Gifto, a virtual gifting blockchain platform, has teamed up with Tron, to offer a free content entertainment system using blockchain and distributed storage technology. The new platform will leverage Tron’s technology to enable transactions of users using virtual gifts.
The joint venture will make it possible for the technology to be brought to the blockchain world so that virtual gifts can be curated, tracked, bought and sent across various platforms. Some of the platforms that the two are eyeing include YouTube, Instagram, and Facebook.
“We are excited to partner with Gifto and Asia Innovations Group to further expand the usage of TRON platform and technology, this partnership is putting together two companies that both have successful consumer entertainment apps, and both using blockchain technology to disrupt entire industries in the years to come, “said Justin Sun Tron founder
The unveiling of the joint venture comes just days after Gifto was selected by Binance, to become the first project in Launchpad. The new exclusive platform is designed to provide vetted high-quality projects in addition to providing a safe way of purchasing token.
Launched by live streaming mobile application, Uplive, Gifto already has over 20 million people using virtual gifting to reward content creators on the platform. With the huge user base, the platform should be able to generate over $100 million in revenue before the end of the year, from virtual gifting on Uplive.
The partnership should allow Tron, a decentralized content protocol, to establish a global free content entertainment ecosystem with the help of blockchain technology. Users, on the other hand, will be able to publish store and own data at no extra cost.
The joint venture also presents an opportunity for Tron to be one of the first Ethereum compatible protocols that support fast micro transactions at scale, as of the first quarter of next year.
Pantera and Block Asset are some of the initial investors in Gifto that are helping support the platform’s push to help millions of content creators monetize content of social and video networks. According to Andy Tian, the brains behind Gifto, they have created a popular application on Uplive that will be able to generate significant income for content creators.
Gifto will take the exact model to the blockchain space and make it universal across any content creation platform thus making it universal and accessible with any local currency. Virtual gifts distributed across the network will be immutable, universal and independent of any content platform. People will also be able to store them as smart contract assets.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.
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Elon Musk Advises Crypto Users To Secure Their Crypto Keys Properly
The crypto community has not gotten over the fact that the world’s richest man has now invested in Bitcoin and has been pretty active in the industry.
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He also added that crypto investors should not bother doing business with wallets that don’t provide them with private keys.
Users should store their private keys
The unique way cryptocurrencies are stored makes them not redeemable when the keys are lost. Whether the holder stores them with third-party custodians or exchanges, the owner can only claim them when they provide keys to the crypto funds.
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ur welcome pic.twitter.com/e2KF57KLxb
— Elon Musk (@elonmusk) February 4, 2021
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