The blockchain-based online marketplace ViMarket has announced its token generation event (TGE) at prestigious South by Southwest Interactive Festival (SXSW) in Austin, USA, that took place from March 9 to March 13, 2018. The announcement was originally scheduled in January 2018, but had finally been launched after achieving full compliance under the guidance of token offering regulators in the US jurisdiction.
ViMarket Technical Visionary Guy Robert explained that the token sale launch had been delayed as the company was committed to holding a crowd funding campaign that met all legal requirements, especially since many of their employees were resident of the US:
“We are particularly sensitive with regards to being compliant with applicable US law pertaining to cryptocurrency ICOs.”
Using state-of-the-art photorealism delivered via virtual reality (VR) technology and 3D modelling, ViMarket aims to deliver the ultimate experience in the sphere of online shopping. Within the platform, users can easily visualize their prospective purchases and see how they can use them to facilitate every day activities.
Developers and content creators can expand the inventory for merchant sponsors, from which users can build their very own home experiences. With an initial focus on home furnishing, wearables and accessories, users can showcase merchant products already purchased and become brand ambassadors, advertising via product placement and earning rewards for promoting brands they already use and like.
Using the platform’s native digital asset, ViToken (VIT), users can buy virtual goods and simulate its usage. This is seen to help boost customer confidence in purchases, lowering return rates and resulting in fewer people abandoning their shopping carts.
During the announcement, ViMarket also hinted at future plans which would allow its users to access the growing cryptocurrency market, using the ViMarket Exchange to buy, sell and trade in cryptocurrencies. This additional feature would increase the usability of ViTokens, allowing users a convenient shopping alternative from a wide range of merchants in an open marketplace, who will be able to accept many major digital currencies such as Bitcoin, Ethereum, as well as ViTokens and even the US dollar.
It has much more in store as well. As part of its future development roadmap, ViMarket’s token sale will enable the launch of a 3D/VR trading tools combined with artificial intelligence. Traders will be introduced to a gamified experience, earning rewards for all interactions with the platform.
The ViMarket private pre-sale launched on March 12th 2018 is currently ongoing, with a public pre-sale to be announced later down the line, leading up to a public crowdsale in late April or May.