A Deep Dive Into Envision and VIS Token
za LCX Team · February 28, 2022
Dive Into the Envision: MADE BY CREATORS, FOR CREATORS
Envision, is committed to developing a decentralised stock media ecosystem for creators and consumers. Envision has the potential to transform the way stock media is marketed and distributed. The main goal of Envision is to facilitate the peer-to-peer exchange of stock content where content creators sell direct to consumers, avoiding heavy fees or forfeiting rights as with current centralised solutions.
Stock media are available in various formats, such as still images, videos, and visual effects. Their purpose determines their validity as stock media. Commonly, stock media has not been created for any particular project or need and can be used over and over again for multiple projects. The use case for stock media is very broad and could be found in Hollywood films, marketing/ PR campaigns, publications, etc.
Despite the rapid changes in technology, the stock footage industry has largely remained unchanged. The key challenges that prevailed in the Stock media industry are
Centralization: Currently, content creators are reliant on large centralised providers to purchase their content outright.
No Ownership: The creator is forced to forfeit ownership rights leaving them with no control over how the content is sold or for how much.
Unfair Compensation: Content creators are forced to sell the rights at significantly lower prices than what that piece of content may actually end up generating. Our studies have shown that in some cases the creator may only receive as little as 20% of the total revenue their content generates.
Envision is here to address this for content creators by leveraging blockchain technology.
Disrupting The Stock Footage Industry
Envision Stock is here to challenge the status quo of the stock media industry. Unlike traditional players who charge between 60-85 percent in commission fees alone, Envision is striving to completely revamp outdated pricing structures and remove unfair premiums by giving creators the full commission.
In a bid to make the stock media industry paperwork free and eliminate the need for inconvenient ownership contracts, envision introduces the peer-to-peer exchange of stock content for (VIS) ERC-20 tokens. The smart contract verifies the transaction on the blockchain platform and hands over ownership automatically, keeping a digital record and proof of authenticity.
Advantages to Content Creators and Consumers
Removing Intermediaries: Envision aims to build a platform for content creators that will remove the middleman, enabling them to sell directly to end consumers. Content creators will now have full control over the sale and distribution of their creations.
100% Revenue: The Envision Stock platform is completely fee-free where the entire revenue goes directly to the creator. In this model, creators can reduce their prices, resulting in better pricing for both creator and consumer.
Proof-of-ownership: By leveraging NFT technology, the Envision platform will be able to provide proof of ownership. An NFT will be issued for each piece of content, which will be associated with that specific piece of content and represent ownership of that content.
KYC Enabled: Envision bridges the gap between complete decentralisation and centralisation by enforcing KYC/AML regulations in which all users of the platform must be verified before using the buy/sell/trade features.
VIS Token and Its Use-Cases
$VIS tokens are ERC-20 based utility tokens that will serve as the core currency of Envision ecosystem. In addition to distributing rewards, VIS tokens will be used for content rights exchanges and for staking rewards.
VIS is a deflationary cryptocurrency created with the vision of increasing adoption and market capitalization through increased utility. VIS has three key functions including Fixed supply, Token Burn, and Liquidity balance.
- With every transaction, 0.2% of tokens are burned.
- A percentage of every VIS transaction is sent into a locked liquidity pool, which reduces circulating supply and increases liquidity as adoption increases.
- Fixed maximum supply, 100% of tokens are minted, and no additional supply will be released.
Envision Platform Overview
In the first version of the platform, there will be two main components: the creators’ portal and the marketplace. One type of account will give access to both the creator’s portal and the marketplace, enabling users to upload and purchase stock content.
Creators Portal: The content creator will use this page to manage their Envision account. Content in Envision will be vetted automatically to meet quality standards.
Marketplace: Users can search for, display, preview, select, and purchase/exchange content on the marketplace. The home page will show the latest and most popular content, along with content owned by the highest VIS holders and contributors on the platform.
Addition Resources and Documents
Download the White Paper.
