Introducing Spectiv VR and The Signal Protocol
The VR Market
Taking a quick look at the vr market…the exposure and reach is growing exponentially across the globe. IMO and other industy experts opinion, VR is going to be the next tech boom. In 2016 the entire VR market was worth US 3.7 billion dollars. This is projected to grow past 30 billion USD by 2020.
Now What is the problem spectiv is trying to solve with their platform? Well attention and data is the most valuable and sought-after assets in the world. And the market for how attention is valued and compensated is a pile of shit. Advertiser pay for campanis through centralized companies that basically act as an attention broker between the advertiser and the publishers-think google, facebook, snapchat.
This creates a barrier that advertisers and the publishers must funnel through to reach actual viewers. These middle-men attention brokers control attention data related to an advertising fees. And the viewers who are being advertised get no reward. It’s a messed up cycle that needs to be fixed!
The Signal Protocol
This is where Spectiv enters with their complete solution. The signal token protocol. What this protocol essentialy does is decentralizes the interaction between advertisers, content publishers, viewers, and creators. Buying, selling, and rewarding of attention now will have the middleman removed from this equation.
Now you may be asking yourself, how does the signal protocol achieve this? The answer is ad campaign smart contracts.
Lets dive into what these smart contracts are. Using the signal protocol, an advertiser can use SIGs through a smart contract associated with target content.
This content in turn becomes “hot” which means publishers, viewers, and creators can engage with that advertiser and be rewareded with SIGs for driving attention to that content
All ad views, vlicks, and rewards that occur is communicated to the Ad Campaign Smart Contract though a third party oracle such as chainlink. The smart contract will automatically distribute rewards to users participating in that engagement.
What benefits does this give to advertisers? Well it enables them to execute ad campaigsn and directly reward the producers, providers, and influencers of attention-rather than going through a middleman. They can target their ad campaign smart contract to a wider portfolio of content or even just one specific media item, the beauty in this is it’s up to them. Budget is their chose, where it goes is their choice, who it goes to is their choice. This is how it should be!
Advertiser can also set custom condition for the smart contracts. An example is .01 sigs rewarded per ad click, or .05 SIGss rewarded per ad click. This creates a transparent and competive marketplace.
Now let’s dive into the intial use case for the Signal Protocl: Spectiv VR. So decentralized protocols are amazing, but they are faced with a major challenge when beginning—the early adoption. Spectiv VR serves to be a pioneer in vr content streaming and distribution. Now, how is this all going to tie together.
Well lets first take a look at publishers on Spectiv VR. When a publisher contributes VR content, they will have the option to be included in all Ad Campaign Smart Contracts for that particular content. They will simply tie their SIG wallet to the content they contributed. So if an advertiser runs a campaign on that content, the publisher will be rewarded with a percentage of SIGs for every view and conversion while hosting that ad.
Viewers are able to get Sig rewards by engaging with advertisments. Registered users on Spectiv can register and tie their wallet to their account on the platform. When a viewer watches an ad, visits a link, or makes a purchase, that information is sent to the relevant Ad Campaign Smart Contract. If engament conditions are met, the contract distrubues a fraction of SIGS to the viewers wallet.
How about Curators, how will they fit into Spectiv VR.
Creators can by rewarded with SIG by sharing content with friends and followers. This is done, by creating a personalized Signal link URL to the content. All attention driven through the link will be tracked and communicated to the Ad Campaign Smart Contract. If reward conditions are met, the contract will distribute a portion of SIGS to the curators wallet
Another big feature of Spectiv is Tips. It’s a community-driven user-to-user tipping system. Works on a rapid-tap basis where viewers can tap a small token button on the viewing interface while engaging in a VR experience….I can see where this one could go….wink wink
There is also premium content where users will be able to use SIGS to redeem pay-to-play VR content such as live event passes, VR movies, Spectiv Originals and much more. With the use of cutting-edge HD 360 degre
So there are already vr streaming platforms out there, but no single entity dominates the space. The major difference that sets Spectiv apart is the community driven focus. Spectiv doesn’t short itself as just a portal to watch VR streaming or events, but an environment where users can share experiences with others across the globe. A viewer in the USA can put on a VR headset and see the perspective of a streamer in Thailand. Events, travels, day-to-day lving, gureilla journalism, local politics, all can be streamed in VR on Spectiv.
Intitially spectiv plans to work with independent VR enthusiast who have already adopted VR recording systems. They will be the first users to publish content on Spectiv., and will generate a large selection of community provided VR content. This has been their primary focus for the Spectiv alpha V1 release happening soon.
An ecosystem will be created for rewards between users, where viewers can tip streamers for content they enjoy and subscribe to then to be updated with new content. Once the commercial and community-driven content channels are established, Spectiv will create their own content, and pursue original projects based on user feedback.
Now the spectiv company developed the sginal protocol for use with Spectiv, but SIGS can be used for any ad-driven media plaform to use and buil upon whether its video based, audio based, written based, or a mixture. The signal protocol is not fixed to spectiv, but it is built to be its own decnertalized, autonomous protocol that can support multiple attention economies.
Now lets take a look at the some of the key members of the team, which is very very good!
1. Dylan Senter is the CEO, he is an accomplished entrepreneur who has founded multiple business including synstec, a smart materials tech startup, and also an ecommerce storefront SuperSenter.
2. Nick Ravanbaksh-COO. Double major in accounting and entrepreneurship. Was CFO of Synstec, and co founded effortless online solutions-a digital development agency
3. Chris Pena-CTO-is a highly regarded programming expert, and profficent in most languages. Best known for his youtube channel Dev Coffee, was CEO of effortless online solutions, and also owns an independent firm Rise Services.
4. Ramon Hernandez-UI developer-Ramons experience is in design, UI/UX, branding and packaging. Remarkable artist with a unique interest in the operations sides of projects.
5. Bryn Bellomy-Very Important here, he is the etheruem developer. Bryn is an experienced full stack developer and holds the title of CTO at ListenONRepeat, a popular music discovery service.
Dylan and Nick have recentely left Sensytec in March of 2017. The project was officially launched in June and the token sale was planned for August, but after partnering with ICO consulting firm Sutton Stone the ICO was delayed until December to take care of all necessary structuring and legal requirments.
From August 27th to September 4th the token pre-sale was held and it was very successful indeed. Spectiv sold a total of 3548 Eth and 32 BTC and 58000 USD. All of the participants were required to pass qualification screenings in compliance with KYC checks. The presale was actually conducted very respectfully with a pionerring standard for security and regulatory compliance.
The funds from the presale significantly accelerated the development of the release of the Alpha to week 2 of November. The alpha release will have 360 degree upload, 360 degree viewing from desktop or mobile, user account dashboard, channel management, and user to user singal token rewards and tip funcitonlaity.
The V2 of the alpha should be released in week 1 of December, and guess what V2 will have live 360 degree streaming.
Their Roadmap is one of the most complete I have ever seen, and they have stuck to their roadmap entirely so far. The official launch of the platform is slated for Q3 of 2018!
The token sale starts December 8th. And the going rate for signal tokens is .50 cents each, but there will be bonuses. If you sign up for their email list, you will get early access to the token sale and receive an exclusive 60 percent discount!
In the crowdsale 60 percent of the tokens will be sold to the public, and 40 percent will be held for company reserves to help frow the platform-marketing, content licesnes, payouts, equipment, etc. The number of SIGS sold will determine the number of sigs created. Token sale will be capped at 40m usd.