ASKfm to Tokenize Social Interactions. 215 Mln Users Involved

ASKfm – the largest Q&A social network in the world – launches its ICO with an internal token ASKT. It is the step forward to creating a decentralized economy by tokenizing social interactions, the ASKfm 2.0 team has revealed.

The new blockchain based network will provide token incentives for participants. It will help users to be directly rewarded for the content (answers) they create and become influencers by increasing their expert level and answers’ rate gradually.

ASKfm is a Q&A (question/answer) social platform with 215 million registered in 168 countries and maintaining 49 languages.

From the moment when the tokens go into circulation, any user owning ASKT will be able to participate in creating a self-sustainable economy of knowledge.

Your answer is an asset

Any ASKT holder may ask a question and bid a certain amount of tokens. The user being asked either answers the question, or declines.

Right and accuracy of the answer are validated by independent moderators. Hence, each partaker gets benefits: for a juicy question, useful answer or validation. Aside from ideal scheme “question – answer – reward,” the process may include a lot of casual cases which are also being sustained by algorithms and incentives. The point is, users are rewarded for the content they create and independent of advertising revenue.

“We are settling our high-loaded blockchain Q&A platform — that’s why we are introducing a new cryptocurrency token not on a whim but out of conceptual necessity. Blockchain opens a path to democratic environments, to self-regulating economic models governed by market laws and mechanisms,” says CEO ASKfm 2.0 Max Tsaryk.

Pre-sale and Main sale dates are not confirmed yet, still, ASKfm is currently conducting Private sale. The 50% of 2 000 000 000 tokens will reportedly be offered to investors and potential users during the ICO at the initial price of 0.1 USD per 1 ASKT. Those interested in acquiring tokens will be able to find out more about the release schedule and the mechanics of the distribution.

Technically, encouraging people to use the internal token is an unprecedented step towards “tokenizing” society. Potentially, 215 social network users are eight times more than the number of Blockchain wallet users worldwide (from 1st quarter 2015 to 1st quarter 2018).

For now, the project maintained by a team of lawyers, directors and advisors from the UK as well as highly respected blockchain developers from Ukraine, is going through its beginning phase. Further ASKfm 2.0 will move from to a new, high margin business model — Massive Open Online Course market involving gamification-based learning, adds Max Tsaryk.