They are creating a decentralized social network, separate from those corporations, that allows exactly that. You have a say, you get compensated, and above all, you take back the power with every connection and every interaction.
Sphere is so much more than another simple addition to the growing line of social media networks available. It is the beginning of a digital revolution.
Aptly named Social Activity Tokens, or SATs for short: this brand new form of cryptocurrency can be used for a wide variety of uses and can even be utilized to fund grassroots campaigns and movements, allowing them to reach more people and larger audiences.
To celebrate the launch and welcome the coming digital revolution, Sphere is holding an open offering to all those ready to join something special and different. This special occasion, only available now, will set the precedent for the entire value of the SATs. And once it’s over, no more SAT tokens will ever be produced.
Consumers’ demand for better privacy and data protection has created a demand for a service that puts control, profit, and privacy back into the hands of the consumers. They are poised for yet another great disruption in marketing and advertising.
The old and increasingly ineffective method of advertising will come to an end. The old way will be replaced by the next waves of innovation. At the forefront of the wave, Sphere has positioned itself ready to disrupt the old process. They will create more transparent and open methods for conducting business in today’s global market.
Sphere’s innovative technology creates a scalable, anonymous, and secure social network utilizing large amounts of data while still ensuring privacy.
SAT is a digital currency designed to be used within Sphere – a new, private, and secure social media platform that offers an integrated, decentralized market, complete with its own advertising platform.
WHAT CAN YOU DO WITH SAT?
- In-system tokens to be used by consumers
In addition to the benefits laid out in this paper, Sphere is introducing an innovative incentive program for consumers using tokens. These Social Activity Tokens are used throughout the system in order to facilitate transactions within the social network
- Put the power back into your hands
SAT tokens are crafted in such a way that the entire process is secure yet transparent. This process leads to a greater sense of trust within the system
- They have a strategic plan that puts our users and token holders first. They have a segregated cloud server environment that is safeguarded using cutting-edge security systems.
- They will offer a superior user experience and superior customer support for the users in our ecosystem. Our team designs the system for scalability.
- They offer anonymous transactions globally. Because they do not transact with banking institutions, they do not require ID verification. Everything is done using digital currency.
- They have an experienced and capable team that can manage complex technologies and business challenges.
Sphere has plans for creating a fully functional advertising portal. The advertising portal will allow users to create ad pieces that will be displayed in the Sphere news feed. Advertising space will be paid for using SAT tokens. There will be per-click and per impression options, with costs deducted automatically from the advertisers’ web wallets.
Sphere Social’s plan is to allow our users to sell their data on their own terms, as much or as little as they wish. They intend to make use of this system in our growth strategy; they expect to be able to achieve rapid growth by incentivizing users to submit their data.
They will work to spur further growth with a referral program to encourage existing users to invite their friends. Instead of aggregating data unanimously and indiscriminately, the opt-in data sharing system will allow both users and advertisers a more accurate and pleasant means of communicating market demographics, product placement, the issuance of goods and services, and etc.
For example, a user wishes to opt-in to monetize their data in order to identify better crypto deals – the users who are selling crypto would have to buy the information the first user provides if they want to sell to that user’s specific demographic.
Everyone who opts into the system would then have the incentive to share their data – because they would not only be paid for their information – but will be offered (provided there is a supply in the market) whatever goods and services the advertisers are providing.
They have observed many of our users testing out the shops- creating, customizing, submitting, and deleting them. These are all positive signs of a future active marketplace. Based on data gathered from 22 October 2017 to 30 January 2018 – they have over 45 thousand users on the Sphere Social app. This is the amount of activity on the app up to that time:
- Number of Users = 45,027
- Number Blogs = 1273
- Number of Photos = 27,326
- Number of Videos = 606
- Number of Discussion Topics = 250
- Number of Groups = 384
- Number of Events = 21
- The number of Currently Submitted Stores = 70.
DISTRIBUTION OF FUNDS
A total of 65% of available tokens will be made accessible to buyers through the ICO. They’ve reserved 1% of all tokens for our team and advisory staff. Another 17% will be reserved for the social network development. 9% will be reserved for the company.
The budget outlined below presumes a scenario where our minimum cap of $1.5 million has been reached. Additional funds raised after the minimum cap will be used to add additional features to the application, API development, research, marketing and overall growth of the platform. Funds raised from the ICO will be distributed as follows:
Marketing & Promotion: 15%
Name of token: Social Activity Token
Token Standard: ERC20 Standard
Role of Token: Utility Token. Use of purchase goods and services on a social media platform
Total supply: 1,000,000,000 SAT
Available token for sale: 650,000,000 (65% of supply)
Emission: All unsold and unallocated tokens will be destroyed, and additional release of tokens will not be possible
Period of Sale: 12 February 2018 UTC 21:00 to 9 April 2018 UTC 21:00
Cost of 1 SAT: $0.14
Soft cap/Minimum Goal: $1.5 million – soft cap goal reached
Hardcap/Maximum Goal: $40 million
Accepted currencies: Ethereum, Bitcoin, Litecoin, Dogecoin, Fiat
Any unsold tokens will be destroyed. Whatever is left will constitute the total supply of tokens.
Read more: whitepaper