Vice Industry Token's
On February 21, 2018, Vice Industry Token went live and started sale. This may not mean anything of significance to you without knowing the story behind the stuff. There are two things that you need to know about the Vice Industry Token: It is a platform for video entertainment that, obviously, provides you with videos to watch and is also a cryptocurrency. Any kind of participations (curating, adding, or viewing content) will be rewarded with VIT’s own cryptocurrency, no matter who you are. Here is where things get even more exciting: The kind of videos we are talking about here is of adult entertainment. So, this is basically good news for you if you are the type to consume such an entertainment form regularly. As a person who could be enjoying this form of entertainment, you must be familiar with how it goes. You pick a video and you pay for the video before viewing it. Vice Industry Token seeks to rectify this and revolutionizes the way you enjoy entertainment. The idea behind this is simple: To shift the paradigm from paid entertainment (subscription or pay-per-view) to some other thing that is completely free as well as beneficial to the consumers.
The advent of Tube-sites marks the rise of free-viewing model of entertainment. Now, free stuff is indeed interesting, but getting paid for viewing that exact stuff must be a whole different story, right? Why settle only on “free” while you can actually get paid for enjoying that free stuff? Everyone can gain rewards by accessing the provided platform. You could be a producer. You could be a distributor. You could be a viewer. As mentioned before, no matter who you are, you can take advantage of this service. VIT works together with big names in the entertainment industry to make sure that you get what you actually wish to see. VIT managed to rise as much as $21.4M in less than 24 hours since the initial period of Whitelisting and Presale. The blockchain-powered platform only has one target in mind: To revise the business model of today’s entertainment world. The free viewing business model is certainly something everyone loves but most of the tube sites providing the contents are ad-based. This business model only benefits one party: The web traffic companies. The blockchain-based service was developed based off the Steem network. The result is an entertainment platform that appreciates dedicated viewers with rewards and encourages both producers and curators to come up with contents that are equally engaging and of high quality. This way, even the amateurs can generate profit from their videos.
All of the Vice Industry Token smart contracts are audited by leading auditors out there such as Bokki, Hosho, and SmartDec. It was reported that there have been $82M lost to fraud and theft owing to flaws in smart contracts. By enlisting the help of other qualified parties, Vice Industry Token hopes to bring that number down. Payment for the VIT can only be done using Ethereum. This should be compatible with ERC20 wallets, the key to which is under your own possession and control. Needless to say, payment using Ethereum through an Exchange wallet cannot be processed. You can do your research to get your own ECR-20 wallet. Regarding payment, it is imperative that you do everything in your power to prevent scams and frauds. As such, make sure that all the information you get about payment for VIT is obtained from the official website or blog. Things you receive not through the official media of VIT are fraudulent, thus you should never send any money to anyone asking via email or DMs.