Blockchain Video Platform To Launch 30 bln Token ICO At 3 Satoshis Each
A little-known Italian Blockchain video sharing platform Make It Viral (MIV) has announced an ICO where tokens will sell for three satoshis ($0.000075).
In one of the most plentiful token sales to hit the Ethereum market to date, MIV, which seeks to take on content sharing giants YouTube and Twitch, will offer 30 bln tokens starting July 18.
“The funds raised from the successful crowdsale will be allocated for software development, app development, security, integrated platform wallets, sponsorship, marketing, host conventions, public relations, bounties and other,” an accompanying press release states.
Blockchain-powered content sharing is nothing new, with a range of projects already focusing on redistributing the balance of power in favor of creators by using the technology to cut out middlemen.
In line with this concept, MIV says it wishes to “eliminate some of the lesser liked aspects present in current popular mainstream video sharing platforms.”
“Uploaders will be safe from missing payments from ads affiliations and chargebacks from payments processors,” it continues. “They will also incur fewer fees than traditional video sharing platforms while being able to accept micro-donations.”
An additional 15 bln tokens will be reserved and given away for free to users, while a further five bln will be “allocated to the team.”
The sheer number of tokens perhaps dictates the tiny asking price, which from August 1 will steadily rise to a maximum six satoshis before the sales period ends October 31.