WatchUGot — A Decentralized app for Social Media Challenges (GoFundme meets the Ice Bucket Challenge)
What would a platform designed to support viral challenges like the “Ice Bucket Challenge” look like?
WatchUGot has made one for Android and iOS, now they’re launching a blockchain platform and setting it’s sites on an Initial Coin Offering (ICO) for their WUG tokens, in order to raise funds for business development and scaling their gamification model.
Fixing viral challenges
When the world thinks about viral internet challenges, it’s almost impossible not to think of the now famous, “Ice Bucket Challenge”. In 2014, the challenge that took the internet by storm helped to raise over $220 million for ALS research. However, lack of a single use platform to both post the challenge videos, and donate to the cause left many wondering how much more money may have been left on the table.
Fast forward to 2018, where two entrepreneurs have taken the concept of raising charitable money through internet challenges, and transformed it into the next generation of social media. WatchUGot is the first blockchain based social networking app designed to be a single medium for individuals to post internet challenges, participate in internet challenges, and most importantly, donate to the charitable causes that may be associated with those challenges. With the noble dream of marrying viral internet challenges with donating money to charity, WatchUGot has grown quickly since it’s inception in early 2018, and is now looking to raise funding through an Initial Coin Offering (ICO).
Entrepreneurs who are innovating decentralized crowdfunding campaigns
Working with blockchain and cryptocurrency experts, the WatchUGot team started to develop the idea of introducing cryptocurrency into their platform in May of 2018 with the idea of making charitable donations through the platform as easy as possible by introducing an in-app currency called WUG Token that anyone could obtain both in the app, and through secondary markets. After extensive market research around the idea of in-app currency, as well as adding a gamification feature to WatchUGot, the team began to develop WUG Token (or WUG for short) on the Ethereum blockchain, and start the necessary preparations for their ICO.
What sets them apart? They already have a live MVP
(minimum-viable-product: iOS - App Store or Android- Google Play)
Structuring their ICO:
Utilizing software and industry partnerships with Trust Wallet and Truffle Framework the team prepared and published their ICO white paper in August of 2018. As part of the ICO, 1 billion WUG tokens will exist in total, with WatchUGot be making available 100,000,000 WUG tokens during the ICO. During this period, 40,000,000 coins will be offered at a discounted price during the Pre-ICO period, starting January 4, 2019, and the remaining 60,000,000 coins being offered during the official ICO period from February 1, 2019 — March 8, 2019. This ICO will be available to anyone located in participating countries (ICO will exclude the US, South Korea, and China) as the team seeks to raise $8 million in funding via the ICO. If the $8 million goals is raised, additional tokens will be available for purchase on secondary markets at a retail value of $0.15/WUG.
VISIT THEM HERE: WATCHUGOT
For more information on this ICO or to read their white paper see their website at; https://watchugot.co/
