Kyber Network To Partner with Gifto

Kyber Network is delighted to announce a partnership with Gifto, a decentralized virtual gifting protocol that incentivizes and monetizes content generation by individual content creators worldwide. Gifto is a product of Asia Innovations Group (AIG), a leading mobile entertainment company in Asia.

Led by Andy Tian, the former head of Zynga Asia; Charles, an early blockchain adopter at a global financial institution; and William, a veteran engineer, researcher and educator, Gifto is operated by the same team behind Uplive, AIG’s flagship live video platform, which boasts 20 million global users and is expected to achieve more than USD100 million in revenue this year.

Content Platforms Today

Global content and social platforms such as YouTube, Instagram and Facebook have allowed anyone to easily create content and build a fanbase. However, most of these content platforms still rely on advertisements to generate revenue, and payouts from content platforms usually benefits a small group of content creators who have the most traffic, leaving out a vast majority of content creators that do not command as much attention. This disparity means that a large number of content creators are still struggling to make a reliable living from this avenue.

As a result, Uplive was created, and through its sophisticated virtual gifting model, the platform showcased that it is possible for content creators to generate significant and sustainable revenue.

Gifto

Moving forward, the Uplive team will be utilizing the blockchain technology to introduce its expertise in virtual gifting system to the rest of the virtual world. With the blockchain technology, anyone can keep track of the values, properties, and transactions of his or her digital assets in possession.

The Gifto 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 etc. Leveraging Uplive’s substantial experience in building virtual-gift systems, mass-consumer products and millions of content creators and fans, the alpha version of the Gifto Protocol will be ready for testing by end of 2017, and the beta version will commence in Q1 2018.

Kyber Network and Gifto Integration

The integration between Kyber Network and Uplive’s platform/Gifto Protocol will allow users to transact Gifto in a more flexible way. The long-term goals of the partnership will allow both parties to benefit from their respective decentralized networks, allowing more millions of users to experience seamless and convenient methods of handling their cryptocurrencies.

Through this partnership, the Gifto Protocol stands to benefit from more visibility and market penetration; members of the community who do not own Gifto tokens will be able to gift and reward content creators instantly and seamlessly holding Gifto token.

During the first phase of the partnership, both companies will focus on the integration of services. Kyber Network will benefit from the vast network that Uplive has established. In the longer term, Kyber Network and Gifto will focus on attracting greater acceptance of the conversion service and protocol by various platforms, thereby providing the opportunity for both to scale.