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The platform is in prototype stage, with the release of our proof of concept scheduled for Q4 of 2017, the public beta for 2018 and the fully functional platform in 2019.
It solves the ‘chicken and the egg’ problem that faces all startups, investors want to invest in companies with rapid user growth, yet user acquisition is extremely expensive (with costs increasing exponentially). As blockchain dApps start to be released in their thousands an inevitable drive for mainstream user acquisition will ensue (building unicorns takes many millions of users). RefToken will connect developers with the marketers who will promote their app in a risk free deal as affiliates will only be paid on successful user conversion (e.g. a sale, sign up or deposit).
At a lower level RefToken leverages the ethereum platform to solve issues with the incumbent affiliate platforms. These include: affiliate fraud, merchants withholding or delaying commission payments and restrictive conversion requirements.
Backers and investors in projects will always push developers to grow their user base and generate higher revenues. This is often a harsh wakeup call for technology oriented teams who have little experience in marketing and will need to rely on third parties to execute this function.
The core team has decades of experience in online gambling (on both affiliate and casino sides of the fence), RefToken was conceived bottom up as a solution to real world problems that have plagued the industry for the last 15 years, and will prove to be a classic example of blockchain tech providing an elegant solution to an old problem.
A lot of that additional funding will go to hiring more developers to expedite development. The additional funding will also allow us to add in the following modules to the platform: