Sphere ICO Review: The future of social networks?
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What is Sphere?
Sphere ICO (SAT) is here to solve a pretty big problem. The company is rather concerned with the current advertising industry, which it considers to be very greedy. The industry of advertising was valued $550 billion and yet, according to Sphere, it keeps slowing down innovation and advancement. Sphere also thinks the advertising companies and especially the giants in that field, abuse the data of consumers in order to tackle the buying incentives as much as possible and maximize the revenues and profits. However, Sphere coin claims that it has come up with a solution to fight against this greedy industry. Sphere ICO wants to allow its users to earn money by being involved in a decentralized social network. Sphere ICO gives a lot of significance to privacy – an important factor that social networks today lack, transparency, and data security. Sphere also tries to free its users from advertisements from various search engines and web marketing, and in case they want to appear on your pages, you will be paid for that by the company that places the advertising.
Sphere ICO allows its users to earn money by being involved in a decentralized social network. Sphere ICO gives a lot of significance to privacy- an important factor social networks today lack, transparency, and data security. The ICO also tries to free its users from advertisements from various search engines and web, and in case they want to appear on your pages, you will be paid for that by the company that places the advertising.
The Sphere platform very much hopes to take the spot of the largest but at the same time the most trustworthy social network worldwide. Along with these goals the company wants to keep its network absolutely decentralized. In this Sphere ICO review, we will try to get a deep understanding of what is Sphere and how it wants to solve this issues very much in details.
Sphere best features
- Immediate listing on an exchange once the launch of the coin has been completed.
- Sphere puts anonymity and privacy first. It offers anonymous transactions all over the globe. It will pay a lot of attention to the misuse of the community data and stop it as much as possible.
- The platform promises to put its users and token holders first, in all situations. It guarantees an excellent user experience along with a very good customer support for those who need it inside the ecosystem.
- Sphere has a cloud server environment, which is segregated. The purpose of this environment is to guard the security system known as cutting edge.
- The system is designed for scalability.
- Sphere does not require people to get verified with their IDs.
- The key to the ecosystem is the Sphere coin. The advertisers are going to be paid for by the Sphere coin as well, which is known as the SAT tokens.
- The community will always be up to date regarding various development etc.
- The owners of data will be the users themselves and they will also be the drivers of the network with the community.
Sphere ICO on social media
Andrew Khong, CEO
He is the Sphere founder gifted in innovation and entrepreneurship. He has overseen the success of Sphere that boosts of 5,000 beta users both in major App stores.
Vidal Herrero, CTO
Herrero, highly skilled in marketing is a freelance software engineer. He also possesses skills in WordPress and C++among others.
Andy Fuhr, Systems Engineer
A graduate of University of Central Florida. He is good in entertainment production. He has studio and field experience which enhance his ability to master the challenges in technology.
- Their idea isn’t unique, Steemit by Steem was also an ICO based on decentralization of social media and granted great success.
- Also, IndaHash, a pretty latest ICO, offered a platform for influencers to connect with their readers and followers, also was a success.
- So, uniqueness isn’t their best quality.
- Their idea is similar to YouTube, as people get paid for uploading content that achieves a lot of views and interaction, just that on Sphere, the uploader gets paid in SAT.
- Rumors say the value of the sphere coin is expected to rise.
- People around the web wonder if Sphere as enough to overtake Steemit.
- The good thing is there is no likelihood of it crashing.
- Consider several other cryptocurrencies in the world, they seem to have borrowed so much from each other but Sphere network stands out.
- The network enables users to reclaim their power by having a say on the platform and with each association.
- This new network is compatible with other technologies in that you can easily download the application on App Stores.
- IndaHash, similar ICO as I mentioned above, was a success as they raised $42,500,000.
- When it comes to Sphere, it depends on the quality of the product they’ll bring the market.
- I cant see a clear reason why the ico won’t be a great success also.
- All team members have a credible social media profiles.
- The company claims to preserve 9% of the token for themselves, thus giving more influential power to the users and the community. This gives more security and trust.
- The SAT token is an ERC20 token, therefore secure and more decentralized.
- Sphere will launch its ICO on 12th February 2018.
- They launched a presale. By now, almost 2500 people invested.
- They offer bonuses according to the number of funds you invest.
- The ICO token price will trade at 20 SATs for 1USD, but the token sale will be limited to a hard cap of 1 billion SAT tokens.
- Tokens that go unsold on the ICO, will be destroyed.
- The token sale is going to trade on Ethereum.
- As soon as the ICO is launched, the tokens are opened to the public for trading and transfer.
- Sphere awarded free 50 SAT tokens straight on registering on the pre-sale stage.
The Sphere coins are known as SAT, which stands for Social Activity Tokens. The total supply of SAT tokens is 1,000,000,000. Once the tokens are over, no more new tokens will be created.
These tokens are going to be used by users or alternatively, they can be utilized in order to fund campaigns or movements for grassroots so that they will be able to reach out to more people. The token will be used to pay the users and uploaders on the Sphere social platform for their interaction and content.
The holders of SAT tokens can use it inside the system to facilitate various transactions within the Sphere social network. This way the whole power is put back into the hands of users of SAT tokens. This is doable as the tokens are created in a way that they are both transparent and safe at the same time. For this very reason, Sphere claims that the holders of SAT tokens can trust one another.
- 1,000,000,000 SAT tokens will be created.
- 65% of the token will be open for the crowdsale.
- 17% will go to the social network platform.
- 1% is reserved for the staff and advisory.
- 9% of the total SAT, goes to the company.
- The token will be used to pay the users and uploaders on the Sphere social platform for their interaction and content.
Sphere Wallets & Exchanges
- SAT, Sphere coins, are ERC20 tokens.
- They can be stored in different Ethereum Wallets which may include; MyEtherWallet, Parity or Mist.
- SAT will be exchangeable on various trading sites right after the crowdsale, Sphere yet to mention specific names.
Q: Why did Sphere choose to launch an ICO?
A: The believe that blockchain has great ability to augment Sphere’s current offerings is the reason for choosing ICO. Raising funds through ICO will fit Sphere’s business model and further its decentralized idea of the social network.
Q: Does Sphere use escrow services for the tokensale?
A: The company withholds buyers funds in the escrow awaiting the launch of sphere network in October and the issue of upcoming ICO. If conditions are not met the funds shall be reimbursed to subscribers.
Thank you for reading. Make sure to stay tuned with us for more reviews and articles!