1. Allowing early buying for a 100% bonus:
No funds have been raised yet...
We have been in discussions with a handful of buyers who have shown interest in being involved in Spectiv early. We have not followed through with these buyers because we are setting up the legal structure to allow us to handle early purchases, this will be done through a SAFT agreement. Now that we have this setup, we are actually planning to send out an email to everyone on our email list to allow them to participate in this raise if they would like. This email will be sent out next week. This is not a private collection of funds, but will be very limited and have certain requirements for participating.
We will only sell a maximum of $200K worth of Signal Tokens in this early sell. These funds will be strictly used to allow us to spend a significantly higher budget on marketing. This will benefit everyone involved in Spectiv, so there is no reason to denounce it. We will always make public any funds that we do raise, as any other respectable project has done. We are not desperate for these funds and will still execute a successful token sale without them, but if we do raise these early funds, their impact on the token sale will be nothing but positive.
As a note, the token sale had already been delayed when these discussions started. There was never a time when we were asking for money with only weeks before the crowdsale because it was already delayed.
2. Spectiv Demo:
As we explained when we announced the launch of the demo, it's purpose is to be a simple introduction to the idea of Spectiv. It is obviously not an Alpha or Beta version, but it does allow interested users to experience 360 videos and get a better idea for what we are building. We are currently working on the Alpha version of the platform, and expect to release the first version of the Alpha at a time close to the public crowdsale. The Alpha is expect to include the following:
- Full VR capability with mobile headsets
- Account and Channel creation for viewers, creators, and curators
- Integration of Signal Token protocol
- Video uploading capabilities
- Functional video interface and tipping system
- Much More...
Vibehub and Decentraland are building completely different platforms compared to what we are focusing on, so obviously their development will be significantly different. We are building a dedicated Virtual Reality platform which will be focused on VR/360 content. Essentially doing what Twitch did in gaming, but honing in on the growing industry of VR. The platform we are building is extremely valuable because we have the ability to partner with many other VR platforms.This brings me to my next point.
3. VR Partnerships/Competitors:
As we have mentioned in the past, we are in discussions with VR companies to create partnerships in this industry. We have connections with several other VR based start-ups due to a network of advisors who participated in Boost.VC, the largest VR accelerator in the world. Our platform is perfect for building relationships with other VR companies because it can seamlessly integrate with their platforms. For example:
Decentraland is building a virtual world where users can buy land and create anything within that environment. There have been people mentioning the idea of building theaters where users can come to together to share in watching VR videos. We can partner with Decentraland to integrate the Spectiv video hosting platform and make it the dedicated video platform in their app. This will allow their users to watch all of the content within the Spectiv platform in the the virtual theaters.
The same example can be used with Vibehub who is creating virtual hubs for users to connect with each other. Their demo shows a user watching and interacting with VR videos, but for the purpose of their demo they are hosting these videos within their app. In the long-term though, it makes sense for them to integrate other VR video apps into their platform as Oculus, Vive, Steam and Playstation have all done within their apps. This where Spectiv can partner with Vibehub.
4. Reasons for the delay:
We are delaying the crowdsale specifically because we want it to function under the highest standards for governance possible. The claim that the crowdsale was postponed with "scam" intentions is extremely incorrect.
We are simply ensuring that the business is set up properly and that the crowdsale is structured for maximum security. We could have held the crowdsale at our original August date, but we consider it our responsibility to provide a bona fide, tier one project for all of our future token purchasers. We are also working on ensuring that we follow all KYC and AML laws associated with collecting funds. There is a lot of work that needs to be done on the legal end. Once this has been completed, it will take approximately 1-2 months for approval from the Mauritius government. This approval process makes up the majority of our delay. All in all, we're excited about the confidence we are inspiring in the crowdsale with our new plans. With the help of Sutton Stone, we're paving the way for the best US based crowdsale process.
