Gifto (GFT) is a decentralized finance solution built to enable blockchain gifting.
For example, Gifto allows users to generate nonfungible tokens (NFTs), e-cards, profile pictures (PFPs), generative art, and red envelopes they can give as gifts. Users can create NFTs, sell NFTs, PFPs, and generative art in the Gifto Store, and receive Gifto (GFT) rewards.
To elaborate, a profile picture (PFP) is an NFT that can serve as a social media profile picture. Profile pictures are the tiny cartoons that represent users on social media. Popular examples of PFPs include the Bored Ape Yacht Club and CryptoPunks.
The Gifto Gifts
Generative art is any artwork they create with artificial intelligence (AI) or an autonomous system. Interestingly, generative artworks can be partially by a human. For example, a person can have an idea for an artwork and tell an AI to create it.
Hongbao, or Lucky Red Envelopes, are the brightly colored envelopes full of cash many Chinese give to friends and relatives during the Lunar New Year. Hongabo resemble British Christmas Crackers.
Red Envelopes are big business in China. Typically, Chinese give 100 yuan (or $20) to children, 500–2,000 yuan (or $100–300) to parents or grandparents, and 100–1,000 yuan (or $20-200) to employees. Hence, hongbao resemble the Christmas bonuses some American companies give.
An Ecosystem for Gifting
Essentially, Gifto (GFT) is an ecosystem for gifting. The Gifto ecosystem contains the Gifto Web3 Wallet, the Gifto Store, GFT Staking Platform, Yield Farming, Charity, and NFT Generation.
The Gifto Wallet allows users to store, buy, trade, and sell GFT and other Binance (BNB) or BNB Chain tokens through Dapps. The Wallet allows access to the Gifto Store. They claim users can trade, buy, and sell assets fast through the wallet using decentralized apps (DApps).
Users can mint, store, and stake NFT collectibles through the wallet. A built-in-system allows users to mint and own NFTs. Creators sell NFT art, PFP, collectibles, and red envelopes. They claim creators can earn GFT rewards for each NFT trade made on the Gifto platform.
They offer Bored Ape Yacht Club, Mutant Ape Yacht Club, Polychain Monsters, Bored Ape Kennel Club, and other popular NFTs in the Gifto Store. An interesting Gifto feature is charity. Gifto contributes 0.5% of the inflation of GFT to Binance Charity.
The Gifto Staking Platform allows users to earn GFT rewards by staking GFT tokens. They plan to create on-ramps to yield-farming applications for GFT through Autofarm applications.
An Ecosystem for Gifting
Essentially, Gifto (GFT) is an ecosystem for gifting. The Gifto ecosystem contains the Gifto Web3 Wallet, the Gifto Store, GFT Staking Platform, Yield Farming, Charity, and NFT Generation.
The Gifto Wallet allows users to store, buy, trade, and sell GFT and other Binance (BNB) or BNB Chain tokens through Dapps. The Wallet allows access to the Gifto Store. They claim users can trade, buy, and sell assets fast through the wallet using decentralized apps (DApps).
Users can mint, store, and stake NFT collectibles through the wallet. A built-in-system allows users to mint and own NFTs. Creators sell NFT art, PFP, collectibles, and red envelopes. They claim creators can earn GFT rewards for each NFT trade made on the Gifto platform.
They offer Bored Ape Yacht Club, Mutant Ape Yacht Club, Polychain Monsters, Bored Ape Kennel Club, and other popular NFTs in the Gifto Store. An interesting Gifto feature is charity. Gifto contributes 0.5% of the inflation of GFT to Binance Charity.
The Gifto Staking Platform allows users to earn GFT rewards by staking GFT tokens. They plan to create on-ramps to yield-farming applications for GFT through Autofarm applications.
What Value Can Gifto (GFT) Obtain?
Speculation in Gifto is a bet on the NFT market. NFTs are a growing market that is smaller than you think. Statista estimates NFT revenues can grow to $3.546 billion in 2023 and $8.068 billion by 2027.
In detail, NFT revenues grew from $16.18 million in 2020 to $1.574 billion in 2021 and $2.461 billion in 2022, Statista estimates. NFT revenues could grow to $3.456 billion in 2023, $4.735 billion in 2024, $5.96 billion in 2025, $7.123 billion in 2026, and $8.068 billion in 2027.
The average buyer will spend $70.46 on NFTs in 2023, Statista projects. Average NFT revenue per user grew from $24.04 in 2020 to $34.57 in 2021 to $55.56 in 2022, Statista forecasts. The amount the average user spends on NFTs could grow to $70.46 in 2023, $85.01 in 2024, $100.30 in 2025, $114.10 in 2026, and $125.20 in 2027.
There were only 67,000 NFT users in 2020, Statista estimates. That number grew to 36.12 million in 2022 and 44.29 million in 2023. Statista forecasts the number of NFT users could grow to 50.33 million in 2023, 55.7 million in 2024, 59.45 million in 2025, 62.41 million in 2026, and 64.45 million by 2027.
The United States is the largest market for NFTs. The US NFT market could grow to $1.005 billion in 2023.
What Value does GIFTO (GFT) offer?
Mr. Market has a strong interest in Gifto (GFT). For example, GFT was CoinMarketCap’s sixth most trending cryptocurrency on 12 February 2023.
CoinMarketCap gave Gifto an 11.49₵ Coin price, a $114.790 million Market Capitalization, a $116.487 million Fully Diluted Market Capitalization, an $87.225 billion 24-Hour Market Volume, an $87.230 million Centralized Exchange (CEX) Volume, and a $25,883 Decentralized Exchange (DEX) Volume on 14 February 2023.
They base those numbers on a 999.272 million GFT Circulating Supply and a 1 billion GFT Total Supply. Gifto was CoinMarketCap’s 243rd ranked cryptocurrency on 14 February 2023.
In contrast, Gifto was CoinGecko’s 264th ranked cryptocurrency with an 11.46₵ Coin Price on 14 February 2023. CoinGecko gave Gifto a $114.587 million Market Cap, an $85.623 million 24-Hour Trading Volume, and a Fully Diluted Valuation of $1114.587 million. They base those numbers on a Circulating and Total Supply of one billion GFT.
I think Gifto (GFT) is a DeFi token that could make money if the NFT market keeps growing. However, I think NFTs will need to be more than just a fad for Gifto to accrue enormous values. Thus, I think speculators need to watch Gifto, but stay away from it until the NFT market grows to over $100 billion.
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