VersoView AMA (27/10/21)
I am Dr. GemHunter and I am running the AMA with @moody_alex today. If you don’t follow me on Twitter yet, here’s my link: https://twitter.com/Dr_GemHunter 😉
Dr_GemHunter: I am happy to welcome you back with us today, Alex! Shall we begin?
Alex: It’s great to be back! Thank you for having me today! For sure!
Dr_GemHunter: Yeah great, then let’s start.
We have already had the pleasure several times, but there are some new members who may not know you yet. Therefore, I ask you to briefly introduce your background and your position at VersoView.
Alex: With pleasure! My name is Alex Moody and I serve as Director of Operations of VersoView. https://twitter.com/alex_moody
If people want to look into me they can check me out on Twitter or find tons of videos I’ve done live and like me the entire team is doxxed and well known in our industries.
Dr_GemHunter: Yeah, they can also be found on LinkedIn
Alex: My background is in launching businesses and brands and operational management for companies in aggressive growth phases, just like VersoView.
Yes indeed but please forgive me, I almost never use it and am terrible at responding to pms there 😂 Very available on Twitter and Telegram for the community though
Dr_GemHunter: Noice background, it fits perfectly 👀
Alex: It does and our team is quite diverse but all share past business successes which we leverage quite well for the success of VersoView.
Dr_GemHunter: Agreed! Thanks for introducing yourself! Then let’s move to VersoView
Alex: Ok!
Dr_GemHunter: VersoView is in the publishing sector and is presented as a story-first engagement platform with meaningful tokenized rewards. Please briefly explain what that means
Alex: Indeed. As we say:
VersoView is the engage to earn social media platform featuring meaningful tokenized rewards.
To understand this easily, think of the blockchain gaming innovation in Play to Earn with companies like Axies and then apply that to your time spent on social media.
When you participate in telegram channels, or facebook groups, liking and commenting, reading articles put out by your favorite companies on Medium or FB and sharing those or sharing the vid of your favorite influencers from youtube…
Dr_GemHunter: I see where this is going. Please continue
Alex: You add VALUE to those ecosystems but you gain nothing in return. In fact you get robbed a little… your data is mined and sold, your privacy compromised all while you “work for that platform”. VersoView fixes this.
Dr_GemHunter: Never seen it like this before, but you are absolutely right!
Alex: When you add VALUE to the ecosystem, you get VALUE in return with Social Tokens through our engage-to-earn paradigm.
It really flips the entire Web2 social media model on its head.
Dr_GemHunter: Yeah, I see. It’s genius, honestly
Alex: We have a pretty good team 😉. Our founders Julian & Steve have decades of being innovators in multimedia, tech and corporate publishing via their company Agency Fish, and it carries directly to us in VersoView
Dr_GemHunter: Just that the community knows, what Play to Earn can look like: https://twitter.com/automataemily/status/1453329812945133584?s=21. I saw this tweet this morning
Alex: We actually saw this as well 😂
Dr_GemHunter: It’s amazing, how big it can get. And you are doing the same in the area of publishing
Alex: We have a system in place to discourage bots and “reward farms” and keep it fair, but we’ll see how that goes when its live. Publishing is where it all began.
Dr_GemHunter: Yeah, it will be impressive. Please continue
Alex: The OpenView AI module that is the backbone of the VersoView platform is a revolutionary enterprise tool that disrupts publishing in a big way.
The need for this tool is what led Julian and Steve down the VersoView rabbit hole and ultimately to the foundation of VersoView and the Publish. Engage. Reward. platform that we have today!
Dr_GemHunter: Super interesting, how it has actually begun. I’ll also ask you a little about the AI-module at a later stage
Alex: Perfect!
Dr_GemHunter: As we spoke of Play to Earn
Social Token projects are big business. The best example is Chiliz with an mcap of $1.8B. In comparison, $VVT has an mcap of less than $5M. In the area of publishing, as far as I know, you have no competition. First of all, is this correct, that you are without competition in the market? Then, what is your strategy to build a large community with a correspondingly high mcap?
