Contest format for image and video upload
Piclot has been established to provide a contest format for image and video upload within a social network framework. The Company will promote contests judged by users, with the top three entrants winning prizes in currency and goods. Piclot will dedicate fixed amounts per contest for winner payouts, thereby stimulating interest in the Piclot offerings. Marketing and promotions will be undertaken through online strategies that maximize return on investment. Piclot’s business model has been thoroughly reviewed from a legal perspective and is considered a contest enterprise rather than any form of online gaming. The business will tap into the explosive growth in the popularity of photo sharing networks.
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