Let’s face it, pretty much everyone appears to be constantly taking photos of themselves that it is almost at epidemic proportions. So, what Selfllery is seeking to do is to monetize the idea of taking photographs and when you think about our obsession with it, then it does appear to be a pretty good idea for a project that is looking at using the blockchain to its advantage.
But then, how are they planning on running this project? A closer look at their entire approach should provide us with some answers.
What is Selfllery?
https://tge.selfllery.com
The team behind this project have sought to create a new social media platform where images is at the absolute heart of what they are offering. Aside from allowing people to earn from their content, there will also be rewards in the form of cryptocurrency for those that wish to then access premium content on the platform.
The platform is also going to have a marketplace where individuals will use the cryptocurrency to make that purchase with the main emphasis being on buying the content that people have uploaded to their profile. They can also allow people to donate to charities if they wish to do so with the token produced by Selfllery being at the absolute heart of everything.
The Technical Aspect of Selfllery
The key in all of this is the marketplace as well as the way in which users can receive rewards for the number of likes that they receive for their images. They are also free to sell the rights to those shots or content with the transaction taking place on the blockchain and via the use of smart contracts.
Also, users that are seen as being popular can also benefit from adverts being placed on their profile. This is also going to be arranged via the blockchain in the same way as other transactions.
The entire platform is going to be based on Ethereum, which brings with it so many advantages that should make absolutely certain that there are no security issues while it offers that sense of stability that will help the platform to grow quite considerably. Also, the token is going to allow people to withdraw the amounts to any wallet that is compatible with Ethereum which has to be another major advantage since it means there will not be the same restrictions as there otherwise could have been.
From a technical point of view there is nothing different to report. You access it via their website and app with your account then being linked to the blockchain. Everything else then operates as normal regarding the transactions.
The Advantages of Using Selfllery
It should be pretty easy to see where there are advantages associated with the project, with the main one being that it is hoping to really use something that is just so popular beyond even the craziest of expectations. If people become aware of the fact that they can potentially earn money from their photos, then you can see why it could draw them to this platform.
Also, by opening up the possibility of earning via advertising, it could push people into expanding their profile if they know they will be able to earn tokens further down the line. Selling rights to content is yet another way in which the platform should find it relatively easy to expand as it does take it beyond the normal social media platforms that are out there.
The Financial Aspect and the ICO
With the ICO, they are able to accept both ETH and BTC for the project with there being a minimum investment figure of 0.1 ETH which is certainly entirely reasonable for an ICO. There is also both a soft and hard cap in place with the soft cap being set at 10,000 ETH and the hard cap is at 55,000 ETH providing an insight into the value that the team behind the platform has placed on the entire project.
Also, during the ICO, the price has been set at 1 YOU token equating to 0.001 ETH and with a total of 64% of tokens created being made available during this period, then it means there should be ample opportunity to get heavily involved in the investment. There are bonuses available during the ICO as well tied in with the amount of tokens being bought so it is certainly something that is worth thinking about if you plan on going in big with this ICO.
Overall Conclusion About Selfllery and the ICO
Even though running a social media network with the blockchain is not new, the fact that they are selling the entire platform on the premise of earning cash for content should act as a significant pull for people that love to do this kind of thing. Of course, it is going to be slow at first to gain a real foothold in the market, but you cannot fail to see the potential. Also, the team behind it do have some experience in the industry which should bode well for the direction in which this project needs to head.
Furthermore, they are providing different ways to earn money on their network so there will be a certain sense of diversity and rewards for the users helping to build the marketplace and platform together.
Overall, this project has potential, and for that reason it can be worth an investment at this early stage. You can forget about the minimum investment as it is certainly not high enough to be of any concern to most investors. Of course, there is no guarantee when it comes to the success of the project but if they can show that they do indeed pay people for the content, with it then being easy to withdraw it to a digital wallet, then it will make people feel more confident about getting more heavily involved. So, if you believe in social media, and who doesn’t, then this could very well be the opportunity that you have been looking for.
Website: https://tge.selfllery.com
Whitepaper: https://selfllery.com/wp/selfllery_whitepaper_en.pdf