Hello!
Lately we have been continuing to develop our beta, craft our brand, and strategize how to enter the growing paid survey industry. This process has led to an understanding that we must strengthen Vey’s biggest asset, which is being the fastest and most affordable market research online, as well as bridge our service with traditional market research in order to generate the most adoption.
Blockchain technology allows us to innovate and bring new possibilities to online surveys. This includes providing participants with instant ownership of earnings and the ability to withdraw fractions of a dollar. While ERC20 is the foundation of Vey, it is not the selling point for the vast majority of market researchers who have not yet adopted cryptocurrency. Our major selling point is that we are simply faster and cheaper than all of our competition.
What makes us special is that we are a market research bidding system running on zero margins. We will not have any fees. The established market research companies are cashing in as middlemen, charging outrageous fees on the entire research process — from survey creation to audience targeting. There is currently no alternative, let alone a service that beats the industry’s prices while also providing unmatched speed.
In order to fully align Vey with our mission, we have decided to remove our planned 5% dividend fee so that 100% of researchers’ money goes to participants. We have also decided that, shortly after the beta is released, researchers will be able to fund their surveys with USD, in addition to BTC and VEY. The platform will convert funds into VEY in order to payout participants. Any amount of earned VEY can be withdrawn for free, and once it is feasible to implement, survey takers will also be able to exchange their VEY for alternate rewards, such as gift cards.
Our goal is for the average survey-taking user to see Vey as functionally similar to the traditional paid survey websites, but less restrictive and with a superior UX/UI. For example, on the popular survey site Swagbucks, users must earn enough arbitrarily determined “swagbucks” before unlocking gift card rewards. It takes completing countless surveys to reach the gift card threshold. But Vey could offer gift card rewards in exchange for VEY tokens without compromising the ability to instantly withdraw the smallest amounts of VEY.
To sum up, Vey will not be sitting around waiting for researchers to adopt cryptocurrency. Instead, we will be utilizing blockchain technology and our ERC20 to offer a robust market research solution that works for everyone.
In the coming weeks, leading up to our beta release, you will see changes to our website and social media presence that better reflect Vey’s positioning in the market research industry and goals for the future. In the near term, we are hoping to get on a second exchange that we love, in addition to STEX, and get listed on Coinmarketcap. You’ll hear from us soon!
Thanks
The Vey Team
