Aptoide is set for its ICO to raise US$18 million for AppCoins. The blockchain based protocol will be integrated into Aptoide’s App Store to serve its 200 million users, and can be adopted by app stores using any operating system. To fund the project, the company launched an ICO pre-sale on November 6th, opening its tokens for pre-sale to the Aptoide community and other exclusive groups.
Following the ICO, AppCoins, a new cryptocurrency that users can earn and spend in app stores, will become available to anyone visiting the Aptoide App Store. Users will also be able to transfer AppCoins to each other, increasing purchasing possibilities and incentives for users to discover and enjoy apps. Users will be incentivized to engage with advertising to earn currency, allowing the world’s 2 billion individuals without online payment methods to make in-app purchases (such as game upgrades) for the first time.
The protocol creates a new shared ecosystem among all app stores, powered by the blockchain and a new framework within which App Stores can choose to operate: AppCoins is to become the new universal language of the app economy.
For developers, the model removes any payment or advertisement intermediaries, promising greater returns on investment and increasing the monetization potential. Additionally, all information is stored on the blockchain, where app developers’ reputations are built through their transactional history across app stores. This eliminates the current opacity around app approval across different stores.
The protocol addresses the app economy’s major shortcomings, offering an overall safer and more transparent system which benefits app stores, users and developers. Today only 5% of smartphone users are making in-app purchases (IAP), buying third-party apps or products through native advertising. AppCoins removes any barriers to entry for users and developers alike, by offering a universal language and tackling the ecosystem’s three main issues: inefficiencies within the advertising models, inaccessibility of in-app purchases and lack of transparency in the app approval process.
“Aptoide has been working on decentralizing the app economy for the past 5 years,” said Ren Tang, VP of Product at Aptoide. “Today, with blockchain technology and smart contracts, we can unlock all potential value in app distribution and app monetization for developers. By reducing Adtech intermediaries, AppCoins only takes a 15% cut on developer benefits, compared to an industry average ranging from 40 to 70%.”
With AppCoins, Aptoide becomes the world’s first app store run completely on the blockchain, using the Ethereum platform. It offers a new app environment set to create a paradigm shift in the entire app ecosystem, which currently generates more than $77 billion yearly in gross revenue. The app ecosystem is one of the fastest growing online spaces today and set to reach over 6 billion users and $6.3 trillion in revenue by 2021.
“Our vision at Aptoide is to create a decentralized solution that will disrupt the current model, offering greater choice and value for app developers, app store owners and users alike,” said Paulo Trezentos, Aptoide CEO. “With today’s launch, we are taking a major step in that direction. AppCoins is set to profoundly change the app economy as we know it today, by offering a radically new environment to create and consume apps at scale.”
To raise funds for the new cryptocurrency venture, Aptoide launched its ICO (Initial Coin Offering) pre-sale on November 6th 2017 live from the Web Summit in Lisbon, opening 20% of the total number of AppCoin tokens to investors. During the pre-sale phase which runs until November 20th 2017 23:59 UTC, members of the Aptoide community and other exclusive groups will get the chance to buy the first AppCoin tokens.
Aptoide’s fundraising exercise is the first ever ICO in Portugal, as this new approach rapidly becomes the main avenue for start-ups to raise money from users. ICO funding has hit a record US$800 million in Q2 2017 and recently surpassed early stage venture capital funding.
Launched in 2011 by Paulo Trezentos and Alvaro Pinto, Aptoide is one of the largest and fastest growing start-ups, with 200 million users and 4 billion downloads to date. The company raised US$1Million in Seed funding from Portugal Ventures (2013) and $4Million Series A financing by e.Ventures, Gobi Partners & Golden Gate Ventures (2016).
About Aptoide App Store
Founded in 2011 and based in Lisbon with offices in Shenzhen and Singapore, Aptoide is the first social Android app store. With over 200 million users, 4 billion downloads and 1 million apps, Aptoide is a community based platform that reinvents the app discovery experience through a social environment, tailored recommendations and the opportunity for users to create and share their own personal app stores.
Aptoide also provides customizable white-label App Store solutions for developers, OEMs, Telcos and Integrators, through which they can upload and distribute their Android Apps. The Aptoide App Store is available for mobile, TV and VR devices and is accessible in over 40 languages. With an ever-growing community of users and partners worldwide, Aptoide is now one of the leading players in the world of Apps.
Aptoide ICO Details
Pre-sale Token Distribution End Date:
November, 20th 2017
Token Pre-Sale (20% of all Tokens):
- Uncapped, fixed price
- Discount: 30%
The AppCoin Token, ERC20 Ethereum Token (Symbol: APPC, reads “App Cee”)
450,000,000 APPC Pre-sale + sale: 180,000,000 APPC
1 APPC = 0.10 USD* (ETH value based on the date’s exchange rate)