Empowering Social Influencers and Brands with a decentralized business model, hyper community engagement, viral gamification, and rewards for the entire ecosystem.
Come. Create. Collect
The NFT space is exploding, and there are vast amounts of market opportunities to represent the value of content that the community attributes to it. “Social Influencers” and “Brands” (collectively, “Social Creators”) are looking for ways to engage their audiences to satisfy their insatiable appetite for connection, content, memorabilia, and — most importantly — a chance to be part of the success of the influencer or brand journey.
The VRYNT platform (the “Platform”) was created to facilitate that realization. The Platform creates an environment wherein Social Creators can provide and engage their audience with content they love, monetize that engagement immediately, and allow the community to create value as well as share in the success of the Social Creator.
In this brave new world, the VRYNT platform will be the bridge that ushers in innovations required to connect brands and social influencers throughout the Metaverse.
Between 2018 and the fourth quarter of 2021, the NFT market has risen from USD 40 million in NFT sales to USD 7 billion. The growth rate has been astronomical, as we have seen traditional brands such as the National Basketball Association, Electronic Arts, Meta, and numerous others enter the NFT market.
Between 2015 and 2021 the Influencer Marketing industry has increased from USD 800 million Influencer Marketing Spend to a staggering USD 15 billion according to Social Vex.
Social Influencers are redefining Art, Culture, and Entertainment on the canvas of the Metaverse. NFT’s facilitate a new investable asset class: Meta Culture
VRYNT is the e-Commerce engine that enables Social Influencers to Decentralize, Democratize, Monetize and Hyper-engage this Meta Culture.
The VRYNT Platform creates the “Easy Button ‘’ for Social Influencers who lack familiarity with minting NFT’s or creating complex NFT collections. This allows Social Influencers to quickly and easily hyper-engage their audience with a fun, community based, value creation engagement.
The easiest way to understand the Platform is through the following “Social Creator” hypothetical:
Bella is a Social Influencer on TikTok. She has a following of 250 thousand users and is loved by all. Bella accesses the Platform and decides to create a “collection’’. It does not cost her anything other than 5 minutes of her time. The Platform walks Bella through a painless and streamlined process to create the business model around her collection. She merely has to complete a number of prompts, such as:
- What image would you like to start with? (Upload one or choose)
- The Theme: Tell your audience about what the collection should be about (for purposes of the hypothetical, we will assume she chose the theme, “Bella’s Music Video Cover Art.”
- How many VRYNTs of (NFT’s) will be in this collection? (For purposes of the hypothetical, we will assume she chose 5,000).
- How Many components will the community need to purchase to create a VRYNT in your collection? She chose 15.
- What is the starting price for the first component? She chose USD .01
- What is the incremental price for each additional component? She chose USD .0025.
- When would you like your collection to drop? She chooses 7 calendar days from now, so she has time to hype up her collection to her audience.
Bella goes on to tell her community to join her and build a VRYNT (NFT) in her collection that drops in 7 days. As the countdown to her collection launch happens, her fans are at a fever pitch. They know her collection is going to sell out quickly, and they want to be the very first to buy “Card Packs” of components while they are inexpensive in order to build their VRYNT in Bella’s collection.
On drop day, the fans are lined up waiting for the “build” button to light up as the countdown to Bella’s drops reaches 3,2,1. Let’s GO!
As the packs begin to sell, the first one sells at USD .041; the next at USD .975; the following at USD 1.53. As the community opens their packs, they find inside “components’’ with a corresponding “scarcity” level. Community members can decide to build their VRYNT with the components they have, try to find more scarce components in other packs, or bid on rare components from other community members.
The components themselves are Artificial Intelligence image manipulation filters. The components allow the community to modify Bella’s original image into a new unique image that is owned by the builder of the VRYNT. The community gets lost in the game of tweaking the image to perfect the look they hope the community — as well as Bella with her Social Creator ranking — will rank highly. This “gamifies’’ the following dynamic among community members: will they be able to achieve a valuable, newly-minted NFT by gaining a high ranking from the community and/or Bella, or by using very rare components to build it?
