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Author Topic: Are they really going to offer $1M Free Token?  (Read 147 times)
mlgblockchain
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June 27, 2018, 05:51:40 PM
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I have found that OpenGift team is offering 5 (m) GIFT tokens worth $1(m) to their community of software developers and entrepreneurs. I am bit confuse. Why does they need a blockchain and a token ? I research about them I found their ICO was launched back in Feb 2018? Why they are offering free token again? Should I try them? Is it a good option?

Source: https://medium.com/@opengift/1-m-in-opengift-gift-tokens-on-offer-for-the-software-developer-community-64e7870da
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justin86
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June 27, 2018, 08:30:53 PM
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Nothing is free, either you will pay something or the token does not worth, $1M might be about marketing and not real. ICO tokens also exist just to fund the project in reality  Smiley

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June 28, 2018, 05:48:23 AM
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They may really be offering that much tokens for the people eligible. What you have to ask yourself though, is who determines the value of those tokens? If OpenGift alone set selling its price, and it cannot be sold anywhere and OpenGift wouldn't buy it back, how exactly do you determine its actual monetary worth? The answer is you don't.

They may very well be legitimate, but I wouldn't expect their tokens to be worth anywhere near as much as they claim on the open market.

You asked the correct question by asking why they would need a blockchain in the first place. They don't. That means it's unlikely to take off, and investing would probably be unwise.

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June 28, 2018, 06:17:57 AM
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I think you should move this thread to the "Altcoin Discussion" or "Announcements (Altcoin)" board.

Btw Don't fall for those ICO scams and don't expose your confidential information just for some free tokens which can create out of thin air.(actually most of them are not worth). Nowadays the thrend of the most ICO projects will abondend their project after collecting user private informations just by saying we don't have sufficient funds. Most probably they will sell those informations for marketing agency. Look at the recent "Rootblochain" project, actually they got big ratings on most of the rating sites. But now they are saying they don't have sufficient funds.
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June 28, 2018, 09:21:28 AM
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I have found that OpenGift team is offering 5 (m) GIFT tokens worth $1(m) to their community of software developers and entrepreneurs. I am bit confuse. Why does they need a blockchain and a token ? I research about them I found their ICO was launched back in Feb 2018? Why they are offering free token again? Should I try them? Is it a good option?

Source: https://medium.com/@opengift/1-m-in-opengift-gift-tokens-on-offer-for-the-software-developer-community-64e7870da
each project requires both business and financial developments, this is a form of the project's seriousness, even though the ico period has ended they should continue to introduce their project to the community
in this case, a campaign is a pretty good alternative
I do not think there is a word "free", they must also be eligible to get token from the project
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June 28, 2018, 11:47:58 AM
 #6

I have found that OpenGift team is offering 5 (m) GIFT tokens worth $1(m) to their community of software developers and entrepreneurs. I am bit confuse. Why does they need a blockchain and a token ? I research about them I found their ICO was launched back in Feb 2018? Why they are offering free token again? Should I try them? Is it a good option?

Source: https://medium.com/@opengift/1-m-in-opengift-gift-tokens-on-offer-for-the-software-developer-community-64e7870da

If you go to Bounties section, you will see a lot of bounties that give more than $1M free tokens. So i think its normal for marketing canpaign that always cost much on plan. But you 1st need to check this ICO is legal or not. Even real project or scam project that also can give much money for marketing campaign, so be carefull.

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June 28, 2018, 12:22:39 PM
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In his form of participation he don't ask you for your eth address to send you  300 GIFTs so i think you get nothing if you join OpenGift company

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July 06, 2018, 02:01:55 PM
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I've happened to be following this project for awhile. One of my favourite dark horses, frankly: poor at communications, better than average at actual business. I've spotted a few misconceptions that arised in this thread, hope I could clarify the things a bit

If you go to Bounties section, you will see a lot of bounties that give more than $1M free tokens. So i think its normal for marketing canpaign that always cost much on plan. But you 1st need to check this ICO is legal or not. Even real project or scam project that also can give much money for marketing campaign, so be carefull.

That's true, but most of these project are at the idea stage, and it's far from evident that those tokens will have any value (quite unikely for most of the cases, to be honest.) In contrast, you can use opengift tokens even today to buy services on their platform.

They may really be offering that much tokens for the people eligible. What you have to ask yourself though, is who determines the value of those tokens? If OpenGift alone set selling its price, and it cannot be sold anywhere and OpenGift wouldn't buy it back, how exactly do you determine its actual monetary worth? The answer is you don't.