Alex: Awesome question and quite a bit to unpack here so lets start with competition…
On the digital publishing side there is a huge gap in the market. Low cost, bad options exist, and very expensive options that do a better job exist (apple news+ etc) but no one has cracked the code on how to merge rewards into content creation to drive engagement and create a symbiotic relationship between Content Creator, Audience and Influencers where EVERYONE wins…
On a strictly social media standpoint we have plenty of stiff competition..
BIG businesses. FB, Twitter, Medium, Instagram, Youtube, Telegram the list is long, and they all do some things well, and many many things wrong or poorly.
Dr_GemHunter: That sounds like, no real competitors, just bad choices
Alex: Indeed its not very positive for publishers looking for a digital solution.
To build on this thought, VersoView picked what works from many competitors and then set out to build something new and unique and “break the mold” if you will. I think we are close to succeeding.
Dr_GemHunter:
Question out of the blue: Do you also want to address these big companies, using your platform or tools?
Alex: We aren’t afraid to take them on…
I suppose if they want to Sub they can, but honestly we’ll just replace them.
Dr_GemHunter: Even better 👀
So how are you going to do this? Whats your strategy?
Alex: Blockchain is shaking the foundations of the world and the old guard is stuck in old thinking.
Dr_GemHunter: True to that!
Alex: Greed, privacy violations, thinking of users as a product instead of the core value of the platform have all led to disenfranchisement at the big social companies.
Go listen to FB 3rd quarter call from this week. They are getting crushed in the younger market. They now want to spend billions to rebrand to a “cool metaverse company” but people are smart and dont fall for it.
Dr_GemHunter: These numbers…!
Alex: ^ Facebook
Dr_GemHunter: So how are you planning to build a large community?
Alex: Right, the growth strategy. It starts with strong values and we have built that. Then it comes from our existing client relationships to grow the user base right away…
Our alpha mvp is live right now with Garuda Indonesia one of the largest airline in the world.
Our closed beta is running on the private servers of the largest privately owned bank in Asia…
Dr_GemHunter: Yeah, I will also talk about your clients, partnerships and signed MoUs in a while. The list is impressive by the way
Alex: Combined they have over 59,000,000 customers…. Thats just TWO! We have dozens
Dr_GemHunter: Wow, thats insane!
Alex: And more still every day coming on.
So its simple… we onboard the business. They onboard their community or customers and then the network effect kicks in.
Plus we have comprehensive marketing and business development plans to go along with all of that for Q4 and 2022 and beyond.
Dr_GemHunter: I see, sounds massive!
Alex: I believe it will be, but time will tell 😉
Dr_GemHunter: Amazing! This leads me also to my next question
You have a sustainable income model, which can be seen in the Whitepaper (by the way, I can only recommend it to everyone, it is extremely informative).
Alex: Anyone can access it here: https://versoview.com/downloads/
Dr_GemHunter: one sec, I’m adding the screenshot of it
What I see here is
$VVT is bought back from the open market through:
👉2.5% subscription revenue
👉5% advertising revenue (fiat)
👉6% advertising revenue (VVT buys)
Of which:
👉 50% is burned
👉50% goes into the staking reward pool
This leads to deflationary pressure. When can we expect the revenue model to kick in?
Alex: Ahh yes the deflationary Tokenomics, its such a big win for the company, community and for the sustainability and health of the ecosystem!
Short answer is VersoView 1.0 (open beta) somewhat in Q1 2022…
Long answer…Open Beta we will be offering a lot of incentives for content creators to try us out, in order to run scale testing and to gain some market share so the revenues will be muted in that early phase.
Dr_GemHunter: Thats like around the corner
Alex: As we move along in open beta we will also be phasing in a lot of the more complex features as well.
Into VersoView 2.0 sometime in 2022 probably Q2 which is the official LIVE RETAIL LAUNCH! Then we will have full functionality, social tokens, microtxs and even more and the revenues will be in full swing.
Dr_GemHunter: Sounds great, and with all your clients, partnerships etc., I assume we can expect a lot of potential costumers testing it out
Alex: So realistically I think very early in 2022 we see some of this happening but as the year rolls on it will really start to shine
Dr_GemHunter: Thats amazing!
