FAQ (Frequently Asked Questions)
What are the intended uses for the VU Token?
VU Tokens power the LivingVR™ economy as an in-game virtual currency to spend or earn in exchange for unique virtual goods, services, and experiences within VU.
What determines the value of VU Token?
The VU Token is an ERC-20 token with a fixed supply. The value will be based on the availability and scarcity of the token itself.
How is value created inside the game?
VU is a VR platform powered by the Ethereum blockchain. Within VU, an ever evolving story-driven universe, users can participate in a thriving economy based upon the VU Token, an ERC-20 token with a fixed supply. Within the world, numerous opportunities are available for players to create, add and exchange value. Virtual Universe makes it easy for players inside of the game to earn cryptocurrency and other rewards based upon their efforts and work. Because this is a dynamic universe, the ability to hunt/mine for resources (basic and smart objects in the world) and then modify or combine them to sell them is possible.
Is VU Token available on exchanges?
While tokens may be traded through one or more cryptocurrency exchanges, there is no guarantee of value, and the token may be delisted at any time that it does not meet the listing requirements of the exchange.
Is the blockchain infrastructure for the project ready to use?
The blockchain infrastructure of the project will roll out in stages over the next 6 months. For a detailed roadmap, please visit: www.vutoken.io/roadmap
Is there a working prototype or MVP of VU?
Yes, there is a working prototype / demonstration of the VU. On both the White Paper and VU website there is a video that will give you an overview of the prototype and live demos have been conducted with individuals.
How long until the VU is fully operational?
The Company estimates that the first full release of the VU will be in Q3 2019. There will, however, be incremental releases during that time frame that will allow users to both participate and create various events and tasks along the way. After the first release, there will be routine update and releases throughout the entire life of the game itself, including new things to see, experience, create, share, etc.
How do you see this project contributing to the evolution of blockchain and VR?
The VU blockchain will allow for the secure and transparent ownership of assets within the world. Blockchain will provide users with a “inventory wallet” to store their own immutable record of ownership, transfer and agreement as they purchase, modify and sell/trade goods within the virtual world.
Raise Amount Max
Is there a clear cap?
600 million VU tokens are available for sale
Is the maximum raise amount sufficient?
Yes. Videogame development is very expensive. Virtual Reality takes this to the next level. Based upon current financial models, a complete sale would provide the company with approximately 6 years of operating and development capital.
What Is the ratio of tokens sold to those kept?
The Company is selling 600,000,000 million tokens, out of a total of 1,000,000,000 (1 billion)
Who is marketing the VU Token offering?
The Company has engaged Token Agency, a crypto marketing firm. TA will also work with additional marketing agencies as the token sale continues to evolve.
Corporate Governance and Compliance
The Company is incorporated out of the Cayman Islands, and its governance and compliance is based upon Cayman jurisdiction.
Why do you have limitations on the countries who can purchase VU Token in the TGE?
The Company has restricted United States, Canada, and China from purchasing tokens during the TGE. In these countries, token sales are either prohibited or regulated solely as securities, which VU Token is not.
Elaborate on your KYC/AML
VU has engaged with IdentityMind to run its KYC/AML process during registration. This is an automated process that requires potential purchasers to provide current documentation, including id information such as passport, driver’s license, or national id card, along with a selfie photograph. It also checks against various sanction and criminal databases.
The Company is using Squire, Patton & Boggs as their corporate counsel, Campbell’s Law Firm out of the Cayman Islands, and is also evaluating an additional international law firm as well.
In additional to each of the founders own capital, the parent company has raised a friends and family round to start the company followed by three separate angel backed investment rounds totally approximately $660K.
Ukledo is incorporated out of the Cayman Islands. VU (Ukledo Corp) is wholly owned by Immersive Entertainment, Inc. IEI is the developer of the Virtual Reality properties within VU.