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November 15 2017

ICO Alert Report: Spectiv

ICO Alert Report: Spectiv

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ICO Alert Quick Facts

  • A virtual reality streaming platform with an alpha and content creator partnerships.
  • ICO begins on December 8, 2017 with a 40% bonus for contribution on December 8.
  • Spectiv tokens (SIG) are ERC-20 tokens and will be distributed 30 days after the completion of the ICO.
  • SIG tokens are priced at $0.50 per token, not including the bonus.
  • Full platform is set to launch early 2018.

What is Spectiv?

Spectiv is a dedicated media platform where users can stream their VR video experiences to the world, and where others can enjoy those experiences from the comfort of home. Virtual reality is one the most exciting technological innovations of the century because it enables the world to interact in ways we never thought possible. VR is a popular topic right now because we are at the most formative time in the VR revolution. The world recognizes that there is still so much more to come that is beyond our imaginations.
— Dylan Senter, Co-Founder and CEO

Q&A

ICO Alert: How does the Signal token protocol (SIG) function within the platform and why is it needed?

Spectiv: As virtual reality is still an emerging technology, most VR startups today face the challenge of mainstream adoption. With that said, we knew we had to do something especially strategic to drive engagement to the Spectiv platform. We found our solution in the blockchain and developed a framework for the Signal Token Protocol. This protocol decentralizes the exchange between advertisers and attention influencers (i.e. publishers, viewers, curators), distributing greater value among all parties in the ecosystem. Spectiv will implement this protocol with its VR content to incentivize users to share and engage with the platform. We architected this protocol specifically for use within the Spectiv platform, but we are building it so that it can be used by any media platform.

ICO Alert: How do the Spectiv VR use case and the signal token protocol function together for those looking for VR content and those interested in providing VR content?

Spectiv: Publishers who provide VR content will be rewarded in Signal Tokens as users view their content. Viewers will be driven to engage with Spectiv’s content through social signals generated by friends and influencers, known as “curators.” These curators are rewarded in Signal Tokens by sharing links to Spectiv content. In this way, Signal Token rewards to curators create a strong incentive to share Spectiv content and drive new viewers to VR.

ICO Alert: What are the advantages that Spectiv holds over other smart contract based advertising platforms in the industry? Do you consider anyone to be competition?

Spectiv: There are two major smart contract based advertising platforms we’ve acknowledged: BAT and AdEx. BAT focuses on viewer rewards in the advertising ecosystem through its browser-based solution, Brave. AdEx is more directly comparable to Spectiv’s Signal Token Protocol, but does not incorporate curator rewards. We consider this to be one of our biggest value propositions, as today’s attention economies are majorly dictated by social influencers who share content. The Signal Token Protocol enables these influencers to earn rewards for generating signals to content. Generally speaking, yes, there is competition in this space. But while these competing projects are all tackling the same mission, each has its own unique approach. One of the most exciting things about our approach is that we will be able to adopt this protocol in our own media platform, providing a real-world first use case.

ICO Alert: Spectiv is planning on incorporating VR streams of live events, community-driven experiences, and original VR content. What partnerships have already been made for these three VR categories, as well as other VR content categories the team plans on adding?

Spectiv: We have entered in agreements with a number of VR content creators that can be seen on the Spectiv VR platform. We will directly pursue commercial broadcasting licenses after we finish the Spectiv beta phase and move into the official platform launch.

ICO Alert: Other than through the use of the inherent incentive associated with the advertising smart contract system, how is Spectiv on-boarding new consumers, influencers, curators, and publishers to the platform? Is the target audience the cryptocurrency community or the general public as well?

Spectiv: The cryptocurrency community will make up our grassroots beta user base. This is extremely valuable for early development, but it is not our target audience. We aim to reach two general groups: existing VR enthusiasts and individuals interested in the VR space. Outside of the Signal Token Protocol implementation, we are driving new users to the platform through strategic online marketing efforts.

ICO Alert: Through the initial use case of Spectiv VR, what amount of SIG rewards can viewers expect to receive from engaging with advertisements?

Spectiv: This will depend on the unique conditions set by the advertiser. One advertiser may be willing to reward, for example, 0.1 Signal Tokens to a viewer for engaging with their ad, while another advertiser offers 0.2 Signal Tokens. This creates a competitive/transparent marketplace for the exchange of attention.

ICO Alert: Spectiv VR plans to stream live events. One of the largest issues with streaming live events is fraudulent streams. How will Spectiv ensure this does not happen to their live event streams, now or in the future?

Spectiv: Live streams of commercial events will only be hosted on the Spectiv platform through broadcast license agreements with relevant organizations. Users who fraudulently live stream commercial events will be removed from the platform. Viewers will be able to report these streams and the streams will get blocked accordingly.

ICO Alert: Do all users need VR software and/or hardware to use the platform?

Spectiv: Spectiv users will be able to view Spectiv content as scrollable 360 videos through their desktops and mobile devices with no hardware requirements.

ICO Alert: How far along is the project today and when can contributors expect to use the platform? What does the roadmap look like for the rest of 2017 and 2018?

Spectiv: The Spectiv Alpha V1 is live, supporting VR content upload, viewing, and channel management. Our current focus is on building the MVP for the Signal Token Protocol and integrating that protocol with the Spectiv VR platform. Our objectives for 2018 are to update and optimize the Signal Token Protocol and build out the next level of features for Spectiv VR, specifically live streaming and user-to-user interactivity.

ICO Alert: As a non-Spectiv question we like to ask for unique predictions for the ICO and cryptocurrency space in the future. Where do you see both in the next 3–5 years?

