A New Take On Your Favorite Platform

May 8, 2018 · 3 min read

ASKfm Announces Tоkеn Sаlе

We are pleased to announce that we will be launching a token sale and moving to a blockchain platform. By monetizing our content, we are transitioning from a Q&A social network into a new and revolutionary knowledge economy.

With over 215 million users worldwide asking over 600 million questions a month, ASKfm has a significant foundation ready to build upon.

What is a token sale?

Tokens (otherwise known as cryptocurrency) are a form of decentralized and paperless money. In other words tokens replace cash (otherwise known as fiat currency) for online transactions and exchange of value.

Cryptocurrency is powered and managed by blockchain technology. The blockchain is primarily a way to keep track of token transactions, but can also be customized via smart contracts for other types of information, making it practically perfect for the Q&A format of ASKfm.

The initial sale of tokens is called an ‘Initial Coin Offering’, or ICO for short.

Why is ASKfm launching a token sale?

The most important part of this token sale, both for the platform and its users, is that it will raise the funds necessary to continue to plan, build and implement a new revolutionary platform. The upcoming platform upgrade with the “code name” ASKfm 2.0 aims to gradually introduce the new concept of the so-called knowledge economy to the existing ASKfm user community.

ASKfm 2.0 will offer a more advanced, rewarding and varied means of interaction with users being part of a knowledgeable community that is set to grow rapidly.

How does a token sale benefit current ASKfm users?

By “tokenizing” the platform, we will attract high profile users (what we call ‘power users’) with the ability to share knowledge amongst our community of users. Celebrities, influencers, athletes, photographers and other subject matter experts will have strong incentives to become a part of Askfm by answering questions, and participating in Q&A threads. They will receive monetary reward for their interactions. With this new level of incentivisation, we anticipate welcoming a whole new level of interaction with people whose thoughts, opinions and ideas users really care about.

Additionally, the blockchain technology makes it easier for current users to participate in Q&A sessions, including seeking advice, offering opinions, and responding to the opinions of others. This sort of platform shift places value on contributions from average users and power users alike.

How would it work?

The ASKfm token sale is scheduled to launch later this year. At that time, all eligible existing 215 million users will have the option to switch to ASKfm 2.0, register a “wallet”, and begin to participate in the future knowledge economy — earn tokens for answering paid questions and spend them on asking power users paid questions and on other paid features.

The Future

The value of ASKfm lies it its data: we know data has value, and we are excited to give users questions and answers the value they deserve through this ICO.

Changing the infrastructure will in no way change or alter the existing data. It will, however, be easier to access, easier to contribute to, and easier to share.

As we continue to move forward with this vision for the future, we will send regular updates and more specific details on product development, features logics and pending improvements. We will make official announcements directly in our main ASKfm social networks, as well as through dedicated ICO-related channels for ASKfm 2.0:

Telegram ENG: https://t.me/askfmico

Telegram RU: https://t.me/askfmicocis

Telegram ICO Announcements: https://t.me/askfmicodaily

Facebook: https://facebook.com/askfmio/

Twitter: https://twitter.com/askfmio

Medium: https://medium.com/@askfm_2.0

Reddit: https://www.reddit.com/r/ASK_fm/

ICO website: https://askfm.io/

Read our official press-release here: https://about.ask.fm/askfm-prepares-launch-private-token-sale/

Stay tuned for more updates!

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