ICO Spotlight | SELFLLERY - The Premier Social Platform For Visual Content Monetization

kryptonaut (57)in #selfllery • 7 years ago

INTRODUCTION

I don’t take many pictures with my mobile phone camera, but I’m smart enough to know that I’m a rare bird. Just how many pictures photos are taken each year? Around 1.2 trillion pictures were taken in 2017.

digital photo statistics.PNG

Facebook was largely mocked for buying Instagram in 2012, but they saw what others could not: everyone can be a photographer with their mobile phones. Mobile phone camera resolution only gets better, and it costs someone basically the same price to take one photo or a million photos. In other words, way back in 2012, Facebook understood everyone were only going to take more pictures and share them. In retrospect, the Facebook/Instagram marriage was as perfect as you can get in business.

Does anyone make any money taking pictures? Yes, but probably not who you think.

Visual content monetization occurs through advertising on web pages (such as Facebook) or via direct sales. Both methods assume commercial use.

On the direct sale side, only the best photos are usually the ones that are bought. To meet strict quality standards, you typically need high end equipment and a team of specialists. On the advertising side, the end users don’t share any of the profits, while the shareholders reap all the benefits.

I’ll concede that you can be an influencer and work your way up to that magical 1 million follower number and score yourself a corporate deal. However, I’m sure those deals are reserved for celebs, models, and those folks that could make a living from their photos.

Enter blockchain technology.

Blockchain makes it possible to make transactions peer-to-peer. This is where SELFLLERY believes that they can support peer-to-peer visual content monetization by adopting blockchain and distributing their token named YOU. Users will receive rewards in YOUs for social activities related to publication and distribution of visual content.

PLATFORM CAPABILTIES/ACTIVITIES

SELFLLERY wants to build a marketplace community that incentivizes each other to be active on the platform. The platform will have familiar features such as “Likes”, followers, and a rating system. SELFLLERY will also use gamification and offer photo contests and photoquests. A photoquest can be a single or multiplayer game in which users are tasked with making photos of certain objects, animals or scenes within a limited period of time. Chosen photoquest winners are then rewarded with YOU tokens.

In addition, SELFLLERY will offer a stock photo gallery where users will be able to submit and potentially sell their photos.

Lastly, SELFLLERY will have a loyalty program where the most popular/active platform users will be rewarded bonus YOUs using a progressive loyalty multiplier, which will increase the total number of YOU tokens received per transaction.

SELFLLERY Business Model

You think a company that adopts cryptocurrency is “free” to use? Think again. SELFLLERY needs to bring in revenue to operate just as other ICOs.

SELFLLERY will charge a fee for the following services:

Sale of products and services in the marketplace
Sale of photos in stock gallery
Advertising campaigns, photo, contests, photoquests
Promotional smart contracts

SELFLLERY will also serve as an AdTech platform for entities that want to promote their products and services through advertising campaigns and cost per action/click/view models.

SELFLLERY Token Model

selfllery token model.PNG

ICO DISTRIBUTION DETAILS

TOKEN NAME	YOU
TOKEN TYPE	ERC-20
ICO START DATE	4 March 2018 (3 weeks)
TOKEN RATE	1 YOU = 0.001 ETH
MINIMUM CONTRIBUTION	0.1 ETH
ACCEPTED CURRENCIES	ETH

ICO PROCEED ALLOCATION

AREA	PERCENT
Product Marketing	50%
Product Development	25%
Operating Expenses	10%
Reserve Fund	10%
Legal Services	5%

ROADMAP

DATE	MILESTONE
Q1 2018	TGE Launch, Team expansion, Marketplace, Advertising module, Photo editing filters, Beta version of iOS app
Q2 2018 & Future	Additional module development, Global marketing campaign

FINAL THOUGHTS

I conducted a search using the following terms “photo cryptocurrency crypto ico” and besides the Kodak confusing announcement , I couldn’t find, or recall reading anything similar to what SELFLLERY proposes. I find that a little odd because I would think there would at least one other ICO that would have proposed something similar. Depending on how you look at it, it can be positive or negative. I’ll let you decide.

One of my criteria for writing about an ICO is picturing myself using the product/service. It goes without saying that SELFLLERY will need a bug-free, easy-to-use, interface and show value. I can see myself using SELFLLERY, but these sorts of platforms really hum if a lot of people 1) Is aware of them and 2) uses it often. SELFLLERY will have the challenge of driving users to their platform and prove that everyone can win by using it. Facebook works because it’s a one-stop shop for non-business type of social media activities. Can SELFLLERY survive as a specialty platform? I think so, but the right conditions need to exist along with a little luck. I would be pleased if SELFLLERY developed a plan to drive influencers and/or celebs to the platform. You get a few and it’s possible that a flood of users will follow.

Overall, I like SELFLLERY’s vision, but the challenge will be building the brand name and a known destination to manage all of your digital photo needs as well as constantly making sure users feel part of a cool community. I think it’s also a good sign that they have a working destination (https://selfllery.com/). Now we have to see if adding cryptocurrency will be a catalyst for growth.

I wish them the best and plan to monitor their progress (as well as become a user). I think you should consider doing the same. There main ICO starts 4 March, 2018.