FinTekNeeks

We Lead, Markets Follow

Are Voxels the Future of Virtual Reality?

Posted in Cryptos

There are literally hundreds of cryptocurrencies right now and more are being created every month. Just like penny stocks in the OTC and pink sheets of the stock market. The technology is not easily accessible to a regular consumer, but developments will make it a reality. Then mass adoption would create even more cryptocurrencies in the cryptosphere. Does it make sense to learn about all the small cryptocurrencies out there besides Bitcoin and Ethereum? Yes, we think we do. There will be some great opportunities, but most will be duds.

Virtual Coin for Virtual Reality

Voxels is the cryptocurrency that is being used on the Voxelus platform. We definitely want to differentiate the Voxels from Voxelus. From here on out, I will refer to the crypto-token as VOX. VOX was introduced in April of 2016, with an initial coin offering (ICO) of 1.2 million VOX, for 1,022 Bitcoin. This was priced as $350,000 USD at the time of the ICO. Those who bought at the ICO spent about $0.29 per VOX. Currently, VOX is trading about $0.05, which is about 82% drop from the ICO price.

Virtual reality (VR) and augmented reality (AR) are really hot trends in software development right now. Serious money is being spent in this tech space, like Facebook buying Oculus and recent acquisition of VR startup, Owlchemy Labs, by Google. Voxelus has been developing a platform that allows users to build worlds and objects for VR. Supposedly, people without coding experience can build in VR. This reminds me of MineCraft. The platform allows people to create and sell their creations in a marketplace in $USD or VOX. Recently, they have released their beta version on Google Daydream and they seem to be making some progress on their platform. In addition, some hardware companies like Samsung have jumped into providing VR through phones or other tools, showing the interest in this field on the hardware side.

Here are some stats on VOX (as of 5/24/17)
-------------------------------------------
VOX is based on Scrypt cryptography, forked from Litecoin
ICO of 1.2 million VOX, 1,022 Bitcoin - $350,000 USD (at time of ICO)
VOX in circulation - 31.5 million (15% of total supply)
VOX total supply - 210 million
VOX premined - 210 million
VOX market cap of VOX in circulation (@$0.05) - $1.575 million
VOX to release in 20 year spans, 15% of total supply, at discretion of Voxelus and Uphold
VOX supported by Livecoin, Bittrex, Brave Newcoin exchanges

Interesting Notes

Poloniex abruptly discontinued support for VOX in their exchange recently. Voxelus even admitted the sudden change without any communication with the change. This impacted the price of VOX drastically.

Since VOX is premined, Voxelux controls 85% of the supply that is not in circulation. This can cause significant shocks, if they choose to release supply of VOX that is not aligned to their original intention.

Concern is that there is no need for further proof of work nodes. There is no indication of proof of stake nodes to decentralize VOX and trade VOX among users. The advantage of Bitcoin was decentralization, even though blockchain consensus is not efficient and waste of resources in exchange for transparency.

We have not played around with the platform yet. There will definitely be fierce competition as various software groups tackle VR, AR, and possibly eXtended Reality (XR).

If Voxelus held onto the 1,022 Bitcoin, the ICO proceeds would be valued at $2.555 million USD today (using $2500 USD per Bitcoin) versus $350K USD collected.

How Would We Trade Voxels?
Contact us to buy our report on Voxels about how we would trade this project. For our past predictions, see FinTekNeeks accuracy.

Warning

This article covers a token or element in the cryptosphere. The cryptosphere is new and exciting, but changes rapidly and often in ways that do not benefit users. By the time this article is published, changes may have already occurred. Most tokens in the cryptosphere are complete scams that are get-rich-quick-schemes for insiders. Often, we cannot know this beforehand and only later discover this. A person should only trade with money that they’re willing to lose because losses are guaranteed. If you choose to participate in purchasing a token in the cryptosphere, you should do so with the full expectation of a loss and you should also expect it to change in a manner that does not benefit you. There are very few good ideas in the cryptosphere. Finally, by reading this post, you agree that you’ve read our disclosure.


Advanced Security Newsletter

Contact us at both emails to sign up for the wait list to the advanced security newsletter coming soon. All digital funds carry significant digital risks and we look at strategic ways to protect your digital security for now and the future.

© Copyright 2016-2017. All Rights Reserved. Direction Return Design by FinTek Development.