Spectiv VR Signal Token SIG ICO, found online at SpectivVR.com, is preparing to launch its ICO this December. Find out how it works today in our review.
What is Spectiv VR Signal Token SIG ICO?
Spectiv is a virtual reality platform that aims to be a type of social network for VR content.
The platform is catered towards VR content producers – those who make virtual reality content – and VR content curators – those who refer content to people who are interested in them. Viewers can also earn rewards through the platform.
Whether you’re making, curating, or just viewing VR content, all of these activities are valuable to advertisers. Advertisers are willing to pay for all of these services. Spectiv wants to allow advertisers to easily pay VR distributors for all of the above services.
There are two components to Spectiv: there’s the Spectiv platform, which is a VR video sharing and curation platform (like YouTube for virtual reality videos), and then there’s the Signal Token protocol, which was made by the same team and is designed to create a cryptocurrency-based incentive system for the VR media world.
The Signal Token protocol is an open source platform that can be used by any video network. The first implementation of that platform will be through Spectiv.
What Problems Does Spectiv Seek to Solve?
The main goal of Spectiv is to avoid the high intermediary costs charged by advertising platforms. Today’s advertising platforms – like Facebook, Google, and YouTube – connect advertisers with internet users. However, they also charge high fees for this service. Users don’t get paid to view advertisements or content, and advertisers pay more than they need in order to cover the overhead expenses of the ad network.
That’s why the Spectiv VR introductory video poses the following question:
“What if there was a way to decentralize the monetary exchange between online advertisers and attention influencers – a way to help everyone in the attention market and put the power back in their hands?
That’s where Signal Tokens come in.
How Do Signal Tokens Work?
Spectiv revolves around the use of Signal Tokens. With Signal Tokens, or SIG, participants are rewarded for the role they play in the market. Those participants include content curators, producers, and viewers.
Here’s how it works:
- You watch a video online; you like that video, so you decide to share it with your friends
- That video has an advertisement at the beginning
- With the Signal Tokens protocol, you generate a unique link to that video; that link is associated to you and tracks how much attention and traffic you drive
The protocol uses smart contracts and “Signal Analytics”. You’re rewarded based on how much traffic you bring through the link. There’s a smart contract between online advertisers and you, and the smart contract automatically executes payments based on the conditions of the agreement – say, paying a certain rate for a certain number of viewers.
The above example referred to a content curator being rewarded through the Signal Tokens protocol. However, the protocol aims to reward all participants in the VR ecosystem.
A VR video viewer, for example, could receive a reward for clicking on ads. Content creators, on the other hand, could monetize their content by posting ads with their video.
The end result is the Signal Token protocol, an “open source protocol that allows any media-based attention market to build upon seamlessly and integrated within their platform.”
Spectiv is the first implementation of the Signal Token protocol.
How Does Spectiv Work?
The Signal Token protocol can be used by any media-based attention market. It can be used to monetize a variety of media sources and streaming platforms. The first implementation of the protocol, however, will be through the Spectiv platform.
Spectiv is a community-driven virtual reality streaming platform. Spectiv claims to drive engagement differently than anyone else. The platform uses the Signal Token protocol to drive exposure to VR content. Viewers are rewarded for sharing, curating, and viewing VR content.
Spectiv will feature a library of virtual reality content. However, it also aims to be a source for VR streaming content – like live VR streams from sports matches or concerts.
Overall, Spectiv aims to be the YouTube of virtual reality videos online, with a superior incentive system in place to reward viewership, curation, and content production.
The Spectiv VR ICO
The Spectiv VR Signal Token SIG ICO for Signal tokens (SIG) starts on December 8, 2017 at 7:00 UTC. The ICO is scheduled to end on January 8, 2018. An early access period will begin on December 5.
60% of the tokens are being sold through the crowdsale, with 40% set aside for company reserves, which includes a platform reserve fund, management team fund, escrow and advisors fund, and tokens for bounties and rewards.
SIGs will be sold at a fixed price of 1 ETH = 650 SIGs. The token sale will be capped at $40 million USD.
The SIGs ICO will have a traditional bonus system. The earlier you participate in the token sale, the bigger your bonus will be:
- December 5: Early access (60% bonus)
- December 8: Pre-ICO (40% bonus)
- December 9 to 15: Pre-ICO (25% bonus)
- December 16 to 22: Pre-ICO (5% bonus)
- December 23 to 28: ICO (0% bonus)
Who’s Behind Spectiv VR?
Spectiv VR is led by co-founders Dylan Senter (CEO) and Nick Ravanbakhsh (COO). The company is officially called the Spectiv Company.
That company developed the Signal Token protocol specifically for use within Spectiv. However, they’ve also launched it as an open source platform that anyone can build on.
To foster early adoption of their VR platform, Spectiv has partnered with AirPano, an award-winning 360 degree video production company, as well as Jeremy Sciarappa, a VR video maker, among other members of the community.
Spectiv VR Signal Token SIG ICO Conclusion
Spectiv’s team has created the Signal Token protocol specifically for use within Spectiv, their virtual reality video sharing platform. That platform will provide a real world example of how the Signal Token protocol can be used to incentivize media viewing, sharing, and curation.
To learn more about Spectiv, visit the platform online today at SpectivVR.com. The token sale for Signal Tokens (SIG) begins on December 8.