Review: GetGems iOS App Glitters But It’s Still Seeking Gold

Name of product: GetGems.

What it is: Mobile messaging app with built-in, bitcoin-based incentivization token.

Made by: GetGems.

Who’s behind it: Israeli developer Daniel Peled, with $400,000 in strategic investment from Magma VC and $780,000 raised in its initial crowdsale.

Cost: Free to download.

Date launched: 29th April 2015.

GetGems, iOS app

Basic summary:

GetGems is a decentralized social messaging app built on open-source software provided by popular encrypted messenger Telegram. The app allows users to send and receive both bitcoin (BTC) and its native digital token, GEMZ.

Billed as “the first messaging app that pays you”, users earn GEMZ by helping to grow the network, with rewards of 25 GEMZ given for every referral that generates a new participant. Additionally, 27,500 GEMZ are distributed to users daily, with users receiving a part of this amount proportional to the number of users they have invited to the network.

As the app is updated, users will have more ways to earn, including viewing in-app ads.

A token created on top of the Counterparty protocol, GEMZ are currently traded on exchanges such as BTER and Poloniex at a press time value of $0.01 per GEMZ.

CoinDesk Rating: 3/5


Read more ... source: CoinDesk