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ViMarket (VIT) ICO Review – ICO Token News

Many ICO tokens come and go, but a few change the ways of the world. Since there are so many ICO sales happening, it is easy to get overwhelmed as to which one is really worth your investment. That is why we are covering a promising token, and the technology backing it, that is poised to transform the way the retail world works.

Here is ViMarket having its own VITokens with the VIT symbol. In this post, you will know everything you should about the token, its technology, and the innovation supporting all of this. Without further ado, read on to explore ViMarket’s history, team, coin, and the underpinning concept.

What is ViMarket ICO?

VR is already disrupting a number of verticals. The idea of leveraging VR to disrupt e-commerce led to the development of ViMarket and to the beginning of a retail revolution. The core development team behind this 3D marketplace was driven by the idea of letting people build their own virtual assets. In this virtual world, the people could easily sell their virtual realities or assets and other immersive experiences.

From the beginning, this asset marketplace was engineered to enable e-retailers or merchant sponsors to develop fresh advertisements and reach new markets through plugging into immersive experiences. The market has been developed to build fresh forms of advertising that is based on augmented reality (AR) and VR.

Vimarket1

Having invested ten years in research and development around consumer consumption, the core development team is successfully building the largest asset marketplace. Other than disrupting e-commerce, this 3D market plans to bring fresh VR capabilities in a number of verticals such as entertainment, automotive, healthcare, and big-box retail outlets.

The team that made the idea of ViMarket a virtual reality

ViMarket is the result of pure teamwork. The team that has built this innovative 3D marketplace includes a number of experts belonging to different domains. With complete dedication and steadfast efforts, the team has a built a revolutionary product that will create a robust bridge between real economies and crypto coins.

The team consists of a number of financial advisors, marketing experts, blockchain wizards, creative officers, and community moderators. This team has been evolving along with the market at a steady pace. This evolution makes sure that the retailors and shoppers get the best VR–based shopping experiences.

The people working in this asset market have designed sophisticated processes to easily visualize the shoppers’ aspirations and buying decisions. This visualization begins by transforming the conventional 2D retail browsing into an immersive VR experience.

Analyzing ViMarket: changing the e-commerce sector for the better

Founded in Britain in 2015, ViMarket UK Ltd. specializes in delivering a number of solutions such as artificial intelligence, 3D content creation, machine learning, and virtual and augmented reality. The company’s chief aim is to provide cutting-edge solutions to the verticals that have still not unlocked the potential of VR and 3D.

As a 3D asset marketplace, ViMarket is all set to revolutionize the global e-commerce ecosystem. The platform empowers its users to develop and share immersive virtual reality (VR) experiences. By putting the VR technology at its core, this marketplace will deliver unprecedented value and confidence to the shoppers for buying something from their device.

Having a proprietary editor, the marketplace enables its users to develop photorealistic, interactive VR simulations. The best part is that the platform’s users, irrespective of their professional training or experience, can easily develop these immersive simulations. Presently, this marketplace is focusing on the interior decoration and real estate sectors; in the future, however, it will include automotive, fashion, and other e-commerce verticals.

The idea is great, but having healthy revenue is important as well; that is when the VIT tokens come into play. The users, or shoppers, of the platform use these VIT tokens to acquire virtual content and goods from the marketplace; every virtual good is sponsored by a merchant. So when the users want to buy a real-life variant of the virtual good they have been using in the station or the virtual apartment, they know which real-world retailer to contact.

Vimarket2

Everything investors should know about ViMarket ICO

A VIToken is a utility token based on ethereum (similar to other ICO tokens such as  ORCABitnationCappasityLotuscoreDIWKoiosXYOORIGAMI NETWORK) and is also a form of crypto coin accepted in the ViMarket for buying both the real and virtual goods. Because of this feature, these tokens can be simply exchanged for currency to buy real-life products from the associated merchant sponsors. For kick-starting the purchase of different virtual assets and for the overall development of the 3D market place, the company announced the crowdsale of VIT tokens.

ViMarket RewardsTM

Put simply, ViMarket will be a broker/bridge between potential merchant sponsors and 3D modelers who can turn a virtual object design into a real-world product. If any virtual object is transformed into a real-life good, the developer will be rewarded with VIT tokens.

Additionally, the influencers who acquired the virtual model into their station will also be rewarded once it becomes a real-life product. However, the influencers will not receive a token reward; instead, they will get a simple discount put on the real-life product.

For managing the reward business, the platform has a dedicated reward program in place. As per this program, users will stand a chance to earn VIT tokens and other exciting discounts based on their activities and roles on the ViMarket. Such a reward program easily improves the participation level in the virtual community.

The problems and challenges that ViMarket tackles head-on

The merchandise worth USD 4.6 trillion is abandoned in the shopping cart every year. For big e-commerce players, this fact means a lot of lost revenue; however, for smaller companies, such figures lead to an unavoidable existential threat. Because of th`is, the advertising and marketing for retailers have become pretty challenging.

Further, every e-commerce player faces the shortcoming of not letting its customers touch and feel the product. That is where most brick-and-mortar stores win. This is the biggest problem faced by today’s e-commerce companies, and that is the ultimate challenge VirMarket tackles head-on.

