1. Crowdsale, presale & whitelist
When Will the Vice Industry Token Sale Start?
The Vice Industry public Token Sale commences on 20 February 2018 at 11 am EST (NYC time). For the latest updates on timing, please connect with us on social media, and subscribe to our email newsletter.
How many Vice Industry Tokens (VIT) will be available in the Token Sale? How many will be created in total?
2 billion VIT are available in the crowdsale. In the genesis (initial block) we’ll create 4 billion VIT. These tokens will be allocated as follows:
Vice Industry Token Inc: 1 billion tokens;Crowdsale: 2 billion tokens;Steem Holders: 400 million tokens;Strategic Partners, Advisors & Presales: 600 million tokens.
Is there a minimum or maximum of tokens I can buy during the public crowdsale?
Yes. During the public crowdsale, the minimum purchase is 2000 VIT – approximately US$100 worth of ETH.
What happens if all the tokens aren’t sold in the crowdsale?
If the 2 billion tokens allocated to the crowdsale are not all sold at the end of the sale period, they will revert to the ownership of Vice Industry Token Inc.
Is there a pre-sale?
Yes there was and is a private pre-sale event for the Vice Industry Token. The presale opened on 15 January 2018. Contact firstname.lastname@example.org for more information.
What the advantages are for buying in the pre-sale, vs buying during the main crowdsale?
Pre-sale buyers will receive a 30% bonus in tokens.
This effectively means that instead of paying the equivalent of US$0.05 per token, you will pay US$0.038 per token.
Can I invest in the presale and pay with cash by wire transfer?
No, we only accept Ether. Please read the Pricing & payments FAQs for more information.
How do I confirm I am a accredited investor?
You do not need to be an accredited investor for the Vice Industry Token Crowdsale, it is open to all participants, no KYC required either!
Are there geographic restrictions for participants of the Token Sale?
The Token Sale is open to anyone who wishes buy VIT. We advise participants VIT is not a security – it is a utility token to be used in the VIT network of websites and partner sites.
We politely remind buyers that they are responsible for ensuring they are compliant with their local regulations and laws.
What is the Steem Holder’s airdrop?
When VIT launches, 400 million (10%) of the genesis tokens will be airdropped to a snapshot of Steem holders of block number 18,500,000 on the Steem Blockchain. The date of the snapshot is December 29, 2017.
2. Pricing & payments
How much is a Vice Industry Token (VIT)?
Each VIT will be sold at at a fixed amount of ETH, equivalent to US$0.05 at the beginning of the public crowdsale.
Which currencies and payment methods will be accepted in the Token Sale?
YOU CAN NOT USE AN EXCHANGE TO BUY VIT UTILITY TOKENS IN THE CROWDSALE. YOU MUST USE A COLD STORAGE WALLET LIKE A NANO S, TRAZOR OR KEEPKEY, OR OTHER WALLET LIKE MYETHERWALLET (MEW) OR OTHER ERC20-COMPATIBLE WALLET
The only payments we’re accepting are Ethereum, from an ERC20-compatible wallet, whose private keys you own and control. This means you can’t pay with ETH from an Exchange wallet.
Need to find an ECR20-compatible wallet? Check out this list from TokenMarket for guidance.
WE ARE NOT RESPONSIBLE FOR ANY ETHER SENT FROM EXCHANGES. PLEASE DO NOT ASK US TO HELP YOU RECOVER IT. WE DO NOT CONTROL THIS.
Are there any discounts available during the crowdsale?
Yes there are, please contact us for further information at: email@example.com.
3. Refund period
What is the proxy token & refund contract period?
Our refund contract will allow any holder of a proxy token, who purchased their token in the public crowdsale and who did not move their funds from the account they received it at, to redeem each Vice Industry Proxy Token for the original price paid in ETH at the beginning of the crowdsale, until the crowdsale closes.
After the crowdsale closes, the proxy tokens will be redeemable for the native Vice Industry Tokens from Vice Industry Tokens Inc.
4. Bounty campaign
How can I join the Bounty Campaign?
How do we log our work for the bounty?
Please chat to our Bounty Campaign Manager on our bounty-campaign focused Telegram channel
5. About Vice Industry Token (VIT)
What is Vice Industry Token (VIT)?
Vice Industry Token (VIT) is a blockchain-enabled network for the Vice Industry that re-imagines and creates a revolutionary and disruptive commercial model between viewers and the content they desire to consume – namely explicit adult materials. With Vice Industry, everyone gets paid to watch porn (tm).
Vice Industry Token – VIT – is a cryptocurrency and utility token that powers the Vice Industry Network.
Watch our 3-minute video for a brief overview: https://youtu.be/9yQXfvk3fy0
Why does this solution need blockchain?
Blockchain technology is key to both the underlying media platform that tags and identifies content ownership, as well as the billions of micropayments that will be made when content producers, curators and viewers all get paid to watch porn (tm)
Which blockchain does the Vice Industry Token run on?
Vice Industry Token will be run as its own blockchain, powered by the same underlying software that the Steem blockchain uses but provisioned to work optimally with our set stack of applications.
How is the Vice Industry Token different from Spankchain and other similar cryptocurrencies?
