ICO Analysis: ImmVRse

ImmVRse is a blockchain-based virtual reality (VR) and augmented reality (AR) video sharing and hiring platform. Similar to YouTube, the platform allows you to like, comment, and share videos with other users but also connects creators with those who need their services (e.g. brands and advertisers). The combined VR/AR market targeted by the team is projected to reach $162 billion by 2020.

VR/AR Industry Problems

Because the VR/AR space is still relatively young, there are numerous roadblocks inhibiting its growth. Primarily, content creators are spread across platforms because there’s no dominant space for them to publish their work. As a brand or advertiser, this makes it difficult to connect with quality video producers.

Additionally, many of the companies that are dedicated to AR/VR video sharing are highly centralized and limit who they allow to use their platform.

Another hindrance to the growth of this market is the difficulty to generate revenue. Several countries have strict legislation revolving around payments, especially in overseas transactions. This, in combination with the oversaturation of video on traditional platforms, prevents quality AR/VR creators from expanding.

ImmVRse Solutions

ImmVRse is tackling all of these problems head-on. The team is not only building a sharing platform but a community as well. They want users to interact heavily with one another to help foster a supportive AR/VR ecosystem.

To prevent restrictions on membership and content, ImmVRse uses Ethereum smart contracts for the peer-to-peer aspect of the platform. The entire jobs matching process, from inquiry to publication, is decentralized without any intermediary control.

As with most other platforms implementing cryptocurrency, a large function of blockchain for ImmVRse is in their payments system. Users give and receive payments using the project’s ERC20 token, IMV. Additionally, normal viewers who interact with the platform are rewarded with IMV as well. This opens up the platform to people in countries with prohibitive legislation and/or limited financial infrastructure.

Finally, ImmVRse provides a unique solution to the revenue problems mentioned earlier. Because it’s an AR/VR dedicated platform, brands and advertisers are able to easily find the AR/VR talent they’re looking to hire for content production.

One thing that stands out in the revenue model, though, is that high-value creators need to pay a monthly subscription to maintain a premium status on ImmVRse. This seems odd because they’re the driving force behind the platform. However, if the leads and value they receive from keeping their status are high enough, this may be a non-issue.

 

Token

The ImmVRse team is currently preparing for their token crowdsale but have a pre-sale announcement on May 15. No other dates have been announced yet, but the whitepaper states that the token sale will last for 6 to 8 weeks.

During the ICO, the team will mint a maximum supply of 300 million IMV with no additional token creation after. IMVs are ERC20 tokens, so you can use any standard ERC20 wallet to participate in the ICO.

IMV tokens will cost $0.20 with discounts to early contributors and pre-ICO participants. During the pre-ICO, tokens will have a 20% discount while early contributors can receive an additional 10% discount.

The IMV token distribution is more centralized than most other projects with only one-third going to crowdsale participants. The distribution is as follows:

  • 53% – ImmVRse
  • 33% – ICO participants
  • 10% – Team and advisors
  • 4% – Rewards and bounties

Creating even more centralization, only 60% of the crowdsale tokens are slotted for the public crowdsale. The remaining 40% will be distributed among private investors and pre-ICO participants.

The crowdsale has a hard cap of $20 million.

Team

The ImmVRse team is headquartered in London and led by co-founders Farabi Shayor and Limon Rahman. Shayor has two and a half years of VR production experience alongside proficiency in Solidity development. Rahman is a seasoned entrepreneur with 14 years of financial control and management experience. Together they form a yin (product) and yang (business) combination that’s great to see in a founding team.

Unfortunately, the rest of the team is lacking in both AR/VR and blockchain experience. Although the technologies are new, it would’ve been nice to see a few team members with related projects under their belt.

On a positive note, the team has a solid advisory board that should be able to help with any gaps in their knowledge base.

Verdict

The ImmVRse team is building a platform to highlight AR/VR content creators and connect them with companies looking for their services. They’re attempting to solve some of the biggest growth problems in the video space now: censorship and profitability.

Although the majority of team members don’t have ample experience in key areas, the co-founders and advisory board should be able to carry them through. However, with so much of the platform revolving around quality content creation, ImmVRse’s decision to charge content creators for premium status may end up hurting them in the long run.

Risks

  • New market. The demand for AR/VR content is still yet to be proven. It’s entirely possible that the need for this type of video is still multiple years away. Remember 3D televisions? (-1)
  • Reliance on creators. Without happy creators, the platform has no value. Charging them for a premium status is starting off on the wrong foot. (-2)
    Terrible token distribution. Even if the platform becomes wildly successful, ImmVRse can just release more tokens into the ecosystem to keep the price at a reasonable level. (-3)

Growth Potential

  • Emerging market. Yes, I know I put the market as a risk, but there’s huge growth potential here as well. AR/VR content has a multitude of use-cases and this market could end up being gigantic. (+5)
  • Supportive advisers. Any expertise that the team is missing is filled in by some member of their advisory board. (+3)
  • Multiple revenue streams. Advertising, job completion fees, creator monthly subscriptions, and numerous other things – there’s plenty of ways for the platform to make money. (+4)

Disposition

ImmVRse receives a respectable 6 out of 10. The platform is highly dependent on an industry that hasn’t really broken ground yet. If AR/VR adoption is still far outside of the horizon, it may be years before ImmVRse shows value – too long for a young project to survive.

However, an AR/VR market boom could position ImmVRse to be the next big media platform to take the world by storm.

Investment Details

The ImmVRse team hasn’t released any important investment details, but you can stay up-to-date with their announcements here.

  • Symbol: IMV
  • Platform: Ethereum
  • Public Sale Start: N/A
  • Price: 1 IMV = $0.20 U.S.
  • Hard Cap: $20 million
  • Minimum Investment: $50 U.S.
  • Payments Accepted: ETH
  • Jurisdictions Barred from Participation: United States

Featured image courtesy of Shutterstock.

Author:
Alex Moskov is a writer and entrepreneur with a passion for building and creating awesome things. Alex has experience in music tech startups, digital marketing, and cryptocurrency investing.