With momentum building for the project on the heels of their recent announcement of an ICO, OneName Global, Inc., a company registered in the US state of Delaware is causing buzz among both cryptocurrency fans as well as avid social media users eager to secure monetization of their content. With a fully functioning platform already accepting users, onG is unique in a season crowded with promising ICO’s.
The Product
The user experience revolves around a dashboard which allows you to connect to the API of your other social media accounts. In the beta release onG allows connection to Facebook, G+ and LinkedIn. Users can originate content on onG and automatically post to other social media accounts with onG acting as the control center using powerful account management tools that are seen elsewhere as premium services.
These free tools include features like analytics and calculators that estimate money being generated by the user’s posts. This income being generated is automatically integrated into a “bank” which is saved in the native token, onG Coin. One of the early primary goals is to have the token tradeable on popular exchanges so that the user can freely exchange the native currency for Bitcoin and even fiat.
Pre ICO Valuation
Many companies in the blockchain/cryptocurrency space choose to incorporate in more regulation friendly jurisdictions. By choosing the state of Delaware to incorporate, OneName Global is exposing itself to the full regulatory scope of the United States. The challenges of that are obvious, but one of the benefits is that the company has taken the steps to get their corporate entity valued and even before the official launch that figure is $25 million USD. Most ICO’s consist of buying a token in exchange for the hope that the developers make good on the ideas presented in a white paper. onG has a working platform and assets at ICO.
IBM Incubation
It’s clear that years of work went into creating this platform. IBM has been incubating this project since 2014 and it shows. This type of development takes external monetary support. The usual path for development in the crypto space consists of developers creating a website and white paper and taking the idea to an ICO with the hope of getting funding so that the project can begin. In this case, IBM assumed the early risk which has resulted in a very advanced product coming to market.
Dual Blockchain
Being so early in the maturation of the ICO space early adopters have witnessed the impact of the mania that can surround a hot launch. Recently early adopters of the Bancor project severely impacted the Ethereum blockchain to the point where prominent exchanges like Poloniex completely disabled withdrawal of Ethereum. onG addresses this by being only the second ICO to utilize two block chains, Ethereum and Waves. Utilizing two block chains builds in redundancy and stability during heavy network loads. onG has built the onG Coin to ERC20 standards which allows them to tinker with the network algorithm that distributes the token while not compromising the actual security of the platform.
Initial Coin Offering
The ICO for onG’s cryptocurrency (onG Coin) is slated to be launched on July 17, 2017, where 25% of the total cryptocurrencies will be released, with the remaining 75% released systematically as rewards on the onG.social network over the next twenty years.
Headwinds
As with any attempt to break into social media, it’s important to recognize the challenges that this new company faces. It is extremely difficult to build community, just ask Google. Even with their huge war chest for development, Google+ never really hit home and languishes as a second-tier platform. Users are very hesitant to change and learning a new interface for social media is a heavy lift. onG is betting that people can be incentivized by actual money to try something new. They have enlisted MMA legend Kenny “KenFlo” Florian in their marketing efforts and have brought in YouTube heavyweight Alexander Laserev aka Sasha Daygame to manage the community. Both very influential with the male crowd. It remains to be seen if this project can attract female users, who are critical to the success of any social media platform.
If onG is going to compete in the top tier of social media they will have to address this sooner rather later.
I’ve been using the platform now for a few weeks having just heard about it myself. I love the concept and plan of the company and will be supporting it. As the user base grows, so will the features and I cannot wait for that. Excited to see the transition and how the Blockchain integration will work. Keep up the good work guys!!
I’ve been on onG Social for a couple of weeks now. It’s like getting paid to do what you’re already doing on facebook. Seems like a no-brainer to me.
Hands down, the best part is that it PAYS REWARDS to destroy fake news! I just love the unique approach + it is on a dual blockchain (just so many innovations in one place)
onG is going to crush facebook !
Very happy to be using this platform already! Also interested in this crypto coin option. Interesting times ahead!
I loved the fact that it doesn’t block content. It is liberating. Also we get paid for our content. I’m buying the ong social ico which will launch in few days.
It is an very promising platform and I am looking forward to see it growing even faster after it’s ICO on July 17th. We need more options of free and uncensored media like this! Thumps up.
A sweet platform. I am curious to see how the double blockchain idea works- first time seeing this. And, the roadmap of the project looks really promising…
Well, definitely gonna take some time to spread, but the potential’s huge and I’m looking forward to seeing its progress. I really like the team & their mindset/policy, meaning that they are opportunity-driver rather than necessity-driven. : )
I’m gonna check it out; How does the ‘reward’ system differ from Steem? Does anyone know
please can i get the website for onG social media
The reward system differs with onG Coin in couple ways: 1. The onG Coin is finite. With Steem, they create 100% of new Steem every year. onG Coin is limited to 300M and distributed as system rewards over next number of years. 2. The platform will allow content creators to post to Steem to earn both onG Coin and Steem at same time… That is the Hub part of it! Beyond that onG has G-Fuel, which is like Steem Power and they have G-Bucks, which are pegged to advertising dollars, so there is another outside revenue source driving the ecosystem! Fun times ahead for sure!!!
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