy Tian and his company, Asia Innovation Group. A former employee of Google, Andy ran Google’s mobile development in China, introducing Android to Chinese markets. Afterward, he went on to found a number of startups, the latest of which is AIG. In essence, Tian positions Gifto as an improvement on the virtual gift-giving mechanism of Uplive, AIG’s flagship product.  Launched in 2016, Uplive is a live streaming service that allows users to broadcast or watch real-time videos on their smartphones. In China alone, live streaming was a roughly US$5 billion industry in 2017. And Uplive has played its…
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