Once the VRYNT is finished, it gets published to the “Bella’s Music Video Cover Art” collection. The creators are incentivized to leave the VRYNT in the marketplace as they collect “Gallery Rewards” in the form of a Platform “credit” every day they leave the VRYNT in the gallery. They are eligible to collect Gallery Rewards one time up to the original value of the sum of all components used to create the VRYNT — an important factor to consider for someone deciding to purchase the final pack in the Collection for a price USD ~2,812.
As packs are sold, Bella is allocated a revenue share of all such packs sold, causing her “proceeds pool” to rise proportionally. She is also allocated a portion of the price of every component that is traded between community members and every VRYNT that is sold directly or in auction on the VRYNT marketplace.
The builders of VRYNTs in Bella’s collection also have the opportunity to trade their NFTs and receive proceeds for the VRYNTs they built and sold. As previous owners, they also will receive proceeds as the VRYNTs are sold to other collectors on the Platform.
The Platform is designed to generate economic incentives for all parties involved, and create an engaging experience between the Social Creator and their fan base along the way.
The story does not stop here with Social Creators.
Celebrities, retail, media, sports, and gaming companies are all Social Influencers. They all want to generate revenue and engage their audiences in an intimate and meaningful way.
The VRYNT Platform provides an explosive opportunity to monetize a social engagement experience in all of these market verticals.
VRYNT Token (the “Token”) is a functional utility token which will be used as the medium of exchange between participants on the VRYNT platform in a decentralized manner. The goal of introducing VRYNT Token is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on the VRYNT platform, and it is not, and not intended to be, a medium of exchange accepted by the public (or a section of the public) as payment for goods or services or for the discharge of a debt; nor is it designed or intended to be used by any person as payment for any goods or services whatsoever that are not exclusively provided by the issuer. VRYNT Token does not in any way represent any shareholding, participation, right, title, or interest in the VRYNT corporate entity or any of its affiliates, or any other company, enterprise or undertaking, nor will VRYNT Token entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in Singapore or any relevant jurisdiction. VRYNT Token may only be utilized on the VRYNT platform, and ownership of VRYNT Token carries no rights, express or implied, other than the right to use VRYNT Token as a means to enable usage of and interaction within the VRYNT platform. VRYNT Token will be utilized as the primary mechanism for settling purchases of items and distribution of proceeds (from sales of card packs or gallery rewards, as described herein) for various Platform activities.
The company intends to do a standard Public token sale in Q1 2022.
Notwithstanding the VRYNT Token distribution, users have no economic or legal right over or beneficial interest in the assets of the VRYNT underlying corporate entity or any of its affiliates after the token distribution.
To the extent a secondary market or exchange for trading VRYNT Token does develop, it would be run and operated wholly independently of the VRYNT corporate entity, the distribution of VRYNT Token and the VRYNT platform. Neither VRYNT nor its affiliates will create such secondary markets nor will they act as an exchange for VRYNT Token.
The Token has no designed inflationary or deflationary aspects. There is a fixed supply of 10,000,000,000 (ten billion) tokens.
It has no staking, or dividend functions, or any mint or burn function (save for the technical implementation of cross-chain functionality, which would necessarily require modification of the token supply between supported blockchains in order to ensure that the total supply remains unchanged). It is a vanilla token designed only to provide utility to the ecosystem.
The key concept behind the Platform is its core and primary function as an e-Commerce system that facilitates revenue generation for the participants. In this light, we have designed it to intrinsically protect the proceeds for all participants on the Platform from any price fluctuation, as well as KYC, AML and CFT compliance concerns.
There are three important accounting mechanisms inside the Platform.
Pegged to USD and can be used to convert proceeds to VRYNT Tokens.
VRYNT Platform Credit
Pegged to USD and can be used on platform only (“Gift Card Mechanism”).
Varies in rate by market forces and can be taken off platform to an exchange (no guarantee; only if made available by third parties).
In order to purchase any item on the Platform, VRYNT Platform Credits must be purchased first. These are in-store credits that can be thought of as vendor “gift card” equivalents.
VRYNT Platform Credit can be purchased via the following methods:
- VRYNT Tokens (an Avalanche token)
- Coinbase Commerce supported tokens
- Stripe supported Credit and Debit
- VRYNT Credit
All merchandise on the Platform (Component Packs, Components, NFTs) can be purchased via the VRYNT Platform Credit.