The challenge exists to develop a level-playing field for both e-commerce players and physical stores. VirMarket uses the VR technology to create immersive shopping experiences; due to this, an innovative e-commerce ecosystem will be developed. In this ecosystem, users/shoppers will get rewarded in ways that are truly groundbreaking.

True Innovation lies at the heart of ViMarket

ViMarket stands to deliver innovative solutions for revolutionizing the e-retail space once and for all. Its revolutionary solutions aim to solve the trillion-dollar problem that the e-commerce sector is facing constantly. The platform brings together 3D content creators and developers along with several social media influencers and tastemakers to give merchant sponsors an innovative advertising platform.

With ViMarket, merchant sponsors will have radical ways to reach their customers quickly. Having such a tool empowers the merchants to unlock key insights into a customer’s buying behavior. This ecosystem, as a whole, will be engineered to attract a number of merchants and 3D modelers to be part of this new form of commercialization.

A range of physical products is made available to the shoppers; the merchandise will be available at the platform’s native repository. This ecosystem will allow the customers to browse through different products in 3D by using a dedicated VR headset or an internet-enabled smartphone. The virtual format of these products can be purchased using VIT tokens.

The decision to buy the virtual version of any product on this ecosystem makes sense because of these two reasons.

1 – If an already-purchased virtual model is available as a real-life product through a merchant, the buyer will get heavy discounts.

2 – The previous benefit was for buyers, but this one is for merchants. So if the shoppers keep buying a virtual model of a real-life product, it will keep getting stored in the inventory of this ecosystem. Through this inventory, the merchants can get the best insights into their targeted customers’ buying behaviors.

So, put simply, ViMarket uses the leading-edge technology to develop new, immersive VR experiences that will improve shopping, selling, and advertising completely. This platform takes social media influencing and immersive advertising to a whole new level of excellence and innovation. Plus, by mixing advertising with VR and AR, the platform has made the life of real-life sponsor merchants simpler and more convenient than ever.

  VIT ICO and sale: the details that matter the most

The VIT ICO sale was initiated to let businesses have rich capital for buying all the assets that will be used for creating this 3D e-commerce market of the future. For this reason, a lot of money that will be raised in the sale will go into the platform’s development while some will be invested in marketing.

The pre–ICO had commenced on December 1 and will go until January 6, 2018. Once the pre–ICO is finished, the main sale will go live. This sale will start from January 7 and will finish on January 31. The hard cap set for this specific ICO is 250 million VIT tokens.

As per the sale’s price, 1 VIT token is priced at USD 0.30; this price is applicable in the pre–ICO phase only. The price will steadily climb until the value of each token is USD 0.65. In the main ICO event, the price of each token will hover between USD 0.70 and USD 0.90.

ICO details

  • Coin name: VIToken
  • Symbol: VIT
  • ERC20 compatible: Yes
  • Total coin supply: 250 million
  • Founder and key employee allocation: 40 million
  • Public allocation: 180 million
  • Advisors fund allocation: 25 million
  • Bounties and rewards: 5 million
  • Decimal places: 2
  • Pre-sale starting date: November 27, 2017
  • Pre-sale End Date: January 7, 2018
  • Pre-ICO Starting Date: January 9, 2018
  • Pre-ICO End Date: February 13, 2018
  • ICO Start Date: February 14, 2018
  • ICO End Date: March 13, 2018
  • Hard Cap: Total tokens 250 million for this ICO

In the following table, ViMarket’s five-year budget of operation is given. The budget is a realistic representation that is closely based on the team’s experience of working inside the VR ecosystem.

ViMarketYear 1Year 2Year 3Year 4Year 5Total
Operations
    Headcount710152020
    Expenses$3.2m$3.6m$6m$8m$8.8m
    Rent$400k$600k$700k$800k$920k
    Legal$120k$132k$140k$160k$172k
    Software$40k$52k$80k$100k$100k
Product
   Headcount1215203035
   Expenses$6m$7.2m$8m$9.6m$12m
Marketing
   Headcount1215203035
   Expenses$6m$7.2m$8m$9.6m$12m
Governance$480k$540k$800k$920k$1.2m
Total Headcount3145558090
Total Expenses$16.2m$19.32m$23.7m$29.16m$35.20m$123.64m

The purpose of the ICO

The main reason behind rolling out the ViMarket ICOs is to lay hands on the inventory and to form commercial partnerships with merchants. And such a partnership can only be formed when the users buy tokens developed by the community of 3D modelers and content creators.

The primary USP of this model is that the merchant sponsors will get to advertise their products in a whole new, immersive way; thanks to VR. Because of this USP and many other features of the ViMarket business model, these tokens can possibly become a good investment option for all those planning to speculate in ICOs as  BunnyTokenSealStreamityDaricoBountieFintechbitKaratBankHeadStart in the coming time.

ViMarket verdict

From the facts that have been shared through the company’s whitepaper and from its novel concept, this 3D asset marketplace ticks all the right boxes to become a rock-solid investment. The company’s team has done a good amount of planning and has rich experience under its belt. Further, there are no red flags as such and the entire investment plan looks so promising.

Because of this, it is possibly a great idea to get some VIC tokens before the sale ends. If, however, you have a few doubts regarding how the value of this token will move in the coming time, then it makes sense to go through ViMarket’s whitepaper without wasting any more time.

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