Introducing VIDYX — The Gateway to Web 3.0 Fan Engagement Metaverse For Digital Media and Entertainment

7 min readJun 19, 2021

Read this article to better understand VIDYX 2.0

VIDYX aims to build a new paradigm of fan engagement by building a universal platform for entertainments, esports, and brands to empower their fans to vote, fund, create, and enjoy on-chain fan benefits that also works as a gateway to NFT and metaverse experience.

The Opportunity

Despite the value of global entertainment &media industry and fan marketing economy hitting $2.1 trillion and $13.8 billion, the traditional environment offers only ‘one-way’ communication where the fans can only be passive audience and purchasers of licensed products with no influence on the decision making process of brands. To the Gen Z audience, a more engaging experience is preferred and the old-fashioned spoonfeeding brand storytelling is outdated. Apart from product selling and advertising, brands have very limited means of monetization on influence available.

With the rise of blockchain technology and non-fungible token market, fan economy sees an opportunity to shift the paradigm to make fans a part of the decision making and build a more engaging universe for fan engagement through brand tokens, NFTs, and DAPP as the gateway. VIDYX envision to an on-chain fan engagement platform that empowers all types of brands to interact with fans in a meaningful and mutually beneficial way.

About Brand Token

Brand token is a governance + utility token connecting brands and fans. It serves as an embodiment of a closer and more engaging relationship between brands and fans. Through bonding fan benefits of NFTs, membership, and future value growth into tokeneconomics, Brand token aligns the interests between brand, community, and individuals and accelerate the growth of the Brands.

Legality
As the brand tokens belong to the community and have real utilities like governance, NFT merchant purchasing, from legal perspective it will not be deemed as a security.

Value
For fans: better engage with their favorite celebrities, teams, or commercial brands. By holding brand tokens, fans also obtain benefits from advertisers and sponsors.

For brands: Brands can build better relationships with their fans by utilising brand tokens, NFT merchants, and tokenized benefits to closely bond their fans.

For sponsors: Through VIDYX DAPP and brand tokens, sponsors and advertisers can reach target audience with better targeting and engagement.

VIDYX serves the role as launchpad and management platform which offer the all-in one decentralized toolbox.

VIDYX’s Approach

VIDYX fan engagement platform consists of three major components:

Brand Token Offering&Swap

Brand tokens are issued through a decentralized brand token offering(BTO) launchpad. All token offerings are done through VIDYX token. Through an Automatic market maker(AMM) token swap, fans can exchange between various Brand tokens and VIDYX token.

The issuance of Brand token is tied to the estimated total value of IP provision by a Brand to VIDYX ecosystem. The core of Brand token is to capture the IP value through tokens and share with the token holders.

A decentralized launchpad & swap powered by $VIDYX to acquire and exchange Brand Token, a definite digital asset specific to a Brand that provides access to on-chain governance and membership ownership.

Some use cases of brand tokens include:

Entertainment Celebrity
Sports &e-Sports Clubs
FMCG &Luxury Brands

Brand Governance

Fans can directly participate in the decision making process of their favorite brands through Brand Governance via owning Brand tokens. Decisions made by fans voting will be recorded immutably on a public blockchain ledger and certainly executed by the brand.

In later development, more DAO-like governance methods will be introduced to create a more self-driven fan community including vault and fan proposals.

Brand token voting can be more than just for Brand governance. VIDYX will extend use cases of Brand Token outside the parameter of one certain brand. Contests, Talent Show, League, Tournaments, wherever fans’ voice needs to be heard, brand token can play its voting role in fair, engaging, and transparent manners harnessing the immutability of blockchain public ledger.

Brand NFT Merchant

Exclusive branded NFT merchant to brand token holders. The merchants can serve as collectibles, identity badge, and activators of fan benefits.

Through Vidy’s partnership with IP and crypto space leaders like Binance and Vogue, VIDYX can effectively turn its rich IP resources into NFT merchants that enrich the use cases of brand tokens. With NFT’s property of rarity and exclusivity, NFT merchants can be very valuable which adds to the utility and popularity of Brand tokens.

