VideoCoin Token Lock Extended for 2022 as Multimedia NFT Project Accelerates Into Transformative Growth Phase

Vivid Labs Team
VideoCoin
Published in
3 min readNov 14, 2021

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November 14, 2021

Summary:

  • The VideoCoin Development Association optimizes tokenomics by a continuation of locked service provider and foundation VID tokens through all of 2022.
  • For 2022, the project will lock 80 million VID tokens, comprising 96% of uncirculating service provider and foundation tokens.
  • The circulating supply of VID tokens is anticipated to increase by 15% over the course of 2022 to support business development, a continuation of staking rewards programs, and advisory commitments.

As we approach the end of 2021 and the VideoCoin Network’s technology enablement of the NFT space continues to grow, the VideoCoin Development Association (VDA) and its service providers have reviewed the project’s token metrics to ensure an appropriate supply of VID tokens is available in the market to enable continuous operation and expansion of the Network.

In December of 2020, the VDA announced a 2021 token lock-up of approximately 90MM VID, primarily of those tokens held by service provider partners and the VDA itself, comparable to tokens other projects may designate as “company” tokens. Now, as we look to 2022 and the anticipated growth of the business, the VDA can again commit to locking virtually all similar tokens, 80MM of them, factoring in the project’s presently known commercial plans in the NFT technology business.

Moving into 2022…

  1. Presently, VID circulating supply, out of 265MM total supply, stands at 156MM. This reflects an increase of 10MM from last December primarily due to tokens distributed over the year as staking rewards, as well as some advisory and other marketing activities.

2. It is challenging to project all needs for adding tokens into circulation over the coming 12 months — all of 2022 — given our plans in the NFT space. Our estimates are based on 1) the continuation and growth of the project’s Staking Rewards Programs (Yes, this means those programs are continuing into 2022!) and the tokens needed to support them, as well as 2) our business development pipeline and planned marketing activities in 2022. These activities are anticipated to utilize tokens available in the marketing, advisory, and acquisitions categories BUT not require service provider or foundation tokens. This will increase circulating supply over the course of 2022 by 15%, as follows:

3. Given these estimates, the project is committing to locking 80MM tokens for 2022 — all 70MM from the service providers category and 10MM from the foundation category (leaving a little over 3MM tokens in the latter category unlocked for any overage of estimated need).

These 80MM locked tokens represent 96% of uncirculating service provider and foundation tokens.

A final note: The NFT industry is exploding and the team has been laser-focused on developing VideoCoin Network-driven NFT technology solutions (as you saw in our most recent Beta demo) to play a significant role in shaping this industry. While the VDA and its partners are confident in making these lockups at this time, should significant commercial opportunities arise for the business that will greatly enhance the project’s market profile and footprint AND such opportunities may require tokens beyond those remaining unlocked, the project may need to revisit this plan prior to the end of 2022. If this occurs the community will be informed accordingly.

We will shortly update the token section on the VideoCoin.Network website with this information.

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Vivid Labs Team
VideoCoin

Creators of VIVID, the next generation NFT publishing platform that allows anyone to create, manage, and sell multimedia NFTs.