WIRTUAL's focus is to scale the company and expand into the global market. We want our products and services to be intuitive to our users. We place great importance in both technology and creativity as tools for our advancement and growth. Our business model aims to bring in revenue from Day 1, therefore, we will not be using a startup model based on burn rate. We want to our company to grow through generating profit early on.
The future of social media
The company’s vision is to create a Metaverse, which has begun in the world of fitness and sports. In order to expand this virtual reality space where users can interact with one another, we will further branch out into the social media model to create even more engagement. However, we have long observed the way traditional social media models exploit their users' data and infringe on their privacy. At WIRTUAL, we want to build something different. We have rejected the idea of taking advantage of our users and have already developed a model where our revenue stream will not rely on selling advertisements. We believe strongly in data privacy and have put its control back into the hands of our users. Whether or not you wish to submit your data to us in return for revenue, is entirely up to you. We believe we can achieve growth without compromising our values.
Currently, we have three sub-activities that make up our business model.
All WIRTUAL products have undergone vigorous creative and testing processes before launching to our users. We believe that our users will find our products to be interesting and entertaining.
Entry tickets to Virtual Sports are required to participate in unique sporting events on the application, which will allow you the chance at winning fun prizes such as medals, shirts and other souvenirs. The price of tickets will vary between 1 USD up to 2,000 USD depending on the speciality of the event.
WIRTUAL brand products are created for people in search of high quality products at an affordable price. If you hold WIRTUAL coins, you can receive up to 90% off on some of these items. Our products include shirts, sport shirts, sporting accessories, and gadgets. We also collaborate with various leading brands to create items we know our customers would love.
Clothing and accessories for Avatars will allow users to unlock more features within the platform. These items will be released as NFTs, in which there will be limited supply and can be purchased entirely with WIRTUAL coins. In future, we plan on collaborating with global brands in developing these products. The revenue from this section will be reinvested in growing the company (90%) and reserved in the Treasury Fund (10%) to be distributed as prizes for our users from year 11 onwards.
This section covers the distribution of revenue gained, whether it is from sales of partner products or revenue earned through our Payment Gateway (currently in development to accept cryptocurrency as form of payment). This Payment Gateway covers the bigger picture of what we at WIRTUAL are aiming for beyond selling products. Our goal is to expand WIRTUAL coins and our Payment Gateway to the point where it can connect to the world and the real sector, where our coins can be used to make day to day purchases.
In our stores, we only allow authentic products to be listed. Any product would be claimable for warranty with the brand directly. The distribution model for revenues will vary depending on the product category as well as its connectivity to the platform. If human resources are required to handle inventory or customer service, the percentage of revenue WIRTUAL receives will be higher than if the entire process were automated.
Crypto Payment Gateway
It is expected that in the near future, more and more businesses will be moving towards blockchain and expanding into the global market. WIRTUAL has been able to provide a payment solution in the health industry through our gateway which reduces transfer costs and allows for payments to be made via cryptocurrency.
We are open to building partnerships and exploring opportunities. We are interested in working with any business providing a service or product that is trusted by their customers.
Any company that is in the business of improving lifestyle through technology can benefit from resources at WIRTUAL to aid in marketing their product or service. WIRTUAL can be beneficial to those businesses whether it is through promotions on pages and apps, or through the use of WIRTUAL coins for discounts or other privileges.
WIRUTAL organizes events such as private events for companies that wish to provide a fun and active occasion for their employees, events for charity, and brand campaigns. We also organize official events for government agencies around the world. This service is offered for a one-time payment, plus subscription per user.
If you would like users of WIRTUAL to have a more seamless transition into using your platform, or if you would like to create joint competitions that can connect smoothly to our platform, we at WIRTUAL are at your service. The fee for this service is calculated based on the amount of data connections to be made and your monthly subscription.