Wow!: Gift Blockchain Platform GIFTO’s Token Sale Sells Out in 60 Seconds

ASIA Innovations Group (AIG), announced on Thursday the close of gift blockchain platform GIFTO’s public token sale within one minute of opening. The company is now claiming it to be the fastest token sale ever in Asia.

According to AIG, the public token sale opened at 12 p.m. GMT on December 14th and the tokens were quickly snapped up by buyers eager to get their hands on what is shaping up to be Asia’s hottest crypto token for the masses. More than 14,000 supporters applied to GIFTO’s whitelist. Its Telegram group was rated by industry observers as the fastest growing initial coin offering (ICO) community in the world. The company reported:

“The interest in GIFTO was unprecedented, with its private token sale being over-subscribed more than four times. Its subsequent public token sale today closed at 12:01 GMT (8:01 pm SG time), bringing the total amount of sales to just over US$30 million.”

AIG noted that GIFTO, which stands for Gifting Protocol, is a universal protocol that is based on the Ethereum blockchain. GIFTO now offers a self-governing and self-sustaining system for virtual gifts to be created, curated, bought, sent and exchanged across any global content platform such as YouTube, Instagram, and Facebook, among others. The company noted that each of the tokens from the sale can be used to buy these virtual gifts, which any content creator can customize and transact. While sharing more details about the token sale, Andy Tian, co-founder and CEO of AIG, stated:

“We are excited by the overwhelming demand of our tokens. As Asia’s leading mobile entertainment company, we are committed to bringing the best products to our users and this token sale is just the first step to bring blockchain technology and its benefits to the masses in a fun and meaningful way.”

GIFTO is the culmination of AIG’s flagship Uplive live streaming platform’s success. Tian envisions GIFTO to be an enabler for online content creators to monetize their content efficiently. He also shared:

“We wanted to create a platform that will disrupt the traditional ways in which online content creators monetize their work, such as through advertising or sponsorship revenue. Through our GIFTO platform, the 90% of broadcasters who currently see low monetary returns from these traditional methods will now have a new revenue stream through which their fans can directly contribute to them. The success of our token sale is [a] testament to the real world demand for such a service, and we will be using the proceeds to develop and deploy the product to a worldwide audience.”

AIG also reported that the token offering marks its entry into the cryptocurrency space, making it the highest revenue consumer company in Asia to do so. The successful sale positions GIFTO to become the blockchain application with the most users from outside the crypto industry and is the first significant step in bringing blockchain technology to the mass market. Chris Miess, Co-Founder and Partner of token offering advisory and investment firm ICONIC Partners which advises AIG, added:

“The success of GIFTO’s token offering shows that there is a huge market outside of the crypto community that is still new to blockchain technology. The sale of GIFTO’s tokens, which can be used for in a real-world application such as virtual gifting, is testament to the fact that blockchain technology has the ability to positively impact the lives of the general public.”

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