Alex: Yes we believe so!
Dr_GemHunter: As we speak of your clients etc. You have quite a list of partnerships and MoUs so far. Allow me to list them:
Garuda Indonesia is particularly noteworthy, as it’s ranked in the top 10 worlds best airlines, with $4.37B in revenue and 38.4M passengers in 2018. How do these partnerships and MoUs fit into the publication sector and what added value do they have for the VersoView project? Feel free to explain using Garuda as an example.
Alex: Pretty powerhouse list tbh 🤌
Dr_GemHunter: Can’t agree more!
Alex: Garuda is a great example as our first Premier Client and the host of our Colours Magazine VersoView mvp which you can download right now in Google Playstore and the iOS app stores
Their inflight magazine is run on VersoView. The value add is immeasurable for us.
For one, we have one of the largest companies on planet Earth helping us in a TESTING PHASE of our tech which is simply unheard of normally.
Dr_GemHunter: Thats immense. And does it also means, that it’s accessible to all passengers?
Alex: All 33,000,000 of them yes. Its the ONLY way they can access the inflight entertainment durinf covid restrictions removing print from the flights.
This is due to the quality of OpenView for one thing, and the strength of the relationships built by Julian & Steve via Agency Fish over decades of acting as publisher for these mega corps.
Dr_GemHunter: yeah, AgencyFish is doing great!
Let me grab my tweet, I don’t have the numbers in my head
It’s amazing, and we can expect the same professionality with VersoView
Alex: Probably something….
Dr_GemHunter: probably…
Alex: The rolodex they have…
Dr_GemHunter: I can imagine, if they pull out their contacts for VersoView, ….
Alex: They have, believe me. Take Robert Palmer for instance…
Dr_GemHunter: Tell me more
Alex: An old colleague from the London days, and lead at Prism Consult.
He knows EVERYONE in Europe in publishing. And we partnered with Prism based on their relationship and Prism will be facilitating the on onboarding of tons of European publishers and businesses.
Match & Wood is AUS… the list goes on and on.
Dr_GemHunter: yup, it’s just amazing
Alex: And lets not forget Col and I run businesses and have rolodexes too… In AUS and the US. We have some reach as a leadership team…
Dr_GemHunter: Well, quite impressive! Your reach is insane
Alex: Rohit Silva the CTO 😉. Anyway its big.
Dr_GemHunter: If you don’t stop, I’ll have to buy more during this AMA as I can’t wait until we’re done here… lol. So let’s move on quickly 😉
Dr_GemHunter: NFTs are absolutely hyped at the moment. According to the roadmap, you will also release some next year. These are supposed to bring benefits for the owner, among other things. What can we expect here?
Alex: Yes absolutely these are coming quite soon and the first “batch” has already been earned by the early adopters of VersoView.
NFTs will be used as another reward mechanism on the platform, granting bonuses, benefits, special badges and reputation, specialized access etc
More details will follow but as the VersoView community engages with us, we seek to reward them just as we encourage the Subscribers on the platform to reward their audiences… NFTs are one way we do that and we will continue to build on that as we go.
Dr_GemHunter: Sounds great! Can you define “soon” and is there still a possibility to get one?
Alex: Open beta “soon”
Dr_GemHunter: lovely!
Alex: Minting of the first wave, the VersoRewards V1 Early Adopter VIP NFTs will happen early Jan right after the final eligible pool matures. No one else will ever be able to earn that one, but other opportunities will arise soonish. Maybe related to the Polygon migration and/or being early signing up for Open Beta 😉
Dr_GemHunter: oh thats great for newcomers 🙂
Speaking of Polygon leads me to my next question
Alex: Lets do it!
Dr_GemHunter: $VVT is currently on the ETH blockchain. 3 days ago you announced that you will migrate to the Polygon blockchain. You have now also announced yesterday that you will receive a build grant directly from Polygon for further development. What made you decide to migrate to Polygon, what do you expect from it and how will it affect the ERC20 token?
Alex: Yes we are so excited about this.
It has really let to a lot of new energy in the community and a lot of new communities joining with us and we expect that trend to really accelerate as we in partnership with Starter, continue to roll out this migration event.
