VIBE is the cryptocurrency of VIBEhub, which creates virtual reality (VR) marketplaces and hubs, allowing users to buy and sell experience in a much more convenient and beyond the possibilities of traditional technologies. VIBEhub promises a new VR experience with existing VR devices. The hub is a community-driven space that helps to create a unique virtual world that allows artists, instructors to share their performances and knowledge live with their fans, on social hubs and even fix up of dates to enjoy it later.
Using Ethereum blockchain and other advanced technologies in VR, it places itself above any traditional VR applications. It captures visual performances of artists in Volumetric
Video technology, which places them in custom build environments.
The technology for virtual reality has been in development for years but has not able to become a mainstream and lacks large-scale adoption. Some of the key issues are:
VIBEhub does not only restricts itself into providing enhanced virtual reality experience but also is a marketplace where users including artists, instructors can experience this world along with interacting other users using real-time voice communication.
It harnesses the power of Ethereum blockchain and VIBE token to monetize this new world. Users can enjoy their favorite artists performing by simply connecting their VR headsets with VIBEhub app in exchange of some VIBE token. Users can meet and greet their or interact with their favorite artist virtually by paying VIBE, play games or watch movies at social hubs with VIBE tokens, thus keeping the natural demand for the currency and also attracting a wide class of people. Artists can also receive tips in form of VIBE token for sharing their content or performances thus solving the monetization issues.
Trusted and Wide Reach: The VIBE token based on the ERC-20 token is basically used for micropayments to access VIBEhub. The platform also provides artists and educators to reach millions of viewers in a single stream in VR.
Monetization: VIBEhub solves one of the most important issues of the VR ecosystem i.e monetization. It uses volumetric video and other virtual assets to monetize content in VR and AR.
Single Marketplace: From music, education, movies, gaming, dating marketplace, and much more, VIBEhub provides these under one roof with a common currency.
More Immersive Social Experience: VIBEhub allows real-time voice communication which allows interacting with friends, artists or instructors giving the VR a whole new experience.
No Intermediaries and No Fees: VIBEhub incorporates hybrid on-chain and off-chain solutions that facilitate micro-transactions instantaneously. The network doesn't require GAS as fees to facilitate transactions.
VIBE cryptocurrency is the driving force for VIBEhub platform and will create a natural demand for the currency. The token can be used for buying digital assets and also for tipping.
The entire supply of 267,000,000 VIBE tokens is pre-mined, out of which 160,200,000 or 60 percent VIBEs were made available to the token sale held between 7th August and 21st September 2017 which will be allocated towards future developments, marketing and collaboration expenses.