For Yizoot to be an all-encompassing eco-system, it requires its own unit of exchange. It is a new virtual social world in need of a virtual currency. The blockchain is the only environment that can provide a trusted stage for vCommerce where all transactions involving the token are audited and governed by smart contracts. The blockchain is also ideal for the Yizoot model as a virtual repository for storing 3D assets within one centralised registry and providing a normalised unit of value to the user purchasing assets and other premium offerings. For the advertiser, the need for auditing all aspects of its transacting with the Yizoot RAP engine is managed on the blockchain.
It is a utility token. Unlike with a security tokens, YZU Token holders are not entitled to part ownership, voting control, dividends or profit share in the company. The YZU enables users to interact only with YIZOOT’s services and does not depend on the success of profits generated entirely from the effort of individuals other than the creators or founders of the project. Thank you, Mr. W.J. Howey.
We do not view any players in the social VR environment as competitors, but rather potential partners. The landscape ranges from common social chat platforms like WhatsApp, WeChat, Snap and Line, to fully immersive interactive virtual environments like VR Chat, High Fidelity VR, Second Life, Entropia Universe, Habbo, Kaneva, Club Penguin, IMVU and Poptropica. With the Yizoot APIs and SDK being open to everyone, every participant in this exciting environment will be able to partner with us. That would include any messenger app, video platform, gaming engine and navigational product or service.
We are currently partnering with Priority Token to guide us through the token offer. Dr. Misha Sra of the Massachusetts Institute of Technology is heading our technical advisory team.
Yizoot Pty Ltd is a registered company incorporated in South Africa, company registration number 2014/276/123/07. The registered office is at 19 Adderley Street, Cape Town.
A total of $3.3M has been raised to date.
ETH, or any crypto currency functions outside of the Yizoot Ecosphere. That renders us vulnerable to external, speculative and regulatory elements beyond our immediate control. We don’t believe the value of a Yizoot related currency should be compromised by others.
No. Yizoot’s aim is not to be on the blockchain to be decentralised as it’s not a distributed paradigm. The platform is on the blockchain to ensure transparency in terms of smart contract governance and auditing around the YZU token, data and security. In terms of records, redundancy and accountability, Yizoot is decentralised by being on the Ethereum blockchain.
Value preservation and creation comes from the adoption and usage of the Yizoot platform and the users’ willingness to transact in a trusted environment. Our job is to make sure this happens by delivering a highly robust and coveted environment. Until then, our focus is to ensure that the token is not dumped in a speculative approach, by not discounting it at all during the token offer or allocating ‘free’ tokens at large. All unsold tokens will be burnt. In terms of early investor sentiment, we are building a closed economy, so tokens will not placed in lockup and subjected to staking or cyclic burning.
We have filed a number of patent applications related to systems and methods for navigating in a digital environment. All submissions have been amalgamated into a single application under PCT/IB2018/051341.
Yes. We are being advised by Von Seidels (www.vonseidels.com) around IP related matters, and Dingley Marshall (www.dingleymarshall.co.za) regarding technology and governance issues.
Yes. The project is currently funded by seed investors on a private equity arrangement.