Following several months of strong partnerships and product rollouts, Gather Network last week unveiled that it would be incubating PaidToGo as the first of several clients that will be building on it’s blockchain. The PaidToGo app, which is already live and available to download on popular app stores, gamifies exercise and rewards participants for walking and running, with a fight to the top of the leaderboard and also random monthly cash drawings.
Gather Network is a multi-layered platform that enables web users and publishers to monetize their processing power; this processing power is redistributed to enterprise clients as an alternative to overpriced and unreliable centralized cloud services that dominate the mainstream market. The Gather platform will now not only provide services to web users and enterprise, but will also be host to a wave of new and innovative projects building on the Gather blockchain as part of an upcoming incubation campaign.
Get paid to walk and run
As the first incubee, PaidToGo will receive assistance with token modelling efforts, as well as advisory from the Gather team and valuable insight whilst continuing their business development in coming months. Making the decision to build with blockchain, the PaidToGo app will in the near future offer users crypto payouts for walking and running that can be swapped for other tokens, sent to other users, and even staked for 20% APY, all within a secure digital wallet. Users will also be able to earn tokens for educating themselves on the topics of cryptocurrencies and blockchain technology
A seed raise round for funding of the project is set to take place in the coming weeks during which the PTG token, a utility token that powers the PaidToGo ecosystem as “a turnkey blockchain solution”, will be available to Gather Network token (GTH) holders who meet a certain criteria. With private and public sales also scheduled and with an overall raise of $1.6 million, PTG will upon launch have a listing market cap of just under $550,000.
“We’re excited to be helping the PaidToGo team with their business development and fundraising efforts in the coming months.” says Reggie Jerath, Gather CEO. “Utilising Gather’s extensive network and expertise in blockchain development will enable them to roll out a blockchain-based solution without having to hurdle as many of the obstacles that are associated with early stage business development.”
Expanding features and incentives with Gather
The PaidToGo app enables users to set themselves wagered targets for walking and running, with rewards of up to 2x up for grabs should they walk up to 100,000 steps in a week. Users can join teams and battle against others for prizes or can even become part of local community pools, working jointly towards reducing traffic, encouraging exercise and promoting local businesses.
With several exciting incentives on offer to users of the app, PaidToGo gives participants the chance to earn Gather tokens for sharing their processing power for distributed cloud computing; users can swap their Gather Tokens for Paidtogo Token (PTG) and receive a 10% premium in PTG Tokens on the exchange rate. Taking full advantage of Gather’s novel mechanisms for utilising computing power, Paidtogo will itself integrate Gather’s core functionality to earn tokens for sharing spare processing power on the platform.