Gifto which is a blockchain based social entertainment platform has recorded transactions totaling to 500,000 on its virtual currency wallet. This makes it among the fastest and largest growing blockchain based projects globally.
Gifto wallet was initially linked with the famous app meant for live streaming, Uplive. The latter, which is owned by Asia Innovations Group (AIG), is a social entertainment application developed for mobile smartphones. It enables developers of content to create, stock and trade their content in a digital gift token form. They send the gifts to their audiences who then trade them, thereby monetizing them. The transactions can be done through the use of the conventional fiat currency or by using Gifto digital coin, GTO.
Good times for Gifto
CEO and founder of Gifto, Andy Tian stated, “These are exciting times for Gifto as we drive the mass adoption of blockchain across social entertainment. We have already reached half a million wallet transactions?.
Tian who also doubles up as AIG?s CEO was optimistic that Gifto would reach a million transactions by the end of 2018. He explained that the app was among the few blockchain based projects that features a real business form as opposed to focusing on the rising value of the coin. The CEO revealed that the firm is planning on expanding the utilization of its coin with decentralized apps meant for charity, business, and gaming.
Back in May, while announcing that it was going to participate in the Super Elections for Tron in June, it also reported it was introducing Giftomon testing phase. It invited 100 users to register for the testing phase.
Giftomon is a game that is based on the blockchain technology. It has risen to become the biggest game globally that is powered by blockchain. It is created using HTML5 which enable gamers to play on almost any device.
The game currently has more than 4,000 users daily compared to around 2,000 for its closest competitor. Since Giftomon players can buy unique game items through GTO, they play a significant part in increasing Gifto wallet?s transactions.
Gifto network is developed to allow the audience to purchase digital gifts, thereby utilizing the same system?s GTO coin.