ACG Network Crowdfunding Platform – Part 2 (Voting Process)

Let’s start off with a motivational quote of great Mark Twain

 

“Twenty years from now you will be more disappointed by the things that you didn’t do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.”
Mark Twain

Since ACG Network Crowdfunding platform is meant to help the content creators to make their dream true, work they ever wanted to publish, meet likeminded people to support and eventually share the benefit and pleasure of success together.

Like Jack Dorsey, Entrepreneur, Co-Founder of Twitter damn right about following.

“Everyone has an idea, but it’s really about executing the idea and attracting other people to help you with the idea.”

 

Helping quality content creators in achieving the best, ACG Network aims to help creators to execute their project in the right direction while securing fund through the crowdfunding process. Question is what the Execution process would consist of? Certain steps need to be followed both by the content creators and their fans to make project live on ACG Network’s crowdfunding platform and ultimately on DApp content store.
project creation

1) Project Creation
Crowdfunding promoters should fill in the basic information name and type of the project and the number of crowdfunding tokens intended to be raised on the platforms. ACG Network requires project promoters to provide 500 CATTs as the initial lock-up tokens for contracts and to upload their personal or corporate information and KYC survey.
The content submitted will go through preliminary algorithm screening and manual preliminary examination.

Blockchain Based ACG Network's Crowdfunding 2) Phased Voting
ACG Network crowdfunding platform will regularly launch the voting process and the initial voting rule is that the number of ACG network candy in the account shall be an upper limit and the corresponding number of votes shall be granted to the account holder. For each voting activity, a certain amount of time will be set, for example, the initial voting period can be set to 72 hours. After the results were announced the number of votes for each category was reduced in order and top five with the highest number of votes were offered smart contracts to collect passes.

Blockchain Based ACG Network's Crowdfunding 3) Project Opening
After starting the intelligent contract of a crowdfunding project on the platform, anyone who holds CATTs can participate in crowdfunding. CATTs that is contributed will be temporarily locked. After crowdfunding amount reaches 100% or crowdfunding times end, the crowdfunding promoter may choose to start or terminate the project.

Blockchain Based ACG Network's Crowdfunding 4) Staged Display
When the project reaches the milestone of phased display, the project sponsor will upload the phased images or images files.

Blockchain Based ACG Network's Crowdfunding 5) Project Completion
After the successful development of the crowdfunding project, the sponsor will establish a smart contract for income sharing and can set up the income sharing promotion. Crowdfunding contents such as videos and images will be put on the ACG Network content browser and advertising distribution platforms. Incomes from CATTs paid by users and CATTs paid by the client through the advertising platform will be distributed to crowdfunding participants through smart contracts. The platform will complete the distribution in batches monthly.

Posted by Muhammad Faisal Riaz

M. Faisal Riaz is an experienced Business & Marketing Manager with 4 years of solid work experience in the field. Currently working as Marketing Manager at ACG Network Foundation, A Blockchain Ethereum based Digital content distribution platform.

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