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Gifto Partners Tron To Help Monetize Content On Blockchain
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.
Gifto-Tron Partnership
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.
Gifto Prospects
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.
Image courtesy of BTC Keychain via Flickr
BNB price has noted significant gains over the past few days, surging past the psychological resistance of $300. The native cryptocurrency of the Binance Exchange has surpassed Solana to regain its position as the fourth-largest cryptocurrency by market cap. The digital currency has been rallying lately with a 7-day profit of more than 15%. Additionally, BNB has clocked a phenomenal gain of 38% in the month to date.
Binance Coin Outlook
BNB price has been on a strong bull run for the past week, breaking out of its consolidation. Even so, the asset has experienced a correction in its uptrend over the past 24 hours but remains above the crucial level of $300. BNB’s total market cap has decreased by 4% over the past day to $48 billion, while the total volume of the asset traded over the same period dipped by about 15%.
Over the past year, Binance Coin has had to cope with Fear, Uncertainty, and Doubt (FUD) on the back of the regulatory troubles of its underlying exchange. Earlier, the BNB price touched a low of $223.50, a few days after its former CEO, Changpeng Zhao, pleaded guilty to money laundering charges. However, the cryptocurrency has managed to rebound 46% in value since then.
The recent price rally has been associated with various positive developments in the Binance ecosystem, including the Introduction of the Isolated Margin Auto-Transfer Mode. This feature enables…
Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.
SOL Outlook
Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.
The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.
This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…
Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.
Catalysts Behind SOL’s Rally
Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.
The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.
Cited figures provided by DeFi aggregator DeFiLlama…
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