Lack of real purpose is a REAL problem in the industry today. I have no idea who is gonna use all these blockchains that are being launched. Again, blockchain is a feature and people buy products so most of the current blockchain projects are doomed to fail when they run out of investor money.
It’s hard to come up with a business model in crypto so it boils down to creating demand for the project’s tokens and then selling these tokens over time. This is the path that we are taking, at least until we are able to charge for applications.
In the meantime, we are going to drive token growth through our viral features.
Red packets is a feature that we borrowed from WeChat. You can create a QR code using our app and post it anywhere, e.g. plaster it on walls or sidewalks. Scanning the QR code with your smartphone will get you a link to download our app. By scanning the QR code with the app you will try to open the red packet and get free tokens. It’s very important to note that this does not require you to have any tokens in your wallet, it’s free to try to open a red packet!
You may or may not get free tokens every time you scan the QR code since this is random. You can keep trying, though, until the packet is empty. There’s a technical delay of 2-3 seconds every time the packet is opened so we’ll be showing an add (animated GIF?) during this time. The ad can be set by the creator of the red packet.
So red packets should drive growth and spead our app far and find, in addition to creating demand for our tokens. And ads in the read packets should drive demand for the red packets themselves.