VEZT ICO Review
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Vezt ICO Review
ICO’s are a great way to multiply your initial investment. Although there is, of course, the risk too lose everything, I think some ICO’s are worth looking at it. During my research, I finally stumbled across Vezt, a project which is able to revolutionize the way we experience, enjoy and love music.
So if you are loving music as much as I do, and if you want to earn some music right revenues you should read the whole story 😉
What are they doing?
Join Our Mission to Transform the Music Industry!
"We believe that music is one of the few mediums that can literally transform life. It can provide solace and comfort to those hurting or in need, joy and excitement to an experience or event, and even has the ability to transcend time and space with the emotional nostalgia that hearing a favorite song can trigger in one’s mind. It’s powerful and magic and we think it’s worthy of our efforts to provide its creators with the ability to be fairly and transparently compensated for their work and talent." - Co-founders Steve Stewart and Robert Menendez
According to Vezt, and if you follow some industry news you would agree, the whole music industry is in the hand of a few big labels. They can decide which song will be published and decide more or less how much an artist gets paid for his or her effort. Often, those deals are way better for the labels than for the artists, especially if the singer/songwriter is relatively new to the business. But even well-known ones have to face such problems.
To fight against this old-fashioned way of doing business, and to ensure a fairer distribution of income among the artist and his stakeholders (label, managers, fans), Vezt is creating a platform where musicians can offer shares of their songs to their fans and investors. On this platform, artist will have to sell a fraction of their song rights in the so-called "ISO - Initial Song Offering"
Crypto guys should love this term 😜
How does it work?
Artists choose how much they’d like to raise from a fraction of their rights from one of their songs (for example, $10,000 for 10% of their songwriter rights), the reversion term (3. 5, 10 or in perpetuity), and set a date for the ISO.
Rights-buyers on the Vezt platform (including fans, music professionals, and brands), buy the rights during the ISO, and the artist receives the funds credited to their account immediately.
As a return, investors will then got a fraction of the royalties of the song.
It's unnecessary to mention that the terms of those deals are written into the smart contract to ensure everything is comprehensible and transparent.
Platform features
- Fractional song monetization for artists through Initial Song Offerings (ISOTM)
- Social media sharing of both artist and rights-buyers’ activity and playlists
- Royalty tracking and collection in 137 countries around the world
- Allows fans, rights-buyers, and brands to participate across a wide variety of songs and playlists
Token Details
The total coin supply is 125 million VZT.
25 millionavailable for public sale which equals to 20%
25 million VZT were available during private pre-sale where $ 3.25 million USD has been raised.
They also received $250,000 from Binary Capital as a pre-product investment.
Hardcap is $15 million USD
Tier Levels | Available Tokens | Token Price | Exchange Rate |
---|---|---|---|
Tier 1 | 11 million | 0.00116 ETH | 1 ETH = 862 VZT |
Tier 2 | 6.75 million | 0.00149 ETH | 1 ETH = 671 VZT |
Tier 3 | 3.5 million | 0.00183 ETH | 1 ETH = 546 VZT |
Tier 4 | 2.25 million | 0.00216 ETH | 1 ETH = 463 VZT |
Tier 5 | 1 million | 0.00249 ETH | 1 ETH = 402 VZT |
Tier 6 | 0.5 million | 0.00282 ETH | 1 ETH = 355 VZT |
My conclusion
8/10 Points
Plus
- The overall idea is great
- the team looks very competent with a lot of experience in the music business
- the team acts extremelly professional
- they are very active and responsive and create a lot of news and content
- they price of the token is reasonable, although I personally don't like tier based sales
Minus
- some unclear statements which need to be reviewed
- no details to the pre-sales
- "low" contribution rate (not necessarily their fault, too much ICO right now)
- expected low circulating supply
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If you are interested in the project I recommend you to join their Telegram. They are super active and answer all of your questions as soon as they can.
They also have a nice written Medium Blog, Twitter, Youtube and of course, a Bitcointalk ANN Thread as well as some other channels.
You can see all of them on their Website.
Please also check the Whitepaper if you are interested in the project.
Here you find a short sneak preview of the platform to get an idea what it looks like
All pictures and information are taken from Vezt Whitepaper / Website or Vezt related sources. I do not own any picture rights.
The Information is not intended to be and does not constitute financial advice or any other advice, is general in nature and not specific to you. Before using this information to make an investment decision, you should do your own research. I am NOT responsible for any investment decision made by you. You are responsible for your own investment research and investment decisions.
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Great review! I also go over the Vezt Token, but post-ICO. Check it out!
https://www.icoweb.com
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