The number of WIRTUAL coins is limited. Our aim is to build real use cases for our coins with as much overlap with the tangible sector as possible. The focus is to bridge the gap between the "real" sector and blockchain.
This idea is to have a platform where cryptocurrency can be mined through "sweat" or exercise, where rewards can be earned indefinitely. As the company grows, so will the value of its coins. Our coin allocation is divided into 4 categories:
The first platform allows you to earn cryptocurrency from your sweat through walking, running, biking, and swimming activities. Each time you submit your activity results, you will be rewarded with WIRTUAL coins. The total amount of coins receivable is 450 million WIRTUAL coins distributed over a period of 10 years.
Coins related to Sweat Mining is allocated in the following way:
After year 10 ...
We will bring the 10% of coins held in the Treasury and 10% of revenue reserved from sales of Virtual Clothes on the platform during the initial 10 years to giveaway to the users continuously. This model will take the platform to the next level, without needing to mine for more coins while at the same time allowing the value of existing coins to increase. We aim to create many more events that will take over the virtual world as a whole.
We intend to be the coin that can be used both in the real world and in the Metaverse. The coin will allow you to join any virtual event. Your data will be stored in an Avatar and you will be able to receive rewards (revenue). WIRTUAL plans to pave the way into a future where our health is tied with the digital world, where looking after your well-being and having fun can also be a source of income.
By allocated a percentage of coins to the company, we then also have skin in the game and will be incentivized to make our coins increase in value. Our users can be reassured that we believe in our growth.
Of the total coins allocated to the company, 20% of the coins will be reserved for the company’s valuation, meaning it will be kept as an asset and held in reserve (these coins are not meant to be spent). As the coins in reserve reflect the value of our company (much like a company's stock), we will be motivated to to grow and increase its value. Our focus is for our coins to be compatible with real world uses, much like any other currency.
The remaining 5% will be kept for our team members and business partners for short term and long term growth. We will distribute coins over a number of years to incentivize long term vision among our team and partners over short term gain. We believe that long term success can be achieved through long-term reward planning.
A total of 200 million coins are reserved for sweat mining from year 11 onwards. We view our business plan 10 years at a time, whereby rewards occurring from year 11 onwards is based on years 1 to 10, rewards occurring from year 21 onwards is based on years 11 to 20, and so on so forth. The platform is designed in such a way that no new coins have to be mined, meaning the number of coins will not increase which in turn protects against its dilution in value.
In the future, the Treasury may serve as the main source of income for the platform where WIRTUAL will consolidate all coins to the Treasury and users are able to continuously earn coins through sweat mining.
The final 10% will be for pre-sales.
Why are we doing pre-sales?
1. Holder Level: the more WIRTUAL coins a user holds, the more efficiently they can sweat mine as well as unlock additional features. Please see Holder Level for more details.
2. Scale Team & Marketing: Hitting the global market will be a major challenge for us. It is a task that we do not underestimate, and therefore we are sourcing initial funds to implement the strategy we have created.