Digitalization has taken over the world
Throughout the latest decade, as the world has become increasingly digitalized, most of our social interacting is now done through online apps known as social media. More than 3 billion people worldwide use social media, and in urban parts of the world it’s almost considered weird if someone isn’t on social media, that’s how big a part it plays in the modern human life. But with the convenience of being able to connect with anyone anytime, a bunch of inconveniences also follow. As you use social media more and more data is gathered around your every behavior and personal information. Data is such a huge part of the modern world’s businesses, that it has even been called the new oil. Because it is so valuable, social media corporations are making billions of dollars selling your data to third parties, and do you get any of that money now that it’s your data generated by you? No. This is exactly what Sphere is aiming to change, they are creating a social media which shares the revenue generated from your data with you. Besides from that, Sphere is also focusing on providing a secure and private experience for its users, as demand for this is evergrowing, especially following scandals like the one with Facebook just recently.
The Sphere app and SAT tokens
To be a successful social media, an app that satisfies the users’ needs is required. That’s why the Sphere app is going to have a bunch of features so everyone has the option to do exactly what they wish to do. The app will include posts, messaging, blogging, a marketplace for buying and selling, videos, groups, events and much more. Users will get the full social media experience through all of these tools. The most notable feature of the Sphere app is the handling of your data. Through blockchain technology, your data is private and hidden from advertisers who want to use it for targeted ads, but you the user can give them permission to use it if they pay you. This is a fundamental difference between regular social media and Sphere, traditionally your data and information are just sold for the cooperations to profit, but you get zero, on Sphere you get paid. Sphere is issuing their own ERC20 token, the Social Activity Token (SAT), which will be used to facilitate transfers, rewards, and payments on the Sphere platform.
To fund their project, Sphere is raising funds through an initial coin offering (ICO), selling their ERC20 token SAT. This token is going to be an essential part of the Sphere ecosystem as it facilitates deals, transfers and can be used to purchase a range of services within the Sphere app.
The token sale started the 12h of February
The token sale ends the 9th of April
1 SAT = 0.14 USD (Bonuses apply to different phases, see picture below)
- Total amount of tokens issued is 1,000,000,000 SAT
- A maximum of 650,000,000 SAT will be for sale during the ICO
- Hard cap is 40,000,000 US dollars
- Softcap is 1,500,000 US dollars
Unsold tokens will be burned/destroyed
To learn more about the team and their advisors, visit the official website at: https://sphere.social/ or read their whitepaper here: https://sphere.social/wp-content/uploads/2017/12/Sphere_Whitepaper_v1.7.4.pdf
If you find this project interesting and wish to learn more about it or their token sale, you can visit the following links below and read their whitepaper. To keep yourself up to date on the project, you can follow their social media accounts also linked below.
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