What on earth is a QCO token anyway?
The ever-expanding crypto-universe offers an astronomical variety of tokens for you to choose from. You’re probably looking at value and growth potential to help you decide, and we here at Qravity figure that a token’s utility is equally as important to you. So we’d like to get you better acquainted with our token, Qravity QCO, or simply QCO. You’ll see that it ticks all three boxes
QCO will not only support further development of our groundbreaking entertainment production and distribution platform, it will also have real value within the platform’s ecosystem, allowing you to enjoy independent movies, video games and more.
By the way, now is the perfect time to get Qravity QCO — until August 31, 2018, you can get 30% bonus tokens for participating in our token presale. Sign up today!
QCO: What it is and how it flows
QCO is the utility token that powers the Qravity ecosystem. The platform uses QCO for all monetary transactions, including purchases and rentals from the Qravity marketplace and royalties paid to content creators and project founders. The latter transactions are tied to an internal Qravity token called the Qravity Project Token (QPT), which represent ownership shares in a digital entertainment project.
A content creator can complete tasks for, and therefore receive QPT from, multiple projects. Every time a consumer or distributor buys content on the Qravity platform, creators receive a portion of the payment in QCO based on the amount of QPT they earned for their contribution to the content’s production. The following diagram presents the relationship between the two tokens, and demonstrates the flow of QCO from consumer to producers and creatives.
When a consumer pays QCO to watch a movie, the account address they sent the QCO from is set as an address with approval to access that movie. The platform sends the QCO to the
project, then distributes it to the addresses of that project’s QPT holders; the amount of QCO received is based on the amount of QPT held.
The following diagram shows the flow of QCO, or revenue, in the Qravity platform. For Wholesaler Content Distributors (WCD), Qravity can manually create paper contracts, convert fiat payments into QCO through exchanges on behalf of the WCDs, and inject that QCO into the platform until WCDs start using B2B blockchain transactions regularly.
QCO can do a lot of good for a lot of people
Project founders and content creators who produce movies, video games, and other forms of digital entertainment for the Qravity marketplace get royalties in QCO every time consumers or distributors purchase their products. The beauty of this payment system is that it cuts out intermediaries such as studios, agents, and lawyers — every team member, including the project founder, receives 100% of their share of the profits.
Consumers and distributors who use QCO to pay for original premium Qravity entertainment not only pay a discounted rate, they can save up to 20% on Qravity content simply by holding QCO in their accounts. For example, a consumer gets 2% off the price of, say, a movie for every 10,000 QCO they’re holding. If that consumer is holding 50,000 QCO, they would get a 10% discount. The amount of tokens required to get this discount will change if the value of QCO changes.
On top of this discount model, a consumer can get a free digital download or stream each month for every 100,000 QCO they hold in their wallet (amount of QCO held for bonus eligibility subject to change).
Here is a prototype Qravity marketplace page that presents an example of QCO and fiat pricing of Qravity content. Note the 15% premium that is added to the fiat prices.
Value in versatility
In addition to using QCO to purchase, rent, or license Qravity content, anyone holding the token will be able to trade it on exchanges. But that’s not all — as a Qravity community member, you can help drive Qravity projects to completion through a project startup funding option called QCO Boost. This platform mechanism enables you to pre-purchase a set amount of product “distributions” (i.e. content license purchases, downloads, and streams) during the production stage at a discounted price. You can then sell your distributions for profit.
We’ve further expanded the utility of QCO with our Prepaid Content Creation Pipeline (PCCP). Project founders have the option of using the platform to create prepaid projects, such as advertisements, short films, and other content that (a) does not fit into monetizable premium content categories, and (b) requires a client willing to pay up front for a project that a creative team can produce swiftly. This enables content creators to earn QCO quickly through the platform.
Getting QCO is easy
You can use ETH to get QCO during the Qravity token sale. From now until August 31, 2018, you can boost your acquisition with a 30% bonus; to help you get this bonus, we’ve prepared a simple guide to participating in the preliminary stage of our token sale.
When the presale is over, we’ll still give regular sale participants bonus QCO, just not as much. Once the sale is done, QCO will be available on third-party exchanges.
For even more information about QCO and Qravity, read our white paper and check out our token presale progress at www.qravity.com.
We’d also love to hear your ideas and answer your questions regarding QCO, Qravity, life, the universe, and everything in our Telegram channel.
