The world of virtual reality is growing very fast. One industry that caught the interest of companies and platforms. Many companies have started creating new technologies that are going to make the VR services viable. One of these companies is Spectiv which plans to utilize the blockchain to enable the “users and organizations to stream their unique virtual reality experiences to the world.”
The Signal Token Protocol (SIG) is designed to decentralize the buying, selling and rewarding the attention of the users by removing the middleman from the equation. This is achieved through Ad Campaign Smart Contracts.
With the use of smart contracts, a publicly verifiable blockchain, and trusted oracles, this protocol can directly disintermediate the “trade” of attention.
Through ad campaigns, SIGs can be used to experiment with protocol economics and develop new abuse-mitigation logic using real attention data. This can provide a robust and welcoming foundation for other media platforms to use and build upon its architecture, thereby providing a protocol for the reward of attention.
What makes Spectiv different from other VR streaming platforms?
- Community-Driven VR content – the Spectiv platform is decentralized. Worldwide users can share on the platform with others their real-life experiences. In other words, the community is not expected just to consume VR content, but to create its own. In the beginning, the team aims for the independent VR enthusiasts. One thing to be highlighted is that users can tip the streamers.
- Commercial VR events – Spectiv will make possible for people to enjoy the real life glory of “sport, music, and other such performances” (Whitepaper, 2017, page 5) from the comfort of their homes.
- Spectiv Original VR Content – Spectiv hopes to work with companies/organizations which will create original VR projects. This type of content can range from live VR journalism to real-time tours.
The purpose of this token can be described as follows:
- to apply ad rewards and also ad payment smart contracts;
- tip transactions of tiny denominations will be facilitated;
- users will be allowed to access premium VR content.
Sig is a decentralized token and is designed to generate unique signals when it comes to virtual reality content.
The purpose of this token is to:
- is a tool to produce signals for VR content and also to earn ad interest which is based on signal traffic;
- it will encourage online VR curation;
- it will draw the attention of a global audience of supporters;
- it can be exchanged for Specs;
- give users voting rights on the platform.
There are different kinds of users & participants:
- viewers– viewer experience is the most crucial element of the Spectiv platform.
- content contributors – “users who upload VR content, live or pre-produced;”
- content curators – they share VR content;
- advertisers – they pay a USD sum to be allowed to run a campaign;
- licensed partners – after a powerful and active user base is built, the team will be able to “license rights to broadcast mainstream events like sport and concerts;”
Users have to keep in mind that Sigs are not an investing instrument and its value can rapidly either increase or decrease. Therefore, the team does not encourage investment speculation.