The Altair VR is announcing the launch of a Pre-ITO for its global VR platform. This project is directed at learning about the world in all its aspects and subjects, using a platform managed by its community through blockchain. The project offers functionality to create and distribute VR experiences through scenarios offered and created by the community members themselves.
The platform’s internal economy is built on tokens; any access from outside is permitted only in exchange for tokens, which stimulates growth in the project’s economy. In addition, reputation points also serve to evaluate the professional skills of the ecosystem’s participants.
The first phase, the Pre-ITO, launched on January 29, 2018, and will extend 15 days or until 10,000 ETH is raised. Participants will receive a five percent bonus.
The second phase, the ITO, will begin on March 12, 2018, and conclude on April 30. The ITO will also offer bonuses to early participants.
All tokens for the team will be frozen for one year. Tokens in the bounty fund will be frozen for 45 days after the ITO concludes. 50 percent of advisor tokens will be frozen for three months.
50 percent of tokens for presale participants will be frozen for three months. There will be no additional token issuance. The minimum purchase at the ITO phase will be 0.05 ETH.
After the platform is launched, one percent of the daily token transaction volume will be burned up by a smart contract. This will continuously increase demand for the token. This burning of tokens will automatically cease once only 100 million tokens, i.e., 10 percent of the initial offering, remain in circulation.
History is interpreted from different points of view in different countries. The Altair VR project will make it possible to study the same events from entirely unexpected perspectives. This project will collect dozens of views on a given historic event in one place, making the process as transparent as possible.
Many countries have instituted internet censorship and are blocking sites that disseminate undesirable viewpoints, including persecuting website authors and owners, as well as the hosting platforms where the problematic resources are stored.
Now there is a solution; blockchain technology allows for data to be stored in a decentralized fashion. Thus there will not be one specific server over which a specific country would have jurisdiction.
“In creating a platform with community moderation, without central management, we are merely acting as system coordinators. The content will be chosen and created by the users themselves,” comments Konstantin Urvantsev, Altair VR CEO and founder.
The token may be of interest on account of two key factors:
- Access to the AltairVR platform will be open to any user who holds ALT tokens. Tokens can be acquired during the ITO, when accessing the platform, or on exchanges. The platform cannot be used without tokens.
- In addition, tokens will act as internal settlement units. The platform will have both free and paid experiences/apps. Access to the paid features will be granted in exchange for a token amount set by the author of the experience. Users will have to buy tokens on exchanges to use the platform to its full extent, which will increase demand for tokens and therefore raise their value.
Participating in the ITO gives the opportunity to purchase early-phase tokens with a bonus, thereby securing the option to use the platform at a discount, as well as to participate in and influence community life.
Every day, a smart contract will burn up one percent of the daily token transaction volume, until the total number of tokens in circulation decreases to 100 million (10 percent of the initial amount). Since the Ethereum-based token can be subdivided down to eight decimal places, the decreased number of tokens will not create difficulties in payment, but will instead avoid inflation and decreased demand for the token.
In total, one billion ALT utility tokens will be issued. Of those, 500 million will be open for purchase.