First chat application in the world launches to reward users for social sharing
- 200,000 app downloads within hours of beta launch
- Consentium has raised US$42 million during Initial Coin Offering (ICO)
- Consentium sets targets in 8 Asian countries - Singapore, Malaysia, China, Korea, Japan, India, Vietnam, Thailand
SINGAPORE, March 20, 2019 /PRNewswire/ -- Consentium, the first multi-purpose messaging app that allows users to rewarded for their engagement with the community has officially launched in Asia. Its proprietary technology, the Chat Community Monetization (CCM) module, is an incentive model that calculates user actions and contributions and ties it to token rewards. The app gathered 200,000 downloads within the initial hours of its beta launch in December.
"We want to deploy bleeding edge technologies such as machine learning and artificial intelligence for the direct benefit of end users," says Pranay, CTO Asia Focus Group. "We believe Consentium is poised to enter the US$48 billion global chat app market by reforming current user behaviour and adding financial value to social interactions and behaviours."
The CCM Model rewards users based on their engagement level. For users who are influencers or leaders of supergroups, they receive higher amounts of CSM tokens. Basic engagement will also earn users tokens, which serve as an incentive for user retention and attraction. This allows both macro and micro influence to be rewarded - while networking platforms which only rewards macro influence.
The next phase for Consentium is to expand to payments with its e-wallet. Consentium was the official payment app a Huobi Singapore event where customers and retailers transact via the platform.
Consentium has also previously announced the launch of the Consentium Ecosystem, which includes Exonium (a cryptocurrency exchange) and Cryptonium (a peer-to-peer exchange platform).
By establishing a commercial ecosystem around the Consentium Chat App, users will have many channels to convert the CSM tokens they have earned. The idea is to build a synergised ecosystem whereby cryptocurrency conversion is made seamless to end users.
"Using the data we collected from the 200 000 sign ups received, we crafted our Asia launch plan. There are clear interests users from specific Asia regions and we will be laser-focused on the markets we are most needed," says Jeremy Khoo, Head of Business, Consentium.
Consentium has officially launched in Singapore and Hong Kong and will continue in the rest of the world.
About Consentium
Consentium is the first crypto-wallet and chat application to reward its users with cryptocurrency for their engagement on the platform. Its digital tokens, Consentium Coins (CSM), are developed based on the Ethereum platform (the world's largest leading smart contract blockchain). The aim of Consentium is to transcend simplistic chat applications, and develop an advanced multi-feature app that can boost collaborations and productivity within corporate and social communities.
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