When a Social Creator, builder, or collector on the Platform receives proceeds for selling packs, components, or NFTs, their proceeds are placed into an internal on-platform account called VRYNT Credit. Once a minimum amount is reached (for example, USD 100) the user can claim their proceeds in Tokens.
A successful ONFIDO (or equivalent) based KYC process is required for a user to claim Tokens on the Platform. Unsuccessful KYC checks can only spend their VRYNT Credit on the Platform and will be unable to convert VRYNT Credit to Tokens.
Important Legal Notice
THIS WHITEPAPER IS PUBLISHED BY HASHCHI COLLECTIBLES INC. (“HASHCHI”) FOR GENERAL INFORMATION REGARDING THE PROPOSED VRYNT PLATFORM AND SPREAD AWARENESS OF THE PROJECT IN ITS CURRENT FORM. ASIDE FROM PROVIDING THIS WHITEPAPER AND CERTAIN OTHER MATERIALS, HASHCHI INTENDS ONE OR MORE BLOCKCHAIN TOKEN SALE EVENTS, WITH ANY TOKENS (“VRYNT TOKEN” OR “TOKEN”) SOLD IN SUCH EVENTS DECLARED AND AGREED TO BE NON-SECURITIES (OR “UTILITY TOKENS”) TO THE FULL EXTENT PERMITTED BY LAW, WHETHER OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION. WITHOUT PREJUDICE TO SUCH GENERAL NON-SECURITY TREATMENT IN RESPECT OF THE TOKENS, THESE LEGAL TERMS MAKE REFERENCE TO PROSPECTIVE TREATMENT OF TOKENS SOLD AS “SECURITIES” (WHETHER UPON REGULATORY APPLICATION OF HASHCHI OR BY OPERATION OF LAW), PERTAINING TO PARTICULAR INSTANCES WITHIN SPECIFIC JURISDICTIONS.
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THIS WHITEPAPER IS SUBJECT TO CONTINUAL REVIEW AND REVISION BY THE CORE TEAM AND/OR LEGAL ADVISORS OF HASHCHI. THE WHITEPAPER IS NOT INTENDED TO BE PUBLISHED OR DEEMED COMPLETE, AND MAY BE UPDATED FROM TIME TO TIME, WITH NO OBLIGATION BY THE VRYNT CORE TEAM TO INFORM YOU OF ANY CHANGES. THIS WHITEPAPER SHALL NOT BE LEGALLY BINDING OR ENFORCEABLE BY ANY RECIPIENT AGAINST HASHCHI OR ANY OF ITS AGENTS OR AFFILIATES.
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THE RECEIPT OF THIS WHITEPAPER DOES NOT CONSTITUTE AN INVITATION TO A RECIPIENT TO SUBSCRIBE FOR TOKENS IN A JURISDICTION WHERE IT IS NECESSARY TO COMPLY WITH REGISTRATION OR ANY OTHER LEGAL REQUIREMENT TO MAKE THAT INVITATION LAWFUL. NO SUCH RECIPIENT MAY TREAT THIS WHITEPAPER AS AN INVITATION TO SUBSCRIBE FOR TOKENS. FOR AVOIDANCE OF ALL DOUBT, THIS WHITEPAPER EXPRESSLY DOES NOT CONSTITUTE AN OFFER OR SOLICITATION:
(A) BY ANYONE IN A JURISDICTION IN WHICH SUCH OFFER OR SOLICITATION IS NOT LAWFUL OR IN WHICH THE PERSON MAKING SUCH OFFER OR SOLICITATION IS NOT QUALIFIED TO DO SO; OR
(B) TO ANYONE TO WHOM IT IS UNLAWFUL TO MAKE SUCH OFFER OR SOLICITATION.
IT IS THE RESPONSIBILITY OF EVERY PERSON IN POSSESSION OF THIS WHITEPAPER AND EVERY PERSON WISHING TO APPLY TO PURCHASE TOKENS TO INFORM HIMSELF, HERSELF OR ITSELF OF, AND TO OBSERVE ALL APPLICABLE LAWS AND REGULATIONS OF ANY RELEVANT JURISDICTION.
