Love Is All Around Us On The Blockchain With Love Token – ICO Review

4 months ago kakp2 Comments Off on Love Is All Around Us On The Blockchain With Love Token – ICO Review

Love is all around us, as the song goes, and has been for millions of years, if the legends are to be believed. We all seem to need it, but just as the air we breathe, we just can’t see it.

And so this pervasive and vacuous feeling of nothingness has even found its way into the blockchain, as one new ICO (of sorts) would have us believe.

The Love Token is a new initiative to spread love worldwide through the blockchain.

[embedded content]

Love Token: send your feelings down the blockchain pipe

The Love Token project appears to have originated on Valentine’s Day 2018. The overwhelming buzz of positive feelings on the day inspired the developers to create a token to mark and celebrate the commercially-designated love day of the year.

And so the Love Token came to be.

This project intends to spread the love across the blockchain, rewarding those who love more than others.

There is no ICO per se, although the company says that they may carry one out in
the future.

The LOVE token

The company will issue its own currency, the LOVE token, which is based on the ERC-20 standard.

The apparent purpose of this token is to ‘reward love’ among members of the
crypto-community. By accomplishing certain tasks, such as Acts of Random Kindness
– as quoted from their white paper – community members will receive LOVE tokens. What these acts are or entail is not specified.

The developers say that tokens will be given manually first – no pun intended – but
an automatic process will be implemented later on, to decide whether the (community) member did well enough to deserve a token.

Once created, the LOVE token will be distributed as follows:

  • Development – 10%
  • Marketing – 15%
  • Advisors – 5%
  • Ambassadors – 5%
  • Bounty program – 20% (Or as much as the community claims)
  • Raffle – 20%
  • Partnership – 5%
  • Exchange listing – 5%
  • Founders & team – 5%
  • Reserve – 10%

The LOVE raffle

Love as a tradable commodity, while innovative and as avant-garde as it comes, it’s a somewhat peculiar concept.

This ICO will carry out a raffle of LOVE tokens, which will work on the basis of giving a certain percentage of LOVE tokens back to the ten largest contributors.

The raffle mechanics work by rewarding each place a percentage of the total money received in contract:

First – 5%
Second – 4.5%
Third – 4%
Fourth – 3.5%
Fifth – 3%
Sixth – 2.5%
Seventh – 2%
Eighth – 1.5%
Ninth – 1%
Tenth – 0.5%

There will be other LOVE rewards given out to raffle participants.

The team

Learn about the Love Token team here.

Social media presence and digital footprint

Here are the numbers for Love Token at the time of writing (mid March 2018).

  • Twitter – 415 followers
  • Facebook – 37 followers
  • LinkedIn – 9 followers
  • Telegram – 310 followers
  • Instagram – 14 followers
  • YouTube – 15 followers

The social media community does not appear to feel the love for the Love Token at
this particular point in time.

Competition

While the real world may be awash with love-struck denizens, the blockchain is, as of yet, almost entirely devoid of such feeling.

There are other ICOs out there that borderline touch on the subject, albeit from altogether different perspectives. Love Token is, as of today, the first ICO to offer tokenized rewards for love-related actions.

White paper

Consult Love Token’s white paper for more information about the platform, additional
features and services, etc.

Conclusion

Trading love treads a fine line between cuteness and uber kitsch. The idea of a
blockchain-based token to do just that may strike a funny bone in most people, who may think twice about participating in this ‘experiment’, as the developers deem Love Token to be.

[embedded content]

The proposition is unclear and somewhat diluted amidst bad grammar and a
poorly-written white paper, which raises questions about the seriousness or validity
of the whole thing. Truth be told, it feels like an end-of-term project for seventh-graders.

We’ll check in on Love Token again in due course.

CryptoCoin.News