ACCRA, Ghana, June 21, 2021 (GLOBE NEWSWIRE) — DareToken combines the best aspects of social media with the ROI potential of blockchain technology in a unique way. This revolutionary protocol enables users to earn rewards for all types of online content creation. Users earn DareTokens when they participate in online challenges, games, and more. The goal of the project is to become the premier platform for decentralized and transparent online competitions.
It’s All About FunTech
Most people are familiar with the terms FinTech (financial technology) and Biotech (biotechnology). However, there is another tech sector that has outpaced these two in terms of growth – Funtech. Most people are surprised to learn that Funtech is one of the fastest-growing sectors in the industry but the stats don’t lie.
There are currently billions of online streaming service users with more joining the top platforms daily. Notably, reports put the total expected revenue from streaming service platforms to top $18.7 billion by 2027. Funtech is all about decentralizing this sector and enabling regular users to share in the wealth.
Currently, viral challenges and competitions account for a huge amount of viewer’s activities. Viral challenges can reach millions of views and generate billions in advertising dollars for the platforms they support. However, the average content creator gets close to nothing from this structure. DareToken proposes a viable alternative to the status quo via its token and Dapp.
What Problems Does the Dare Token Attempt to Fix?
DareToken seeks to solve some of the most pressing issues faced by online content creators today. The network integrates blockchain tech, such as smart contracts, in an innovative way that enables anyone to earn rewards.
Dare Token users can host challenges, online competitions, stunts, sports, games, and much more. Users earn from participating in these events. In this way, celebrities, athletes, brands, and influencers can connect with their fans on a new level.
For example, imagine your favorite band issuing an online karaoke challenge. Everyone who joined in the competition could have the potential to earn. Additionally, they gain points just for participating in DareToken sponsored events
DareToken Transparency
DareToken provides users with an unbiased and transparent way to conduct these activities. If you have ever joined a viral challenge, you are familiar that many lack any real structure in terms of how a winner is decided. Events hosted on DareToken will eliminate these issues. The entire process will be trackable via the dapp interface and blockchain explorers.
DareToken Features
DareToken combines some cool features to accomplish its goals. The platform operates as a true peer-to-peer decentralized protocol. The network leverages a community voting system to verify challenge completion and provide unbiased judging for competitions.
Monetize Your Skills
DareToken enables regular users to monetize their talents, skills, and abilities in new ways. You can participate in challenges from your favorite brands and celebrities to earn both rewards and clout in the network. You can also launch your own challenges and go viral.
Crypto Adoption
DareToken’s simplified approach to crypto onboarding is sure to help boost adoption moving forward. The network removes all the technical barriers to joining the market. Keenly, it gamifies the crypto experience which should help drive adoption in younger generations. The integration of fun and exciting activities will help to make the transition into the decentralized economy more appealing to the masses.
DareToken Mechanics
Dare Token is deployed on Binance Smart Chain. This advanced fourth-generation network provides more scalability and functionality than its predecessors. The BSC provides users with lower fees and faster transactions than Ethereum’s blockchain. Additionally, it supports all DeFi features including staking, farming, P2P lending, NFT creation, and liquidity pools.
The core team in their quest to get this to the masses is having a Trio IDO on Unicrypt and Dodo at exactly 7:00am UTC. Trading on Dodo will start immediately after the IDO ends with Pancake Swap listing also following shortly after sale ends.
Create a Challenge and Go Viral
Anyone can create a challenge using Dare Token. These events can include online games, offline bets, viral challenges, and more. DareToken users set up a profile that enables them to launch and accept challenges freely. Best of all, the protocol eliminates human error via the use of advanced smart contracts.
The DareToken system also provides additional benefits based on your overall data such as participation level, predictions, and performance. These rewards can come in the form of discounted fees, tokens, and challenge promotions
Wallet
One of the core components of the DareToken ecosystem is the user wallet. This BEP-20 token wallet serves many functions in the network. Primarily, it enables reward payouts. Users can also send and receive funding using the wallet. Keenly, the wallet permits in-challenge transactions. The DareToken development team envision a day where the DareToken wallet is an integral part of your social media experience across multiple platforms.
Developer Features
Dare Ecosystem is designed to serve as a foundation for next-generation Dapp development. The system introduces an advanced game API that streamlines the integration of DareToken functionality into these networks. In addition to these features, developers intend to have multiple partnerships and create a vibrant ecosystem to support community growth.
Stake Your Tokens
Regular users can stake their DareTokens and secure passive rewards. Staking is an easy way for new users to earn consistent returns. Notably, 3% of all completed challenged fees get redistributed to stakers.
Community Governance
Dare Token holders get to take part in the decision-making processes for the network. Users can vote, fund, and request alterations to aspects of the platform. In this way, the team takes the input from the community to refine the platform and its operations.
DareToken – Positioning for the Future
You have to hand it to the developers behind the DareToken concept. They recognized that the infrastructure and technical capabilities to further Funtech already exist. Now, regular users will get a chance to get their fair share of the online entertainment market. For these reasons, DareToken could see quick adoption as its features go live in the coming weeks.
Media Contacts –
Contact person: Roland Quaye
Company: Dare Token
Email: [email protected]
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