BY ACCESSING THIS WHITEPAPER, YOU REPRESENT AND WARRANT TO HASHCHI THAT THE VRYNT TOKEN MAY HAVE NO VALUE, THERE IS NO GUARANTEE OR REPRESENTATION OF VALUE OR LIQUIDITY FOR VRYNT TOKEN, VRYNT TOKEN IS NOT AN INVESTMENT PRODUCT NOR IS IT INTENDED FOR ANY SPECULATIVE INVESTMENT WHATSOEVER, AND NONE OF HASHCHI OR ITS AFFILIATES OR THE VRYNT TEAM MEMBERS SHALL BE RESPONSIBLE FOR OR LIABLE FOR THE VALUE OF VRYNT TOKEN, THE TRANSFERABILITY AND/OR LIQUIDITY OF VRYNT TOKEN AND/OR THE AVAILABILITY OF ANY MARKET FOR VRYNT TOKEN THROUGH THIRD PARTIES OR OTHERWISE.
VRYNT TOKEN ARE DESIGNED TO BE UTILISED, AND THAT IS THE GOAL OF THE VRYNT TOKEN DISTRIBUTION. IN PARTICULAR, IT IS HIGHLIGHTED THAT VRYNT TOKEN:
(A) DOES NOT HAVE ANY TANGIBLE OR PHYSICAL MANIFESTATION, AND DOES NOT HAVE ANY INTRINSIC VALUE (NOR DOES ANY PERSON MAKE ANY REPRESENTATION OR GIVE ANY COMMITMENT AS TO ITS VALUE);
(B) IS NON-REFUNDABLE AND CANNOT BE EXCHANGED FOR CASH (OR ITS EQUIVALENT VALUE IN ANY OTHER DIGITAL ASSET) OR ANY PAYMENT OBLIGATION BY HASHCHI OR ANY OF ITS AFFILIATES;
© DOES NOT REPRESENT OR CONFER ON THE TOKEN HOLDER ANY RIGHT OF ANY FORM WITH RESPECT TO HASHCHI OR ANY OF ITS AFFILIATES, OR THEIR REVENUES OR ASSETS, INCLUDING WITHOUT LIMITATION ANY RIGHT TO RECEIVE FUTURE DIVIDENDS, REVENUE, SHARES, OWNERSHIP RIGHT OR STAKE, SHARE OR SECURITY, ANY VOTING, DISTRIBUTION, REDEMPTION, LIQUIDATION, PROPRIETARY (INCLUDING ALL FORMS OF INTELLECTUAL PROPERTY OR LICENCE RIGHTS), RIGHT TO RECEIVE ACCOUNTS, FINANCIAL STATEMENTS OR OTHER FINANCIAL DATA, THE RIGHT TO REQUISITION OR PARTICIPATE IN SHAREHOLDER MEETINGS, THE RIGHT TO NOMINATE A DIRECTOR, OR OTHER FINANCIAL OR LEGAL RIGHTS OR EQUIVALENT RIGHTS, OR INTELLECTUAL PROPERTY RIGHTS OR ANY OTHER FORM OF PARTICIPATION IN OR RELATING TO THE VRYNT PLATFORM, HASHCHI OR ANY OF ITS AFFILIATES, AND/OR THEIR SERVICE PROVIDERS;
(D) IS NOT INTENDED TO REPRESENT ANY RIGHTS UNDER A CONTRACT FOR DIFFERENCES OR UNDER ANY OTHER CONTRACT THE PURPOSE OR PRETENDED PURPOSE OF WHICH IS TO SECURE A PROFIT OR AVOID A LOSS;
(E) IS NOT INTENDED TO BE A REPRESENTATION OF MONEY (INCLUDING ELECTRONIC MONEY), SECURITY, COMMODITY, BOND, DEBT INSTRUMENT, UNIT IN A COLLECTIVE INVESTMENT SCHEME OR ANY OTHER KIND OF FINANCIAL INSTRUMENT OR INVESTMENT;
(F) IS NOT A LOAN TO HASHCHI OR ANY OF ITS AFFILIATES, IS NOT INTENDED TO REPRESENT A DEBT OWED BY THESE ENTITIES, AND THERE IS NO EXPECTATION OF PROFIT; AND
(G) DOES NOT PROVIDE THE TOKEN HOLDER WITH ANY OWNERSHIP OR OTHER INTEREST IN HASHCHI OR ANY OF ITS AFFILIATES.
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