Gifto (GTO): Are Virtual Presents the Future of Gift Giving?

Let’s face it: most of the world isn’t really on board with cryptocurrency yet. Sure, there are a lot of people out there who don’t understand the technology while keeping an open mind. But, at the same time, there seem to be steadfast naysayers who think it’s all a big joke. One of the things that people have a difficult time processing is how financial value can be created “out of nothing.” Gifto (GTO) may be the answer to that question for a lot of people in 2018.

Gifto (GTO) just pulled off a great publicity stunt

The team behind this cryptocurrency, which is an ERC-20 token that launched on the Ethereum (ETH) network, just made a public power move that really highlighted the spirit of this coin. It was the sale of something called the Forever Rose, a virtual piece of art that was sold on the Gifto (GTO) platform for $1.0 million big ones.

The story was huge – even making it to CNN Tech’s website. That may be the main reason that this coin’s price is currently 68% higher than it was at the same time yesterday.

The Valentine’s Day art sale saw ten investors divide the virtual flower art into ten pieces of one “rose token.” It can be gifted or sold now, but the point is that an abstract piece of digital art could have real value. In fact, it is (probably) the highest sale for any digital picture in human history.

“People traditionally have valued things they can see and feel. But some of the most valuable things — like love, for example — can be felt but not seen,” the artist, Kevin Abosch, told CNN. “Art reduced to its core essence is about the idea.”

Virtual art and virtual goods are clearly something that big-time investors are taking seriously as profit-generating assets. Even cooler than the sale was the fact that the proceeds from the ten-party sale are going to be given to a program that gives free computer programming courses to youths called CoderDojo Foundation.

This cryptocurrency is ramping up to a launch

This cryptocurrency may have a lot of flash and pop-culture appeal, especially after the art stunt, but it actually has a high-potential product to back it up (and one that will certainly be a big hit with the SnapChat generation).

It is a protocol that enables users to create and trade virtual gifts using smart contract and blockchain technology. It will eventually be a full-blown marketplace where collaboration will be fostered and new markets will develop.

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Perhaps the most useful thing about the platform is that gifts will be able to move across different social media apps or similar platforms – a gift that can be sent as a smart contract can easily be sent via Facebook. That’s going to get a lot of users to want to try it out.

Gifto (GTO) is ready to go mainstream (once it launches commercially)

Especially after this coin’s Forever Rose event that got the attention of CNN, this cryptocurrency is getting some other mainstream media attention:

When there is a working platform that anyone can use, we expect it to get a huge burst of additional media attention – as people start realistically making and sending gifts to each other. According to the roadmap on this cryptocurrency’s official site, sometime between the current quarter and the beginning of Q3 will be the commercial launch of the Gifto (GTO) gift-generating platform.

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gifto.io

That means that we are pretty close to being able to start creating, and the final products can be shared on any social media platform (at least that’s what they’re promising right now).

Are you guys going to be sending digital gifts when the blockchain revolution takes hold?




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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Tim is a graduate of the University of California Los Angeles, where he has a B.A. in Global Studies with a minor in Geography/Environmental Studies. He worked for nearly two years as a Research Associate at a top investment banking software provider. He then began working as a freelance writer, covering stock market news and writing corporate content. He has been investing in and researching cryptocurrency for about a year, and has been blogging almost daily on the topic since mid-2017. Tim has contributed to both LiveBitcoinNews.com and CCN.com.

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