The main difference is we pay you to watch and they all ask you to pay to participate. Spankchain and the rest are all narrow, single-use tokens with a small target and user audience. They provide virtually no real utility or value when you stand back and look at it. In comparison, VIT is a global multi-use token that pays participants in a huge, global market with billions of users. We estimate VIT will be one of the most widely used global cryptocurrencies in avery short period of time. Learn more in our blog post
How does Vice Industry Network function differently from websites / tube sites?
Regular websites leave content vulnerable to piracy and theft, meaning that content creators never get paid based on the real views of their content. In contrast, content on the Vice Industry Network can be tagged, meaning that any use or re-use of the content will result in the original creators being paid. Micro payments can also be made to performers.
Will the adult nature of the content on the Vice Industry Network limit its availability in certain countries?
Yes, this is possible. However, it is possible to utilize the blockchain to reward attention in ANY economy. Please contact us in the future to see if you can adapt our blockchain to your project!
How does content tracking work?
Content is tagged with metadata to enable us to identify ownership. This enables us to correctly identify and pay the original content creator even if content is mashed up or used without permission. We can tag the content directly to ensure micropayments to performers as well such is the power of the VIT.
Will Vice Industry Tokens be released on Ethos?
No. We have our own wallet and an inbuilt exchange that’s part of our application stack. This allows similar tokens built on the Graphene/ Chainbase/ Bitshares platform to be exchanged internally on the Vice Industry Network.
Will proxy tokens be turned into regular tokens on a 1:1 ratio? (This would mean 4 billion tokens would equate to 200 million ETH.)
Tokens will be converted on a 1:1 basis.
How are tokens generated?
VIT tokens will be generated as a direct result of user engagement on a “Proof of Brain” basis along with other well founded principles of cryptocurrency attributes as we decide to facilitate.
Viewers will undertake set digital engagement tasks – they will vary depending on what is set by the content creator and curator, and will include engaging video in such a way the rewards sequence (mining of VIT) is activated and then proven for rewards including upvoting or leaving comments and other such means as we employ to enable PoB to activate our rewards mechanisms. These same actions will also earn them a fraction of the tokens that they have generated.
What is “Proof of Brain”?
Token-based systems that reward users for their contributions to a community need a mechanism to evaluate and establish the social value of these contributions (in this case, content). This is called the “Proof of Brain” concept.
By using “Proof of Brain”, the Vice Industry Network will be able to identify and quantify the value of content contributions, and encourage and reward participants for contributing more valuable content.
How do the viewers earn tokens? What is the ratio of coin to action?
Is Vice registered with the SEC?
Viewers earn tokens by performing set digital engagement tasks while viewing content. The task will vary depending on the content creator and curator, but might include watching a video for a minimum period of time, upvoting or leaving comments.
How much VIT each party – content producer, creator and viewer – earns will also vary. We anticipate that on average users will visit twice daily for 5-6 minutes. How many tokens they generate as single users will be directly attributed to how many people are using the network. The more people are engaged, the more tokens are generated.
Will the B2B assistance program be powered by VIT, or is it a separate service?
We will be creating teams of implementation technicians and developers to help Vice Industry businesses and partners integrate the VIT blockchain into their websites and content. We may or may not charge a fee depending on the size and complexity of integrating the partner site and developing a new custom User Interface for tokenizing user engagement and website traffic.
Team & industry backing
Who are your key team members and advisors?
Our team includes:
CEO – Stuart Duncan, adult visionary, broadcast pioneer & former C+ developer.CMO – Eric Helsel, Chief Media Officer and internet marketing leader.CTO – Andrey Kostin, P2P crypto expert and Java developer.CSO – Bill Heilmann, Chief Strategy Officer and media agency heavyweight.Kelly Holland, Adult Content producer, adult executive and film director.UX/UI – Michael Koroshun, Front-end specialist.
Will you continue to grow your tech team?
Yes, we aim to continue to build out our tech team with additional expertise. We are currently seeking additional C++ developers, Rails developers and JAVA and fullstack applications developers.
What adult entertainment industry backing do you have?
Vice Industry has partnered with leading adult entertainment companies, including Penthouse, Exxxtasy, Playmen, RedHot TV and SkineMaxHD and many more. View a full list of partners
Who are your technology partners?
As a fork of Steem, we will be actively developing technology for the Steem community as well as developing Smart Media Token functionality.
Is Vice registered with the SEC?
No, because VIT is not a security.
What tech team members or advisors have you on board bearing in mind the critical part that the blockchain plays in this project?
To answer you directly, three of us at the company have direct experience with Graphene. In addition, we have active advisor partners helping who were involved in founding Ethereum and Steem and another who is currently the head of technology at a publicly traded global blockchain company. Because of the nature of Vice Industry Token, they insist to remain anonymous.
Because we need to rely on a large number of implementation teams to engage our technology with partner websites, we will be hiring more developers and web technicians than the 16 people we currently have on staff.
We already have our blockchain functioning and have been using it to test and work on our own Steem soft fork and what we consider our own smart media token protocols. We will be releasing our software and GitHub very soon.
Our Social Platforms
Medium – https://medium.com/viceindustrytoken
Steem – https://steemit.com/@vicecoin
Facebook – https://www.facebook.com/vicetoken/
Twitter – https://twitter.com/ViceToken
Telegram Announcement – https://t.me/viceindustrytokenANN
Telegram Discussion -https://t.me/viceindustrytoken