TRON Price Doubles On News of Gifto Partnership ๐จ This article is 7 years old...
TRON Price Doubles On News of Gifto Partnership
3 min read
Updated: Nov. 7, 2019 at 2:31 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Virtual-gifting platform Gifto has recently partnered with TRON, the decentralized entertainment framework on the Ethereum blockchain. The partnership aims to leverage the technology behind TRON to allow for effective transaction facilitation.
Monetizing Content Creation
Gifto, a product of Asia Innovation Group, is still in the early stages but seems set for an impressive future. Its launch was made by Uplive, a mobile device application that has more than 20 million users.
There are currently at least 60,000 content creators on Uplive who are incentivized using virtual gifts.
Gifto, in partnership with Uplive, will make it possible to create, buy, and exchange gifts across other content networks like Facebook, YouTube and Instagram.
In comesย TRON, a decentralized blockchain platform that aims to transform the existing content creation and ownership framework. It places the power back in the usersโ hands by constructing a free global entertainment system on the blockchain. The platformโs users can therefore publish and retain ownership of content for free as well as control its distribution and access.
This Ethereum-based protocol will be the first to implement high-speed, scaled micro-transactions in the first quarter of 2018. This is the technology that Gifto intends to use to its advantage in order to allow its millions of users to operate on the network without unnecessary hitches.
Justin Sun’s Impressive Track Record
The founder of TRON is 26-year old Justin Sun, who has been in the cryptocurrency community since 2012 when he bought Bitcoin for the first time. In 2013, he joined Ripple as Greater Chinaโs Chief Representative.
Sun has been featured in Forbesย Asia 30 Under 30 inย 2015 and 2017. He was the only millennial student in the first classes of Jack Maโs Hupan University for entrepreneurship in China.
Sun’sย vision for TRON is to make it a shared platform for different entertainment systems around the world. This, he says, will bring down the information barriers that stand in the way of effective interactions between apps. Content creators will no longer have to pay the high prices associated with distribution platforms such as Apple Store and Google Play.
TRON Follows Pattern of News-Driven Demand
Cryptocurrencies, in general, have benefited greatly from announcing partnerships with each other over the past few weeks. A few notable examples:
- Stellar announced a partnership with IBM that saw its price nearly double over the previous month
- NEM announced an official WeChat app for the Chinese messaging ecosystem that saw its price jump 141% over the previous 7 says
- Monero announced partnerships with 45 celebrities to accept XMR that led its price to grow 138% over the previous month