Polygon was chosen for the lower gas fees, higher throughput, EVM compatibility and large and fully developed ecosystem infrastructure.
I talk a lot about it in this video, let me share it with you all, one second…
https://t.me/twcinvestments/67248
Dr_GemHunter: Thanks for sharing! I saw this video, it was great!
Alex: Lots of details and if anyone was wondering if I was a wassified pudgy penguin for real, you can see I am sadly, just a plain human 😂
As for how this migration effects the current ERC20 $VVT token…
Short answer is it doesn’t.
Dr_GemHunter: Why? long answer please 😉
Alex: ETH will continue to be supported and liquidity will remain on Uniswap and Bittrex Global. Think of this as adding to, rather than taking away.
More opportunities await the holders on Polygon, access to new reward mechanisms, lower fees, higher ecosystem engagement and of course the open beta soon.
But holders can also just stay on ETH, sit tight and nothing is forced upon them. No deadlines, no swaps… bridge if you want, or don’t.
Dr_GemHunter: I see, thats great! Especially with forced swaps and deadlines. I just missed one recently… 👀
Alex: Oof yes. No issues.
Dr_GemHunter: How does the announcement of the strategic partnership with Starter International fit in here? Starter is the leading startup, incubator and investor network for, among others, Polygon. What can we expect to see?
Alex: Its bigger than we can reveal yet, but you can already start to see the impacts… Doors opened, Polygon community amas happening, marketing and community growth at accelerated rates.
They have huge and excited investor communities on BSC, ETH, Polygon, AVAX etc and through our partnership we are telling the VersoView story to new audiences now!
Its big and its just getting started, stay tuned!…. Ohh Started… pun intended i guess 😂
Dr_GemHunter: lol 😄. Yeah, I’m excited, what this will bring us. Is there any eta, when you can reveal some more infos?
Alex: Now through the month of November will be non-stop news and updates strap in. This chain migration is NOT just one day and one moment, it is a whole event spanning weeks and months even featuring many partners and lots of wonderful advantages for our community!
Dr_GemHunter: wonderful!
Alex: Timelines are sketchy though
Dr_GemHunter: I’m really excited about the future
Alex: We never promise what we cant deliver and the actual dates are not precisely in our control as it involves a lot of tech, smart contracts, 3rd parties and so forth so when it’s ready, its ready and not before.
Dr_GemHunter: Yup, I already recognized it. We can really rely on your word. Thats rare in crypto, imho
Alex: We are pleased to announce we will make an announcement next week for the date of the big announcement!
Dr_GemHunter: Exactly. The last question deals with the future and you already mentioned it here and there, but please summarize: what is in the pipeline, and what can we expect in the future from VVT?
Alex: Right, it’s a lot and its exciting!
Here is the official roadmap from the website, but its much more than this!
Here and now, the community can expect all the exciting updates around the chain migration event to Polygon, new MoUs, new Partnerships, new reward and incentive opportunities rolling out throughout Q4 as we gear up for VersoView 1.0 our open beta in Q1 2022!
Dr_GemHunter: Alex, thats exciting!
Alex: Then during and following open beta its about expanding the feature set of the platform continuously: Content marketplace, social tokens, expanding the reward and reputation systems, social token exchange.
So so much in the pipeline for 2022 and beyond!
Dr_GemHunter: It’s so much and we can rely on your plans! I love it! I guess the community now got a feeling, why $VVT is a real gem
Alex: Indeed, maybe some features dont fit or work as we project and never make it in, but are always transparent and we enjoy sharing the vision as well as the now
Dr_GemHunter: Yup, thats correct
Alex: I always try to explain whats done, whats for sure and whats being worked on both from a tech perspective and a theoretical perspective.
Dr_GemHunter: Alex, it was a really great AMA! Is there anything else you’d like to say before I unmute the chat for the community questions?
Alex: You all are our most important allies in this process and we want to bring everyone with us on this journey!
Dr_GemHunter: Great words from a great DOO! So thanks a lot, Alex!
Alex: This has been great! Yes lets see what questions remain!
