All the social media platforms that distribute a part of their revenue among users fail into the same trap.
The users will start using the platform because of the opportunity to get paid,not because they like the platform or the content.This would lead to a low level of real user engagement and this is something advertisers don't like,which makes me think that no big advertiser will gonna pay for ads.
Good luck with your project,OP.
Trying to find out on the answer of OP regarding into this insight and also that Newbie above posting up positively and talking about ICO seems really obvious.
Lots of projects tends out to try this idea but most of them do failed up.
Trying to follow up those successful ones isnt bad and giving out some payouts or free on initial set-up isnt bad but should really be temporary and as been said this would only
lead for people to get in because of such monetization or benefit not purely on engagement.
We respect the feedback coming from the seniors in this group. It is very valid that execution is the key for Fotto to succeed.
As a founder of the company that is Singapore based, I am MIT certified in Financial Technologies and is supported by an excellent team to make things happen.
The below is our thought process.
Apart from the
https://fot.to , our company has so far worked on proving provenance, preventing financial fraud and atomic swaps to name a few from our Blockchain portfolio.
To be transparent to the community, our company's name is Kratos Innovation Labs based in Singapore. We have implemented our solutions mostly for enterprise customers and are revenue positive now.
Although, Fotto may have a chance to start an ICO and raise funds, our thought process is to use Blockchain technology for proving the user is actually an user and not a bot. We further want to use Blockchain tech to bring transparency into the Advertising revenue distribution to the community. Tokenisation is only an option, however, we can also execute it using fotto reward points that get burnt once exchanged for merchandise.
Looking from a brick and mortar model, Fotto is actually an additional channel for advertisers (small and big) to buy Advertising spots in the Fotto network. The disruption we want to bring here is that most of the revenue generated (above 50%) from Fotto network shall be distributed transparently using Blockchain technology.
When the users increase, ML and AI algorithms shall be used to measure the social engagement of the users and to avoid plagiarism.
Again, Fotto network may not be suited for all the customer base.
We are targeting millennial who are more mobile savvy, spend at least 2-3 hours on their phones browsing social media sites.
During a survey we did with college students, they prefer getting gift cards or an option to purchase merchandise instead of tokens or dollars. For them, they would be happy to use, for example, a Starbucks gift card to buy their favorite mocha than to answer their parents how they got the dollars.
We want to respect user's preferences and privacy. Blockchain is a good candidate to respect GDPR and other compliance requirements. Only when the user gives a consent to see the advertisements, they will be shown. Once the user provides consent to run the ADs, it is a win win for the advertiser as well since the Ad is reaching the right user and not a bot. We can shown significant ROI to the advertisers.
There are lot of other things that we can unlock and that is essentially the magic sauce for Fotto.
As a company, we respect every community members feedback and suggestions coming here. This is very useful.
Fotto is a sincere brick and mortar attempt to start using Blockchain to unlock content monetization.
Say Cheers. Your photo can be monetized.
https://fot.to Interested to contribute, drop a note via
team@fot.to 