I wish the project be a bit more articulative on this, but as far as I inderstood $0,2 ($1M/5M tokens = $0,2 per token) IS a price they are buying (or going to buy) back the tokens. Now when you purchase smth with BTC on the platform the price gets denominated in USD, while developers receive the native tokens. The WP says that developers will be able to sell back the tokens with zero spread, and that means they could set any price in this system (obviousely, it will have a limited liquidity). They simple set price in tokens for which they buy USD/BTC/etc., then they are buying tokens for the same price...

You asked the correct question by asking why they would need a blockchain in the first place. They don't.

I agree that they could probably do the similar thing without blockchain. I would argue that with blockchain they can do it much better. 
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July 06, 2018, 05:17:09 PM
 #9

Some projects simply give out tokens for free for them to earn publicity. No doubt that airdrops can give projects some traction as who doesn't want free tokens?

Do they really need a blockchain and a token? Not for most projects. Some just create blockchain projects because of the hype around blockchain, and just so that they can conduct ICOs. For this specific project though, I really don't know as I haven't done any research on it.

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July 06, 2018, 07:12:41 PM
 #10

most probably it is a cheap token or of no value. Worst, you'll have to pay.
Nope
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July 06, 2018, 08:15:11 PM
 #11

The 1m free token they are offering is part of the percentage of the budget they have allocated to the community to raise awareness. This community promotion can help the project to reach masses than not doing that.
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July 06, 2018, 09:24:14 PM
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It is very unlikely that an airdrop of that size is really worth what they say. They seem to be just putting a random value to their coins.
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July 07, 2018, 04:14:57 PM
 #13

Nothing is free, either you will pay something or the token does not worth, $1M might be about marketing and not real. ICO tokens also exist just to fund the project in reality  Smiley
I would correct you here, not to fund the project but pockets of token creators. Most tokens runs with $0 budget.
People will learn in future, but not yet, still "new token magic" called ico collects its victims.

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July 15, 2018, 12:47:28 PM
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They seem to be just putting a random value to their coins.

That sounds exactly like what the concept of money is.
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July 15, 2018, 12:55:07 PM
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Do they really need a blockchain and a token? Not for most projects. Some just create blockchain projects because of the hype around blockchain, and just so that they can conduct ICOs. For this specific project though, I really don't know as I haven't done any research on it.

What they are building is a quite ambitious Project Management tool which uses the GIFT token in order to organize WBS and keep high-quality projects without leveraging on opportunistic funds/third-party investments.

I understand your preoccupation for the current "crypto-for-crypto" buzz out there, but the use of the GIFT-token is just a simple way to allow clients to select tasks and manage the project, while developers are selected based on the best contribution given and early investors/donors are rewarded based on community engagement and value of the project.

I see this as an application of Game Theory on a large-scale - not as a "yet another crypto-speculation."
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July 15, 2018, 02:02:37 PM
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I have found that OpenGift team is offering 5 (m) GIFT tokens worth $1(m) to their community of software developers and entrepreneurs. I am bit confuse. Why does they need a blockchain and a token ? I research about them I found their ICO was launched back in Feb 2018? Why they are offering free token again? Should I try them? Is it a good option?

Source: https://medium.com/@opengift/1-m-in-opengift-gift-tokens-on-offer-for-the-software-developer-community-64e7870da
why not ?
They do so probably to use for their marketing campaigns. One project that wants to grow is that it really needs a lot of money
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July 15, 2018, 02:11:05 PM
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Nothing is free, either you will pay something or the token does not worth, $1M might be about marketing and not real. ICO tokens also exist just to fund the project in reality  Smiley
Exactly this, this $1M tokens are worthless, i can give you $10M worth word. This word is physocilinaritium. I created this word and its worth $10M, its gift from me to you.
This is essentially what ICO is.

huhhuh18
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July 15, 2018, 09:55:26 PM
 #18

Nothing is free, either you will pay something or the token does not worth, $1M might be about marketing and not real. ICO tokens also exist just to fund the project in reality  Smiley
Yeah, the money might be some allocation for marketing. And by the way the OP said they've alreaddy completed ICO sometime past. If only the money oin tokes ajllocatiron ish worth what's in the arlet then yes, they can share that huge amount, but if not, then that tokens are worthless.

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July 15, 2018, 11:41:48 PM
 #19

The ICO if is still on then the 1M free token is a promise base on the amount of capital raised mostly base on the soft cap of the funds collected from investors.
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