Every day dozens of new tokens are announced. We go through them all to find the cream of the crop – giving you the scoop on top ICOs before anyone else.
After analyzing 26 token announcements, we’re picking RedBux for our ICO of the Day. RedBux is the native cryptocurrency for VRXCity, a VR porn platform.
Premise
RedBux is a payment token for adult entertainment, and the native cryptocurrency payment token for VRXCity, a Virtual Reality porn platform. The rule with any new technology is that the adult industry always adopts it first, and VR we think is no exception.
VRXCity already has a Minimally Viable Product demo in the form of a alpha test. While we have not accessed the alpha itself yet ourselves, the animated renders on the VRXCity page and the behind the shot scenes look quite promising. Instead of creating people from scratch, VRXCity/RedBux is actually creating 3D models and motion captures of existing adult models.
Team
RedBux has a solid team skilled in in 3D scans, modeling and motion capture of adult actors. Besides its core team, RedBux has signed on Wicked Pictures, a major adult film producer, on as a partner and advisor. Major porn stars such as Jessica Drake have also signed on.
One risk to the project is the lack of blockchain experts on the main team, as well as core backend development talent. Since VR porn is more than just animation, but requires gameplay, this is a risk to the project’s development timeline.
Token
RedBux’s Business model involves erotic actors, consumers, content providers, and advertisers on the VR platform, with RedBux being the common platform currency.
The project is hardcapped at 130 million euro, with a presale bonus of 35%. The crowdsale and presale will account for 65% of the tokens. Both token distribution and fund distribution are detailed on the RedBux ICO site.
Summary
There are some redflags with this ICO – the team could be stronger in terms of game development, and the token economics leave something to be desired. Nevertheless, RedBux is an ICO with a strong value proposition, a minimally viable product, a strong team, and undeniable market.
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