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ViMarket

A 3D marketplace that allows users to create and share virtual reality (VR) experiences, ViMarket promises to bring about a much-needed breakthrough in the global e-commerce ecosystem. The VR technology utilized by ViMarket is utilized in online games to offer unprecedented confidence and value to the shoppers while making a purchase from any of their internet connected devices. With its proprietary editor, ViMarket allows users to create interactive, photorealistic VR simulations regardless of their professional experience or training. At present, the primary areas of focus for ViMarket are the real-estate and interior decoration sectors. However, very soon, it is expected to include fashion, automotive and ultimately all e-commerce verticals. This project combines ideas with the most progressive technologies, such as VR/AR (virtual reality/augmented reality), blockchain and smart contracts.

Rating: 2.8

Official contacts
Location: N/A
Web-resources:   Whitepaper Website
Social networks: N/A
Product source tracking: N/A
Details Description Risks Full analysis Team

Detailed review

Stage of product development
At the moment, you can see the demo version of ViMarket editor. The solution and catalyst to 3D content creation, is via the launch of our editor software (editor.vimarket.io) providing 3D modellers anywhere in the world, the ability to contribute and monetize their creations. ViMarkets 3D editor is a web based application that allows users to create, animate and render 3D content on any compatible device.


Token description
ICO date
07.12.2017 - 07.01.2018
Token price
Friend ​and ​Family: 50M ​VIT ​with ​72.2% ​discount
Pre- ​ICO: 80M ​VIT ​with ​27.8% -​ 66.7% ​discount (Dec ​7 - Dec 31)
ICO: 50M ​VIT ​with ​27.8% - 0% ​discount (Dec ​31 - Jan 7)
Platform
Ethereum
Blockchain
Ethereum
Token distribution date
07.01.2018
Consensus method
N/A
Escrow
N/A
ICO currencies
ETH , BTC
Bounty camping
Under the bounty-campaign ViMarket allocates a pool of 5M tokens ( 2%). The specific encouraged forms of activity and the proportions of the distribution of the tokens pool see on http://platform.vimarket.io/bounty
Markets
N/A
Token functions
ViToken (VIT) is an ERC20 standard utility token that will be released in the Ethereum blockchain. Token performs an important role within the platform itself, acting as a means of payment in all transactions related to the purchase/sale and lease of VR content and other products and services in the ecosystem - however, this circumstance does not negate the possibility for users to pay with fiat and crypto-currency.
Tokens distribution
Crowdsale (52.0%)
The earliest supporters of ViMarket tokensale (20.0%)
Management​ ​Team (16.0%)
Advisors (10.0%)
Bounties (2.0%)
Risks
MARKET

High-level competition on the market by leading technology companies - despite the fact that there are no ViMarket analogues yet, the market players have all the resources for replicating such business model, if its market acceptance will be fully confirmed. It should be noted that there are a lot of strong players in each target segment of ViMarket: Houzz in interior design, mark.space and inVRsion in e-commerce. Currently, there are no confirmed agreements with potential clients

PRODUCT

Most solutions are only conceptually developed, i.e. there is no MVP. To the number of functioning, services can be attributed only ViMarket editor. The concept of the product is rather unintuitive, there is a need to work on integrating the service into the existing Internet space in order to make the transition to the platform logical for the user. The product development roadmap is devoid of useful information and noted timelines are stretched over a long period of time. There's no competitive landscape analysis in WP.

BUSINESS MODEL

There is a risk that it will not be possible to establish relations with corporate clients, who by their presence on the platform create the bulk of the value of the service. Use of blockchain technology doesn't have any positive impact on operational and economic components of the project. ViMarket will be launching their own proprietary and secure exchange

FINANCES

There is no mechanism for returning funds to investors. The company does not provide any forecasts of its financial activities (estimating revenue, net income and free cash flow for future periods) The system of huge discounts (30-60%) to the base token price creates a risk of premature exit from the investment of a significant part of the investors (especially those who entered the project at the stage of open preliminary sales) and, as a result, the risk of token price collapse. Judging by the hard cap, the potential size of this ICO round seems to be too high relative to the size of comparable venture capital transactions in the early stages of project development: according to the Pitchbook report, the median size of the Round A rounds in the US venture market in the end of 2017 promises to be 6 million USD. Apparently, the project had no experience of attracting the funds of "qualified" venture investors.

