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Virtonomics ICO Review

20 february 2018, 22:29

General Idea

Virtonomics wants to bring answer to millions of monthly queries on popular search engines related to phrases like "online job" or "online earning". They want to provide these jobs in interesting and creative way through an online game, which will be a MMO Business Simulator.

Virtonomics ICO Review

Online Business Simulation

The whole idea of the platform is to emulate the whole process of creating and establishing a whole financial ecosystem with a new digital currency. A Virtonomics player can act in two ways depending on his ambitions, experience and contribution capabilities. He can become an investor or owner of his own virtual company, that way he will be able to hire other players to work for him, with everyone having their own position and status at the company, from managers to workers. Ultimately, players will be able to earn the cryptocurrency by establishing their virtual companies, trading and competing against others, while developing the whole virtual economy.

Virtonomics ICO Review

Virtual Economy

One of the interesting aspects of the game is the fact that people will be able to develop their own virtual economy with this new cryptocurrency. Through mutual agreements, connections and work they will shape the virtual market. This fact is also a huge advantage of the project. Virtonomics essentially builds an alternative labor market with guarantees for fulfillment of mutual obligations by employers and employees. It enables creation of a new generation marketplace to bring together suppliers and customers from the real world in a game environment.

Virtual Companies

To continue expanding and scaling up, owners of large and growing virtual corporations can hire people to manage other players or take care of some particular business functions. No matter where they live, everything happens through the computers and the platform. The employer pays his employees in VICoin directly by using Ethereum-based smart contracts. Moreover, the game itself can become a good indicator to look for possibly good future managers and employees. If a person becomes a successful virtual business manager in game, he may also be a good choice in the real world. Therefore, the platform can be a good place for employers to look for potential valuable employees. The same goes for people who already own businesses, as Virtonomics provides the platform for teaching managers and entrepreneurs to apply skills of business management in a realistic simulation with no real risk. They can learn there and try new ideas and solutions, which can be later used in running real companies.

Blockchain Usages

Thanks to the blockchain technology the whole almost instant, secure and reliable transaction system is built. The smart-contract will take care of job contracts between players as well, allowing to create automatic payments for various completed tasks and make settlements between owners of virtual companies and hired managers whose goal is to ensure a high multiplier of Virts production for the employer.

The Token

VIC Tokens are the main cryptocurrency used for the transactions and payments within the platform and the game.

Virts are there to minimize the number and most importantly the cost of micro-transaction within the blockchain, lower transaction costs for users and boost the speed of cryptocurrency transaction, as they will be acting as the fuel for the main VIC tokens.

Digging Virts

Virtonomics ICO Review

There is an interesting way of earning their cryptocurrency. A user, who is called a digger, buys VIC utility tokens for fiat money or other cryptocurrencies. The tokens are available in VIC Store or on other external crypto exchanges. On each round of the game, diggers use their virtual assets to get a certain amount of Virts special game bonuses. Virts fuel VIC cryptocurrency. Virts aren't used for any payments within the game. Instead, he is able and needs to accumulate them for conversion into VIC tokens. Diggers who have already established and developed their virtual business are able to hire other users to help manage their virtual company. In that way they will be boosting efficiency and increasing the Virts multiplier. Employees are paid in VIC tokens. In order to get a job at a virtual company and start earning real cryptocurrency, a user should buy an employment license on the Virtonomics alternative labor market for business simulation.

ICO Phase

Virtonomics ICO Review

Pre-ICO Phase has already been running and will last until the end of February. Then the main ICO Phase will start. They plan to finish the tokensale in May. The initial price of the VIC token is $0.2. Target of the raised funds ranges at $100,000-$700,000, which would significantly help improve and fully develop the project.

The Team

As an advantage acts the fact that the game and the platform has been already working. The project has top position on search engines and user base of around 2 million users. This shows that the team behind Virtonomics are doing a very good job. The team consists of programmers and developers, who specialize in blockchain technologies, but also game designers to make sure the game itself is of the best quality.

Virtonomics ICO Review

Final Thoughts

To sum up, the game is already playable, which is a great advantage for the project, as it shows the main features and with enough funds raised it can only get better. The sole idea is also very interesting and can benefit many people, as it can become a convenient way of making some side online money, while having fun and playing the game. Moreover, as it's based on real life mechanisms, the sole business running experience can be then used in establishing real companies. People can try their strategies and employers can look for successful managers. The overall design of the platform looks very good.

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