Update July 24

4 min read

As we have reached some more deadlines in our project, we are happy to post a new update with details about what’s going on.

In the previous update, we explained that we are focusing on setting up the football website, which is the first asset in the Viral Media Network. This will allow us to:

  • Add VMT as a base currency on Buzzex
  • Earn ad revenue
  • Buy VMT’s from the market
  • Distribute 50% of profits to VMT holders
  • Burn 50% of profits from the total supply

We also explained that VMT’s will become a crucial element of the Buzzex project as it will allow us to grow the volume, which in return will benefit BZX Coin holders as well.

Buzzex Withdrawals And Deposits

Let’s first start with mentioning that we need to do a script upgrade on our deposit and withdrawal setup for Ethereum. Some delays have been caused by this.

We can assure you that all your coins and tokens are safe and everything is monitored manually at the moment.

As soon as the current items of the football site are completed, the upgrade will be done and automation will resume as normal.

VMT Info Site

We have completed an information site for the Viral Media Token. Here you can find that.

As some members have pointed out, we’ll still add an SSL certificate so the site will redirect to https.

The site contains all info needed to get a good view on how VMT’s will gain value, and how our side project will help Buzzex and our entire project as well.

On the info site, you can also find the VMT logo:

Viral Football Site

As we are mainly working on getting the first asset in the Viral Media Network ready, namely the viral football site, most of today’s update will be regarding this.

The goal is to monetize this site with regular ads and use those advertising Dollars to buy VMT’s from the market. 50% of the bought VMT’s will be distributed to people holding VMT’s on Buzzex, the other 50% will be burned from the total supply.

So VMT will be a hyper deflationary cryptocurrency, that at the same time rewards people for holding them. We believe this is the perfect setup to create a very valuable asset as it contains the two elements needed to achieve that:

  • A constantly lowering supply
  • Daily rewards for holding the token

At the same time, VMT’s will be an interesting token for daytraders as well as it can become a safe haven token against more volatile crypto assets.

It’s crucial that we create a very interesting site that will be visited by millions of users. In case you missed the previous updates, let’s recap what the football site is about.

Football Site Overview

We are building a site that targets the 4 billion football fans worldwide. The site will be a combination of a regular live score site, with a built-in competition for football fans.

Fans will be able to vote on who has the best fans, and these metrics will be used to determine which team has the best fans. An alternative ranking table will be included so fans can not only see which team ranks on top in the regular competition but also in the fan competition.

To understand football culture and why the passion fans have for their club will be the driving force behind the site, please watch this video:

Every football team will have its own channel with fan videos, and the video with the most views currently will be used for the upcoming game.

Football API

We are using a football API on the site which pulls in all the real games being played by the teams in every competition, so the fan competition will run parallel with the real league’s games.

This gives the site an extra edge, and will also allow us to add real scores and real tables of all leagues all around the world as well.

Business Model

Our focus is on two crucial aspects needed to create a popular site:

  • It’s viral in nature – Fans will share the upcoming games with other fans so they can vote for their team.
  • Retention rate – Because of the competition element and an additional feature called the “Ultra-Score” of every member (which will give them higher voting power), the retention rate of the site will be high.

There is no monetary aspect to the site and football fans will use it because they like to use it. The site will be monetized as any major online business with regular advertisements.

IMPORTANT: Football fans are a very interesting target audience for advertisers. Just think about how much money goes around in football, and that a huge amount of the team’s budget comes from sponsorship deals. Football fans buy merchandise, pay for tickets, travel, tifo material, consumption etc.

The majority of the ad profits will be used to buy VMT’s from the market, distribute 50% of those to VMT holders on Buzzex and burn the other 50% permanently from the total supply.

Football Site Development

As the upcoming football season is approaching, we are happy to announce that we are making good progress with development and the setup.

We have already integrated the football API, created the voting mechanism for the competition and created the final layout of the site with tabs for easy navigation.

Over 1000 teams already have videos in their channel, ready for the competition to start.

Our opinion is that the simpler the site is, the better. So it will be very easy to understand and navigate the site, which in return will allow us to optimize the ad positions to generate more profits over time.

Football Site Launch

We decided to launch the football site in 3 phases:

  • Development Phase – The football site remains in closed beta until all features are completed. This phase is ongoing and about to end. This week another number of features will be integrated.
  • Testing Phase – Everybody that actively wants to help the project during the bounty campaign will be given access to the private beta site for final testing.
  • Launch – When testing is completed it will be made public, the bounty campaign will be launched and football fans will be invited to the site.

This site is much less complicated than building a cryptocurrency exchange from scratch, but a testing phase will still be implemented to ensure everything works properly.

Viral Media Token Trading

VMT’s will become a base currency on the Buzzex exchange. This means it will be possible to exchange any coin currently trading on Buzzex for VMT’s.

The moment the testing phase starts and active members will be invited to the private beta site, we will include VMT markets on Buzzex.

IMPORTANT: The Buzzex IEO for VMT’s will end in about 10 days from now, and the price will increase again today. This will be the last chance to acquire VMT’s during our IEO and take advantage of the amazing bonus being offered to buyers!

Conclusion

We are one step away from inviting users to test our football site. This means we are one step away to announce our new project, the viral media token, on various outlets.

We are convinced that we are building something truly amazing here, both for football fans all around the world and for crypto enthusiasts who understand the potential of the setup with VMT.

A hyper deflationary token that rewards holders every day is always an interesting asset to have in your portfolio.

It’s up to our dedicated team now to complete the final items on our list, so our project can enter the growth phase it deserves.

That’s it for now, see you in the next update!

The Buzzex Team

Update August 10, 2019

Jens
2 min read

Update August 2, 2019

Jens
3 min read