TEAM

The absence among the team members of a sufficient number of specialists with experience in blockchain development. Team remenuration (16% of the tokens.) should Not Be Linked to KPIs Performance. Team has been developing ViMarket since 2015, but couldn't achieve stable traction and raised venture capital for the next stage of development (Round A).

Full analysis
Market

According to Goldman Sachs' "Virtual & Augmented Reality" report, the aggregate volume of the target VR / AR market (TAM, total addressable market) by 2025 will be about 80 billion USD in the forecast basic scenario 45 billion USD of which will be spend on hardware- solutions like virtual and augmented reality glasses and 35 billion - for software in this segment. This indirectly points to the potentially high demand for the ViMarket platform from users in the future, but there are also more point estimates for specific industry segments the platform is being created for. Currently the company is launching, focusing on the real-estate and interior design space, but is expanding to include fashion and e-commerce. Thus, the VR / AR technology prospects in retail are estimated through the prism of e-commerce at the level of 1.6 billion USD by 2025, in real estate - about 2.6 billion USD. At the same time, high level of interest in technology from the side of the largest technology companies is underlined - thus, their products in the realm of virtual reality according to 2016 already attended by such companies as Facebook, Samsung, Google, HTC, Sony, etc., in the same scope of augmented reality - from Microsoft and, again, Google. All this indicates signs of a high level of competition in the industry, but the market is partly protected by entry market barriers by resource-intensive development process in this segment. It should be noted that there are a lot of strong players in each target segment of ViMarket: Houzz in interior design, mark.space and inVRsion in e-commerce.

Product

A 3D marketplace that allows users to create and share virtual reality (VR) experiences, ViMarket promises to bring about a much-needed breakthrough in the global e-commerce ecosystem. The VR technology utilized by ViMarket is utilized in online games to offer unprecedented confidence and value to the shoppers while making a purchase from any of their internet connected devices. With its proprietary editor, ViMarket allows users to create interactive, photorealistic VR simulations regardless of their professional experience or training. At present, the primary areas of focus for ViMarket are the real-estate and interior decoration sectors. ViMarket wants to heighten purchase aspirations and better track this path-to-purchase, whilst enabling citizen’s trends to be visible to others via 3D asset-marketplace of merchant sponsored products. Launch of Stations, Nation, VIMI and VIwallet will be in 2018.

Business model

Merchant Sponsors, seeking new ways to reach out to customers in a mission to unlock greater and deeper levels of understanding of their behaviour will partner with VIMarket to virtualize their physical products and track baskets that are purchased or abandoned. These physical products will then be available through our repository, to be purchased by shoppers directly from our e-commerce platform where they may be able to browse the product in 3D via any web mobile or VR headset range. Or the virtual virsion of the product can be purchased using the platform’s currency (VIT) ViTokens along with any other virtual model in our catalogue, created by a 400,000 strong community of developers, not related to a physical product owned by a Merchant Sponsor. Purchasing the virtual version of the product is done for two reasons: 1.) If that product is available in real-life via a merchant sponsor then the user will automatically gains a discount on the real goods. 2.) This version of the product can now be stored on the users shelf and this inventory than can be used within a Citizens Station, launching in 2018. A station allows, users to configure rooms and homes to their tastes and preference giving key information to brands and retailers.

Finances

ViMarket organizes this ICO mainly to receive funds for further develop the ViMarket platform and bring the development in-house, this will be accomplished either via the acqui-hire of the current development team, or, by actively recruiting new developers and thereby moving development in-house. These funds will also be used to compensate employees/consultants for work completed to assist in the growth and expansion of the ViMarket and it’s associated content. The total number of tokens available during the pre-ICO phase will be 80M, and 50M during the main ICO phase, these will be sold using a milestone pricing method in blocks of 10M, with a decreasing discount, therefore users that by earlier will benefit from a greater discount. Soft cap will be reached $50M. Hard cap: $250M. ViMarket has a defined product roadmap and financial runway as a result there is a pre-determined minimum goal (denoted in Ether), this will enable core objectives to be completed and released.

Team

Team is an international mix of blockchain, marketing and financial experts. In addition, at first glance, the statement of only one blockchain specialist seems insufficient taken into account the importance of technology for the project business model.

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