Consentium: A Fresh ICO

As written by Keong Sing Wei, 10 Jun 2018 that can be viewed here!

Consentium is a chat application that rewards users with cryptocurrency for any creation of groups or community. There are many similar apps out there such as WhatsApp or Telegram, even similar crypto projects such as KIN. Hence, what is Consentium’s discerning factor amongst all the competition?

Consentium offers rewards to users based on their creation of quality community groups and the reputation of the users. In simpler terms, users are rewarded based on the effort they put in to enhance the conversation. This means that creating spam groups or having “zombies” in your community would not benefit you at all. Instead, group creators will be incentivised to create quality conversations, unlike the typical “How’s the weather today?”. Depending on the group’s purpose, they will be having more quality conversations that would engage their users.

How you make money

Looking at their monetization model, there is a 1% fee for every cryptocurrency transfer using the Consentium platform and this fee will be borne equally by both receiving and sending parties. This 1% fee will then be redistributed and reward its users.

Sustainability & Growth

In terms of sustainability, Consentium aims to monetize their marketing, stickers and bots functions of their application. This strategy would allow free downloads and increase Consentium’s customer base on a large scale which would in turn bring more profits through their monetization plans. Moreover, their first year of operations would involve heavy marketing to bring in a larger customer base. At the time of writing this article, Consentium has a Telegram Group of over 19,000 members.

For Consentium’s growth potential, Consentium is working on expansions plans to Japan, South Korea and China which are largely populated countries. This brings about a huge opportunity for Consetium to build a strong network and bring about a huge influx of customers into their application.

According to their roadmap on https://consentium.net/, their Consentium application should be released in 2018 Q2 which would be something you should look out for!