ICO Review of BLOCKv ($VEE) Smart Virtual Goods on Blockchain
I was watching d10e conference videos when I stumbled upon the BLOCKv project. It caught my attention immediately when I saw what they were offering. First of all, their product is a great idea and it seems like they practically integrated this idea into working application. Second of all, virtual goods market is becoming more prominent each year, so it is really great that they found out how to connect advertising market to this growing sphere. Finally, I tested their application and saw some demo videos on their YouTube channel and was amazed with the quality and possible mass adoption due to cool features.
I will try to show you why I think BLOCKv will be possibly one of the most interesting projects in 2017. There is 100% certainty that after trying out what they offer you will also be interested in the future of this project. Developers compare their application for blockchain to what browser was for internet. Or Apple Appstore for mobile applications. Yes, it sounds like another blockchain “UBER” but at least they have done some homework before attracting investors’ money (They have been developing their project for 2 years).
BLOCKv consists of specialist with a background in developing massively scalable transactional systems for consumer and enterprise markets .
This startup cares a lot about complying with the SEC. That’s why they work with MME — Zurich company specializing in consulting firms in legal, tax, and compliance sphere. It helps Blockv to stay compliant in the most dangerous environment for ICOs .
The project also cooperates with Element — a first full-service investment bank for the digital token capital markets. These partnerships will help them to expand faster in the global virtual market and achieve their goals.
Let’s now see what their platform is all about.
One of the most important business activities for BLOCKv will be the construction of bridge between advertisers and consumers with the help of digitalized virtual goods. As an example, you will be able to open application, point camera to billboard, and get a unique digital good that can be exchanged for a bottle of coca-cola. To be honest, I would be able to tolerate some forms of advertisement in case I could get something material in real life or important in digital form.
The platform can use Bitcoin, Ethereum, and EOS blockchains, but it has created some unique blockchain concepts that lead BLOCKv to create its own ecosystem.
2vAtom digital objects and V (VEE: ERC20 token standard) tokens will form the basis of BLOCKv platform where smart contracts will be used. In order to create and use vAtom tokens ,organizations and people will have to spend VEE tokens.
In BLOCKv, Digital objects are an interface protocol of upgrading a simple container or smart contract to emotionally satisfying multimedia experience.
BLOCKv is a platform which augments blockchains with revenue-generating consumer-facing experiences. Let’s explore where this project will be used.
Collectibles. Different digital esports cards, rare digital art, any digital creation that is scarce. Also, I was amazed with the demo that they showed on their YouTube channel. It showed how, while browsing on the internet on mobile phone, you get to see unique advertisement that is a key from popular multiplayer game Overwatch. Guess what? You can use this key to open a crate and get unique digital items. As I previously mentioned, I really like this project.
Coupons. Redeemable smart objects with 3D visual representation. It can be functional and have dynamic incentive structure. In the demo they showed how they scanned the advertisement and got the digital object, bottle of coke. Guess what? You can exchange this digital object for real bottle of coke! It is cool.
Gift cards. Well, digitalized amazon and ebay gift cards. It is simply very useful. Also, maybe some advertisement will give you $5 worth of gift card. Quite interesting idea to boost sales.
Medical. Well, this is very complicated, but BLOCKv founders are planning to conquer medical sphere too with the HIIPA-compliant communication. I do not think that they will be able to enter this market in the near term with all complications they will face.
Gaming. One of the most lucrative spheres. Founders want to create virtual goods market but they understand that it will take a lot of effort to connect to gaming companies and sign necessary agreements. I think that game developers will be under siege by startups in the near term.
BLOCKv enters the virtual goods and advertising market. This is going to be the combination of two, but I am sure that this will work just fine. Advertisers are always looking for new ways of getting their products advertised.
BLOCKv will compete with the different blockchain projects that are connected to virtual goods market. Recently, there was a wave of ICOs that were concentrated on virtual goods and loyalty programs. Enjin Coin, SGR, Decentraland, and others. Still, BLOCKv has advantage in terms of quality and approach (it tries to capture many virtual goods market spheres).
Total virtual goods market will triple until 2020. Quite significant change.
Developers, consumers, and cyclers(miners) will all use V tokens for different needs. In order to do anything in the network, you will need tokens.
VEE tokens (main currency of BLOCKv ecosystem) will grow with the number of users. Standard scenario for utility token.
Due to the volatile crypto price, crowdsale terms are tied to USD. Early contributors will get a discount for the purchase of V tokens.
Pre-sale from Sep-18 till Oct-10 2017; sale from Oct-19 2017. pre-sale and sale are hardcapped to 20 $mln each
60% of tokens sold go to investors. In reality, this number is close to 35% but I guess everything depends on how well they sold during presale. 40% of overall supply go to founders and reserves.
30% of tokens will be allocated to product development, 25% to marketing & community building, 20% to infrastructure and systems, 25% to general corporate purposes.
In order to buy tokens, contributors need to go through KYC process