Spectiv was established to take advantage of the technological advancements to create dedicated VR streaming platforms enhanced with mainstream capacity, to enable users and organizations to stream original Virtual media experiences from all over the globe. Viewers will be able to participate from anywhere around the world through Virtual reality. The goal of Spectiv is to create immersive content with the power that comes from Virtual reality. Spectiv is basically a reward system for content creators. This will be achieved with the use of internal token known as Sigs.
Sigs are decentralized tokens that are used to create incentive to VR content developers. It's a mode of payment for content creators by rewarding them for successfully driving up viewership and creating incentives to accelerate the adoption of Virtual Reality from the rest of the world. Using the Ethereum blockchain, Spectiv is creating a network of content developers to share VR content. This will serve as an attention product which will encourage holders to share content and effectively accelerate the exposure and participation of VR activities.
This interprets to value to a curator increasing proportionately with VR adoption and increasing the growth of sigs, assuming future growth of the VR industry. Specs will be the internal currency that will be used to pay for advertising, tips and content purchases. They will only be used within the platform and cannot be transferred. They can be acquired through ad reward or direct purchase on the platform. The token will be publicly traded through a token creation crowd sale event. Specs will be made of three distinct dimensions and will have a fixed value.
The crowd sale is set to open on 08/14/2017 at 2:00PM (GMT -5) and will run through to 09/04/2017. The number of sigs sold will directly determine the number of sigs. The crowd sale will be capped at $40 million and will automatically end once the amount is reached. User will purchase sigs with ETH via smart contracts. The funds will be locked in a multisig escrow wallet waiting to be distributed to their respective owners. The funds will be used for online marketing initiatives.