With the growing development of virtual reality, the world is beginning to see previously unreal possibilities become commercial realities. As such, many speculate VR to be the next revolutionary tech boom. As a result: 1. The VR industry is projected to grow from $1B in 2016 to $30B+ by 2020 2. Physical VR technologies (headsets, cameras, etc.) will develop and scale rapidly 3. Creating and viewing VR content will become commercially adopted on a large scale 4. Emerging VR platforms and services are positioned to achieve major engagement Currently, the industry is focused on developing the technologies that will make mainstream VR engagement viable. Spectiv utilizes these technological developments to create a dedicated VR streaming platform with mainstream capacity, enabling users and organizations to stream their unique virtual reality experiences to the world.
Spectiv will be driven by a two token ecosystem, with “Specs” operating as an internal platform currency and “Sigs” operating as a decentralized ERC20 token built on the ETH blockchain. Sigs will be created and distributed through a token creation crowdsale.
The crowdsale will open on 08/14/2017 at 2:00PM (GMT -5) and will run through 09/04/17. The total number of Sigs created will be determined by how many Sigs are sold. The crowdsale will be capped at $40 million USD. Users will be able to buy Signal Tokens with ETH via smart contract. Based on timing of purchase, some buyers will benefit from token bonuses for early participation. The crowdsale will end immediately if the $40 million cap is reached.
At the most fundamental level, we are implementing an escrow that will oversee and regulate release of funds – all crowdsale funds will be received to a multisig wallet controlled by 3 independent actors. Funds received through crowdsale will be locked in the multisig escrow wallet until Sig tokens have been adequately distributed to all buyers. Once Sigs have been distributed, escrow actors will be able to approve the first release of funds. These funds will be unlocked evenly over three separate disbursements, contingent on the achievement of predetermined milestones and subsequent escrow approval.