Selling cryptocurrencies to raise funds for companies is nothing new, but using cryptocurrencies to purchase company shares is different. Leading virtual reality platform Voxelus said that users can now purchase Voxelus shares through virtual reality currency Voxels (VOX).
Founded in 2015, Voxelus allows users to create VR games and experience virtual scenes, all without the need for users to write their own code. The company has announced that they will provide up to 33.3% of the equity in exchange for 15% of Voexl currency circulating in the market.
This is the first time history can purchase shares of the issuing company through cryptocurrency.
As a cryptocurrency in the game, Voxels is the basis for all sales and e-commerce, and is called "a revolutionary blockchain product." Voxels combines the "proof of work" security behind Bitcoin and a unique checkpoint server to prevent potential network attacks.
If all the cryptocurrencies in circulation are added together for conversion, the holder will own one-third of the company's equity. The redemption booking will be conducted in the first quarter of 2017 and will be a one-time deal for Voxel coin holders.
Voxel currency began circulation on March 31, 2016, supporting digital currency exchanges such as Bittrex, Poloniex and ShapeShift. At present, the market value of Voxel is about 342,068 US dollars, equivalent to 440 bitcoins, and the total value in mid-July was more than 2.6 million US dollars. Now you can buy 92 Voxel coins for $1.
The Voxelus platform includes Voxelus Creator, Voxelus Viewer and Voxelus Marketplace. The Voxelus Creator is a 3D design program for PCs and Macs; the Voxelus Viewer browser is compatible with PC computers, Oculus Rift, and Samsung VR devices; and Voxelus Marketplace allows users to purchase Voxel content and games from the Voxelus ecosystem using Voxel Currency.
Voxelus was founded by a group of Argentine developers led by Halsey Minor and Martin Repetto. Halsey Minor founded CNET, a well-known technology news site. He is also a co-founder of Google Voice, Salesforce, OpenDNS, Uphold, and Rhapsody. Martin Repetto is a senior practitioner in the Argentine software market.
Martin Repetto has also developed "Atmospheric Adventure" of a famous massively multiplayer online game. This MMOG game won second place in the TechCruch 50 contest in 2008.
Prior to joining Voxelus, Repetto was the executive director of Minor Studios and was responsible for managing a team of more than 20 people. In addition to Repetto and Minor, Maximo Radice is also a co-founder of the company. He has been working in the software industry for 14 years and is mainly responsible for developing games.
1. Shares
33.3% of the shares are equivalent to 3.15 million Voxel (VOX) and the exchange process will be completed in the first quarter of next year.
As for why the company will launch a scheme to exchange shares for cryptocurrency, Repetto, executive director of Voxelus explained: "We firmly believe in VR currency, Voxel's future, but we hope that users who share the same vision will participate in the company's success in another way. â€
Taking into account that the company itself has a large number of Voexl coins, rising prices caused by rising market demand will increase the value of the company. In addition, the company can also use Voxel currency to purchase content to help it increase its value. The use of blockchain also makes it easier to transmit and receive value.
As a company, Voxelus conducts business development and marketing in Los Angeles, USA, and its R&D headquarters is located in Rosario, northwest of Buenos Aires, Argentina. A total of 10 employees are currently working on the project.
2. Exchange of shares
Repetto added: "We have decided to provide Voxel holders with a one-time option to exchange their Voxel coins for the company's shares."
This move will provide Voxel currency holders with the option to replace stocks, and at the same time provide valuable opportunities for everyone to purchase shares in the company.
The company will specify a minimum investment in early 2017, but regardless of the outcome, this will give us a glimpse into the future of virtual reality and gaming space.
3. Online Form & Wallet
Specifically, Voxelus will provide an online form and wallet address for the transaction. Investors wishing to participate in this transaction will need to provide additional information at the time of quotation.
The transaction is not mandatory, Voxel coin holders can choose to continue trading on Bittrex, Poloniex and ShapeShift trading platforms, and these transactions are still the only way to purchase VR Assets, games and the world in the Voxelus market.
In terms of content, VR Asset can be from car worlds or brand-sponsored car tracks and so on.
Repetto said: "Now we have many different kinds of content and the world in our platform."
4. Conversion ratio
The duration of the exchange plan is one month, with a fixed exchange rate of 1.058%.
The recycled Voxel currency will be used for the next round of financing, with no more than 1 million Voxel coins issued each month, which accounts for 0.5% of all unprocessed Voxel coins (6% per year).
For the next round of financing, Repetto said the company could "sell a limited amount of Voxel Dollars" for operations and "buy branded content."
The shares redeemed will be common shares of Voxelus. With no preferred shares issued, all participants "will be on an equal playing field with founders, early investors and employees."
5. New technology plan
Repetto explained: "We will use these funds to establish early leadership in the VR content space. We have some new technical plans to further strengthen our user interface and brand content transactions, which we are preparing for the next few weeks or several Announced in the month."
He also said that the company will soon demonstrate "exciting new features" of Voxelus. Repetto also said in an announcement: “We expect that there will be many announcements from now to the exchange period.†However, he declined to provide specific details.
He finally added: "We believe that 2017 will mark the beginning of the VR market. Most games will have game currency. But only Voxel coins have value beyond the game. We expect to be widely replicated over time. â€
2 in1 Handheld Stick Rechargeable Vacuum Cleaner
2 In 1 Vacuum Cleaner,2 In 1 Stick Vacuum Cleaner,2 In 1 Cordless Vacuum Cleaner,Rechargeable Stick Vacuum Cleaner
Ningbo ATAP Electric Appliance Co.,Ltd , https://www.atap-airfryer.com