The product concept and its first versions were designed in early 2016. TheSELFLLERY reward system uses ERC20 tokens built on Ethereum blockchain technology.
SELFLLERY enables people to make their visual content truly rewarding.The purpose of SELFLLERY is to create an ecosystem that:
1. Enables users to monetize their photos, videos and live streams in a gamified way;
2. Supports charitable organizations and makes donations easy for users;
3. Provides companies with easy-to-use and effective promotion tools that involve user photos;
4. Expands the market for photo and video content for companies and news services, with a convenient search functionality;
5. Integrates modern technologies and capabilities of blockchain into the digitalphotography market, increasing the transparency and security of its transactions.
The SELFLLERY economic model is based on an internal asset, the SELFLLERY money utilitytoken (YOU token). The YOU token entitles its holders access to paid services on the Ellery platform, to make purchases in the SELFLLERY marketplace and stock gallery, donate to charities, and make internal transfers and withdraw tokens to Ethereum wallets.
YOU token transfer happens when users receive Likes (‘Proof-of-Like’). The platformincorporates a deflationary mechanism, according to which the number of Likes required to obtain one YOU token is increased every year relative to volume of users. Also, YOUtoken generation at TGE will be limited (See ‘Token Generating Event’).Every user who conducts a lot of activities in SELFLLERY brings value to the platform.Therefore, SELFLLERY rewards such users with YOU tokens.
LikesThe Like is one of the key metrics in SELFLLERY operations. Likes serve as accounting records and encourage users to be more active. As users get Likes, they get YOU tokens credited to their accounts.Token MultiplierYOU token amount to credit is calculated automatically based on individual token multiplier of each user.
The multiplier value depends on several indicators including the9number of received Likes, the number of comments the user posted, participation in photocontests, positions in top ratings, etc.