VRT World Aims to Raise $16 mln in Public Token Sale

March 2nd, 2018 at 10:28 am UTC · 3 min read

VRT World (formerly VR Technologies), a Singapore-registered company focused on virtual reality (VR), will hold a public crowd sale of its tokens from March 14 to April 30, 2018.

“We expect to raise up to $16 mln, which is the hard cap,” says Konstantin Negachev, CEO. “The figure is achievable as we already have a viable product. Over the next two weeks, we will deploy our project’s new website, roll out the operational version of VRT World Marketplace and make a series of updates on our park.”

From December 5, 2017 to January 5, 2018, VRT World ran a successful token presale, raising $721,000 with 294 investors from 21 countries. The total funding exceeded $1 mln, including $350,000 raised in a limited token pre-sale to a group of private investors in September 2017.

The tokens are issued in conformance with the ERC20 standard. All purchased tokens will be transferred to users’ wallets in Ethereum blockchain with closed balance in smart contract.

30% of the proceeds are to be used for creation and promotion of the company’s virtual reality parks, 25% to be spent on creation of the platform, SDK and upgrading technology, 18% and 15% to be allocated for content creation and marketing activity, respectively.

An alpha version of VRT World Marketplace, in which easy-to-use SDK (Software Development Kit) and API (Application Programming Interface) facilitate VR content creation without restricting developers to a single company or type of device, is already live.

VRT World runs a blockchain-based VR platform, offering content creators, media buyers, developers, storage and service providers and advertisers a comprehensive set of tools that enable them to generate, test and distribute content and ideas, as well as engage in all forms of collaboration.

VRT World’s utility token acts as a “fuel source” for the entire platform, being a unique payment method for all transactions, such as purchase, sale and rental of VR content, as well as various services.

The company also runs VR Park in Moscow, an “offline gateway” into the marketplace, which allow outside developers to sell their content without purchasing costly equipment, and prepares to open another one in Dubai.

VRT World also sold a franchise for VR Parks to the European Union, and 30 parks are to be open under the agreement within the next 18 months.

Among VRT World’s partners are Bancor, Hubculture, Spacebit, Optitrack, GMT Legal and Singapore Bitcoin Club.

Investors can participate in the pre-sale via VRT World web site at http://vrt.world/#tokensale. Additional details of the project can be found in the white paper available at http://vrt.world/wpvrAlbum_EN.pdf

In addition, investors can register for the whitelist and secure a 3% bonus. Those who will buy tokens on days 1-3 are entitled to a 20% bonus and those purchasing tokens on days 4-11 will get a 15% bonus. From day 12 through the end of the sale, a 10% bonus will apply.

About VRT World

VRT World is developing a decentralized global platform for virtual reality, which aims to bring together developers, consumers, and investors in the VR sector from all across the globe. The company is run by an experienced team with a substantial track record in VR and broader digital technologies. The company has offices in Moscow and Singapore.