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Sharpay ICO Review

26 april 2018, 01:35

General Idea

Sharpay came up with a very unique idea of creating a "multi-share" button aimed for projects and sites that reward the users with cryptocurrency for promoting the content. The sole idea is very simple. An user shares the content like he would do with any other regular plugin or add-on for sites. However, this time he will be awarded with tokens for his contribution.

Sharpay ICO Review

Idea of multisharing

The developers have noticed that social media platforms have become a very important parts of our lives. Most of the marketing campaigns and advertising are happening there, as the reach and amount of people that see such content is enormous. Users with millions of followers are able to promote products and services much more effectively than any advertisement would. With over 3 billion people using social networks the advertising spending is expected to grow even up to $50 billion in 2019.

Sharpay ICO Review

Multisharing is an opportunity to share the content in several networks in one click. Sharpay have developed a customizable button that can be easily added to any site or toolbar. The actual features are hidden in the code, therefore you can design and adjust the look of the button or the panel, however you like so that it fits the site in the best possible way.

Benefits for users

In order to encourage users to promote interesting content and use the "share" button much more frequently, every time they share content to their social media pages, they will get a small reward in cryptocurrencies, which can be exchanged for regular fiat money. Moreover, the rewards can be adjusted based on the reach or unique site visits through that shared link. Which means, the more active the user base is, the more money they can earn. Sharpay will simply help socially active users to monetize their popularity and position by earning cryptocurrency.

Benefits for site owners

Users tend to share only particular content that their enjoy and it may be hard to encourage them to promote the site or product more frequently. However, by offering them a potential reward for their work, they can become active promoters for the project. And while shares from regular smaller users may not have such a significant reach, influencers are able to get to millions of people.

Sharpay ICO Review

The sole button and technical part can be easily integrated to any website and doesn't require any demanding adjustments or preparations in order to work. Moreover, it has also built-in features that may benefit the site like statistics and targeting, which can help the owner to keep track on what type of users visit his site. To avoid abuse and any potential extortions of the system, there is a mechanism to protect against bots and advertising fraud. It can simply limit the number and size of multisharing paid per the day, week or month.

The Token

Sharpay Token will be used as the primary payment option within the system. The site owners will buy the tokens and later distribute them to the users for sharing the content. They are Ethereum-based with the ERC-20 standard, which means they can be stored in most of popular Ethereum wallets like MyEtherWallet or Parity and MetaMask just to name a few. The planned emission of the token is set at 4 billion. It's also interesting that Sharpay plans to reserve 90% of revenue to use for a buyback program in order to help to secure the price of the tokens.

ICO Phase

Sharpay ICO Review

The main ICO phase is scheduled to be running from March 1 to May 31, 2018. There was already a successful presale phase, which gathered many interested investors. However, there is still an interesting bonus available for early buyers, as investors who decide to buy the tokens during the first weeks of token sale will be able to get more coins for the same price. The minimum crowdfunding target for the project is set at $3,000,000 and has already been successfully raised.

The Team

Sharpay ICO Review

The team consists of very experienced members. They have got few patents filed, also when it comes to improved content sharing ideas. A technical part of the project is in the hands of few experienced and skilled blockchain developers, who have worked with international companies like Skoda, Bosch, Ulmart or Qualcomm. The advisory board is also a strong part of the team with three blockchain specialists who have worked with and reviewed many ICO projects previously. They have a good knowledge of the cryptocurrency market and will be able to guide the project when it comes to trends, regulations and problems with blockchain-based projects.

Final Thoughts

The sole idea of the project is very simple but may turn out to be even revolutionary in a way. It's known that social media have developed to the point of being a leading platform for any potential advertisements. Influencers with lots of followers are very valuable for companies, as they are able to reach the customers much more efficiently. Development of a neat share button that works with all of the popular platforms like Facebook, Twitter, Reddit, Tumblr or LinkedIn, VK and Weibo, as well as the fact that users get rewarded with tokens that have actual worth, can greatly contribute to the potential success of Sharpay. The project seems to be prepared very well when it comes to technical details, as well as site design or content of the documentation and whitepapers. Everything is transparently provided to the users and potential investors

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