ASKfm Prepares To Launch Private Token Sale
RIGA, Latvia, May 3, 2018 – Rumors have been popping up all over the web, but now it’s official. Popular question-and-answer platform ASKfm is kicking off their private token sale event, in anticipation of the new blockchain powered ASKfm 2.0 platform scheduled to launch later this year. In their constant efforts to create a fun, informative experience for over 215 million users across the globe, the team at Ask.fm has identified blockchain as its most viable path towards its newest ambitions. Funds raised by investors in the private sale, pre-sale and upcoming public token sale will be used to develop and nurture the new platform.
ASKfm 2.0 represents a unique opportunity for potential investors, who are rarely given a chance to invest in concepts that are already this robust and mature. At the time of the sale, ASKfm will be 8 years old, boasting users in 168 different countries, with over 600 million questions asked every month. These users come to ASKfm to express their identity in a conversational way, either resolving their own personal queries or by adding their expertise to discussions where it’s in demand. This proven formula has made ASKfm the largest Q&A social network in the world, but it has recently identified a method to improve its value proposition and invest further in the experience of its users.
One of the most pertinent reasons to integrate blockchain is to rebuild the company’s revenue model and take it from its largely advertising-based origins. The blockchain model in development by ASKfm will allow the company to create a more vibrant community with higher quality answers and increased transparency. The company is planning to leverage their new model, which rewards notable responses and interaction, to bring other supplementary benefits to its users, such as social development and educational enhancement. ASKfm’s Q&A platform has already proven effective at breaking down communication barriers among young people and improving the knowledge of its many users.
The next phase in the company’s ASKfm 2.0 initiative will be to move into the realms of an online marketplace. This will include enabling members to ask questions or present surveys to their peers and rewarding them for answers, as well as creating other unique opportunities, including the ability for parents to present educational challenges directly through the platform with rewards for completion. Essentially, ASKfm seeks to develop a social growth network that gives users a place to engage within a safe environment, practice interaction, develop their communication skills and earn rewards for taking part of a thriving community, thanks to a full-scale internal economy.
There are fewer things more valuable than the right information delivered to the right person at the right time. Blockchain’s digital ledger will demonstrate this concept in ASKfm 2.0, which can help users in need of an answer find the people most qualified to help. It also directs experts towards discussions where their knowledge is in more demand. The platform’s token provides an incentive to experts, professionals, opinion leaders and others from around the world, who will surely jump at the chance to monetize themselves and therefore be the catalyst for an exploding population of users. In turn, those who use the token and earn it become stakeholders in ASKfm 2.0’s success.
Maksym Tsaryk, CEO of ASKfm, stated:
“ASKfm is building a decentralized economy around the value inherent in social interactions, and tokens are the lifeblood of the new system. To make our blockchain Q&A platform a reality, we’ve introduced cryptocurrency not on a whim, but out of conceptual necessity. This project has been in the works for years, and its eventual transfer of 215 million people into blockchain represents the single biggest mass introduction to the future, ever. Blockchain opens a path to democratic environments and self-sustaining economic models governed by market laws and mechanisms like supply and demand. Knowledge evaluation is possible within conventional systems, but for it to be fair and independent, we built it on the blockchain.”
Investors in the yet-unannounced pre-and-public sales can be encouraged by the viable model being built, but also by the degree to which ASKfm has gone to ensure compliance. The company currently owns two registered entities in Ireland and Latvia, as well as trademarks and other intellectual property, and is working tirelessly to remain in good standing with all relevant regulatory bodies.
ASKfm’s 2.0 plans has already sparked a wide range of interest, with blockchain enthusiasts across the globe eagerly anticipating further announcements on the public sale. Private sale investors have until June to decide how ASKfm fits into their portfolio, at which point they’ll likely need to get in line with everyone else to capitalize on this new model of knowledge provision.