The µDoo cryptotoken — an exercise in utility!
You’ve (hopefully) seen the headline: Howdoo is a messaging and social media platform that comes with an ERC20 cryptotoken — the µDoo — ‘as the mechanism for value exchange across the network’.
But what does that really mean? What turns the µDoo from ‘marketing waffle’ to a token that delivers big on its promise?
Or put another way, what is its utility, and how will this help drive its popularity?
To answer that is to highlight the specific roles and function the µDoo is designed to fulfill — both internally within the Howdoo network, and externally across our fast-growing partner network.
Let’s start with the internal story:
‘In-network’ activity
It’s here that µDoo will fuel commerce, network support, and user behaviors.
For users
, µDoos can be used to:· Buy and sell digital products with other users and communities
· Tip people/services/companies for great service/say thank you etc.
· Subscribe to services (say a podcast, music etc.)
· Create the reward they receive for engaging with any advertising
For content creators:
· Revenues generated by their content will be shared in µDoo, but as a far larger % than those available from other existing platforms
· Great content will also attract micropayments (the tip function)
For advertisers
, µDoo offers:· A token that’s used to buy access to their target audiences
· An incentive for users to actively engage with ads and campaigns
For sellers
, µDoos let’s them:· Conduct transaction (via smart contract) over the network
· Expand their pricing structure to accommodate micropayments
For gamers:
· µDoo will be used for making in-game purchases
· They will also help unlock extra gameplay and unique features
For network operators
, µDoo will be used to:· Reward performance and stimulate future involvement
· To inspire our teller network to offer the lowest transaction fees
The list could go on and on: think charities having dedicated pages, and enabling fundraisers to collect payments (and micropayments) in µDoo; think bands creating their own channel and offering exclusive ‘backstage passes’ and merchandising in return for µDoo (see our partnership with SolidART as a great example); think people buying µDoo and sending this to friends and family across the globe –. And that’s just the beginning…
As for the external story:
‘Out-of-network’ activity
It’s here that the Howdoo partner network will come into its own, with agreements in place to extend the applicability and utility of the µDoo token — to open up a world of opportunities for users, sellers, and service providers alike:
For other blockchain-based partners:
· With these agreements, the µDoo will be interchangeable with the specific tokens attached to other platforms
· Partnerships already announced include companies offering radical new services in the areas of entertainment, leisure & tourism, and financial services — with many more to follow
For non-blockchain-based partners:
· µDoos here will be recognized for their utility, and therefore usable in exchange for other ‘stuff’
· As an example, Howdoo is now partnering with the award-winning video game developer Splendy to enable µDoo to be used as an ‘in-game’ token (more exciting news on this to come soon!)
Spreading the love — and the value
So there you have it. Lot’s of bullet points granted, but what each one shows is the real world application of the µDoo. It’s also worth keeping in mind that the token is an integral part of the Proof of Contribution (POC) score that Howdoo will create for each user. This POC features an advanced algorithm that determines a user’s participation and contribution — and the rewards they can receive for performing various activities.
So from in-game purchases to earning advertising rebates the µDoo is going to be one of those rarest of animals: a cryptotoken that will stimulate mass user adoption due to its practical nature and stunning potential.
This is the µDoo, and this is Howdoo.
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