ASKfm to Tokenize Social Interactions, 215M Users Involved

Top 10 social network goes blockchain

ASKfm announced its decentralized upgrade ASKfm 2.0 claiming to monetize knowledge in all of its forms. It will be initiated by a platform incorporating both massive amounts of information from diverse areas, as well as millions of progressive users. This way, ASKfm claims it has enough expertise to build a knowledge-centered economy for which its users advocate.

One giant leap

ASKfm is currently the largest Q&A social network worldwide, hosting 600 million questions monthly. The coming ASKfm 2.0 aims to transform the platform from the knowledge exchange of today into a concept resembling an online knowledge store. The company states that blockchain technology can effectively reshape access to knowledge and its evaluation. They tokenize interactions within the social media, rewarding people whose answers are well-received and demanded. This way, they claim, expertise gains intrinsic value and serves as a centerpiece for the new economy.

The way to sustainability

The company has been framing a blockchain solution a long time, and they're finally presenting it. Maxym Tsaryk, CEO at ASKfm says:

"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, as without it, the product wouldn't be able to exist. Blockchain opens a path to democratic environments, to self-regulating economic models governed by market laws and mechanisms. We do not see the future for ASKfm, technologies and social networks without blockchain."

Open for participation

215 million of existing ASKfm users will have the option to switch to ASKfm 2.0, register a wallet, and receive tokens for that. The community, as usual, will also be able to take part in the upcoming ICO event during the year. In total, the social media plans to sell $100,000,000 worth of tokens.

According to the company, its private sale is already ongoing with minimum amounts starting from a million dollars. The dates and terms of the crowdsale are yet to be determined. The broader public can currently only apply for the whitelist. For that, ASKfm launched a dedicated website. To read more about ASKfm 2.0 and request participation, please visit askfm.io

SOURCE ASKfm.io