Every secondary sale of NFT will generate licensing revenue which goes to the Brand’s wallet address, creating a new revenue stream.

VIDYX Reward System

VIDYX will bring the Vidy blockchain-powered advertising reward system to a new height. Via Brand token-based engagement hubs, advertisers, sponsors of brands, or brands themselves can find a more entertaining and engaging way to interact with fans while monetization is achieved at the same time.

$VIDYX

Sponsors &Advertisers can buy and integrate $VIDYX into Interactive Ads of all forms (read &pop-up video, minigames, voting) so fans across VIDYX can be targeted.

Brand Tokens

Sponsors &Advertisers can buy and integrate Brand tokens into Interactive Ads of all forms to target fans of one or more specific Brands. While fans already established bond with the Brand, rewarding Brand tokens is a smart move to create more engaging experience with the targeted fans.

NFT Merchant

NFT merchant can be used for token reward in a form of mystery box or lottery usually as ‘cobranding’ or ‘collab’ campaigns. High engagement rate can be generated due to the campaign NFT merchant’s rarity.

About VIDYX Wallet

The full VIDYX will comprise of a wallet APP, a built-in DAPP performing Brand token offering(BTO), Brand token swap, governance, NFT Merchant, Ad Reward System, and APIs. VIDYX will be deployed first on Binance Smart Chain (BSC) and later to multiple blockchains.

Through BTO and Swap, VIDYX can capture the value of exchange of Brand tokens while providing a convenient venue for Brand Token Hub activities. Via APIs, VIDYX Wallet and VIDYX DAPP can be connected to multiple external ecosystem partners, including fiat gateways for $VIDYX, Ad &Sponsors who participate in the reward system, 3rd party protocols and other stakeholders.

Multichain Support for VIDYX DAPP and $VIDYX
Embedded Vidy-tech-friendly mobile browser with stronger visual support for web3.0 DAPPs
Easy access to VIDYX fan ecosystem with brand token wallet and swap built-in
Decentralised web with no privacy breach and data exploitation

VIDYX Token Multichain deployment

With VIDYX expanding, the VIDYX token will later be deployed to Binance Smart Chain(BSC). The migration will be done via locking up TRON-VIDYX and minting the same amount of BSC-VIDYX on BSC. The BSC-VIDYX token can be used across VIDYX ecosystem and VIDYX’s partners. For security concern, the migration will be done after a thorough audit and getting approvals from partner exchanges. We are aiming to complete the deployment by the end of July.

Tokeneconomics

Roadmap

VIDYX prepares to do a ‘soft launch’ by showcasing the brand token and NFT merchants product together with our Binance Smart Chain partners. The brand token launchpad & swap, and governance component are in progress and will be first launched as a Beta version in Q3 2021. Our goal is to enable more people from the off-chain fanbase to join the on-chain fan engagement metaverse so we are planning to achieve these through partnering with more fiat gateways and IP owners — more accessibility, more coverage.

We are also developing our own VIDYX wallet which is a decentralised wallet with built-in features of the VIDYX fan engagement platform so brand token owners can access these functionalities with one click. It also provides better support to Vidy’s very own video layer technology, reward system APIs, and other metaverse elements than any other existing wallet products, making a marvelous example as the Web 3.0 gateway.

About Vidy

Vidy, developed the world’s first video embedded layer and NLP protocol. It is one of the world’s largest blockchain-enabled rewarding ecosystem, powering VIDYX technologically. With a successful track record of over 5 years, our technology is used by more than 50 global media companies such as CNN, CNBC, Vogue, Esquire, Hearst Media China among many others, sits on over 10bn monthly page views of inventory, and has over 150mil of user base exposure monthly.

Follow VIDYX

Website: https://vidy.com

Twitter: https://twitter.com/VidyCoin

Telegram: https://t.me/VidyCoin

Instagram: https://www.instagram.com/vidycoin/