Spectiv: It is likely that there will be a major shift from utility token sales to security token issuances. Many companies today are engaging with the ICO process specifically to raise money to fund their business venture. These companies are doing so by forcing unnecessary blockchain utility “solutions” into their business model. This has made for a very crowded and awkward state of ICOs. Companies simply looking to raise funds can do so by issuing legally acknowledged security tokens. This approach to the ICO model will become more and more prevalent as the industry familiarizes with the regulatory processes of different international jurisdictions. Eventually, startups from outside the blockchain space will recognize the ICO process as a practicable equity fundraising alternative to traditional venture capital. This will lead to further growth in the ICO space.
Additionally, as we’ve seen over the last several months, the standards and barriers to entry for ICOs are increasing. There will be greater expectations for KYC/AML compliance, financial reporting, and general accountability. At Spectiv, we hold ourselves to the highest standards in all aspects of the ICO process and we are excited to see the rest of the space do the same.

ICO Information
The Spectiv ICO begins on December 8, 2017 at 2 p.m. GMT and ends on December 29, 2017. Spectiv tokens (SIGs) will be created as they are sold during the ICO. There is a hard cap of $40,000,000 that, if reached, will end the ICO. SIG is an ERC-20 token and can be purchased through the Spectiv website.

The price per SIG is $0.50 and there is a bonus schedule with four levels incentivizing early contribution that is as follows:

Level 1
December 8: 40% bonus (buy 1, get 0.4 free)
 
Level 2
December 9–15: 25% bonus (buy 1, ~0.25 free)

Level 3
December 16–22: 15% bonus (buy 1, ~0.1 free)

Level 4
December 23–28: 0% bonus (buy 1, ~0 free)

In order to participate, purchasers will need an ERC-20 compatible Ethereum wallet and will submit contribution to an Ethereum smart contract. SIG tokens will be sent to the same wallet that contribution is sent from. Exchange wallets should never be used to contribute or receive tokens.

Token Distribution Information
Tokens will be distributed to contributors 30 days following the end of the sale so that the an audit process can take place. There is no set number of tokens being created because tokens are created as they are purchased. The total amount of tokens will be set once the ICO ends.

The total amount of tokens created will be allocated as follows:

60%: ICO
20%: Platform reserve
13%: Management team option
4%: Escrow/advisors option
3%: Bounties and rewards

Use of ICO Proceeds
The proceeds from the ICO will be used as follows:

40%: Platform development
15%: Marketing and sales
15%: Content licenses
10%: Payouts for contributors
8%: Equipment
7%: General and administrative
5%: Legal fees

Team
Dylan Senter, Co-founder and CEO
Linkedin
Dylan is an accomplished entrepreneur who has founded multiple businesses over the past several years. He is currently a co-founder of Sensytec, a smart materials technology startup that has received over $3,000,000 in R&D funding to date. He is also an experienced e-commerce expert, operating his own Amazon storefront (SuperSenter) that generated >$500,000 in sales for 2016. His entrepreneurial achievements earned him honors and a scholarship from the Texas Business Hall of Fame in 2015. His specialties are in business development, marketing, and growth strategies.

Nick Ravanbakhsh, Co-founder and COO
Linkedin
Nick has a double major in accounting and entrepreneurship from the University of Houston. He is the CFO of Sensytec and competed with Dylan Senter in several business plan competitions across the nation. Together they won 1st place in three competitions and placed in several others. In addition to the work he does with Sensytec, he also co-founded Effortless Online Solutions, a digital development agency with Chris Pena, Spectiv’s chief of technology. Nick is a passionate virtual reality and blockchain enthusiast versed in sales, finance, economics, and emerging technologies.

Chris Pena, Chief of Technology & Development
Linkedin
Chris is a programming expert proficient in most coding languages. He is best known for his YouTube channel, Dev Coffee, where he live codes apps and teaches programming through in-depth video tutorials. He is the CEO and head programmer of Effortless Online Solutions, a firm providing app development and design services. Most recently, he has been working on a platform for energy accounting and technology solutions under his independent firm, Rise Services. Chris has been active in the technology scene since he was a child and has a passion for keeping up with and utilizing cutting-edge technology. He has developed several commercial softwares and has experience managing teams.

Ramon Hernandez, UI Developer
Linkedin
Ramon holds a bachelor of fine arts degree with a focus in graphic design. He has done work for several local organizations in Houston through his independent design firm, RFHgraphics. His experience is in design, UI/UX, branding, and packaging. Ramon is a remarkably talented artist with a unique interest in the operations side of the projects he designs for.

Bryan Bellomy, Ethereum Developer
Linkedin
Bryan is an experienced full-stack developer and entrepreneur, currently holding the title of CTOat ListenOnRepeat, a popular music discovery and curation service. The companies he founded previously have focused on a wide range of technologies, from real-time video processing to mobile applications to audio synthesis and music production tools. In addition to his experience with media tech, he has a profound passion for the cryptocurrency space and is excited to find the confluence of these two interests at Spectiv.

For a full list of team members please visit the Spectiv team page.

Social Media
Bitcointalk
Twitter
Linkedin
Facebook
Slack

View the Spectiv Website here.

View the only comprehensive list of active and upcoming ICOs here.

References
(1) Spectiv Website, Spectiv, (2017)
https://www.spectivvr.com/

(2) Spectiv Whitepaper, Spectiv, (2017)
https://drive.google.com/file/d/1-0FIscX2hLgqjZ3AAeB1aKd3TnN68_Bj/view

Topics: Blockchain, ICO, Cryptocurrency, VR, Investing