What is it?
Vite is a decentralised platform for event creation, promotion and ticket sales started by former NFL player Phillip Buchanon. Currently in the Initial Coin Offering Stage, Vite, which can be accessed at https://www.vite.world, presents serious promise.
How it works?
Vite events and tickets are verified through Smart Contracts on the Ethereum blockchain. Vite’s team believes that this will decrease promotion costs and the prevalence of counterfeit tickets. Significantly, Vite allows event planners to select exactly who receives event invitations and provides real-time footage of events. This decreases the cost of hosting private and corporate events and even the more recent phenomenon of pop-up shops. Vite markets itself as the most efficient way to create, market and promote events.
Competence
The project is being developed by Philip Buchanon Enterprises. Unfortunately, Vite’s website presents no information on their team or their background. Additionally, Vite’s whitepaper lacks depth at only 11 pages long. While we do not doubt Philip Buchanon’s expertise on the field, we are unsure as to the technical competence behind Vite.
Token sale
Vite is currently in pre-sale and offers a 58% bonus for participation in this stage. Their ICO starts on 6thNovember 2019 wherein the bonus will be set at 31%. There will be no bonus in the last stage of their token sale. To participate in the token sale, you can get started here: https://www.vite.world/investors/new/.
Final thoughts
Vite is an interesting blockchain project with the potential to revolutionise event organisation. Its team is spear-headed by Phillip Buchanon and we have faith in his team delivering on the project, if for nothing else but the fact that his reputation is on the line. The pre-sale may be worthwhile of investment given the bonus applicable. We would advise that you only invest money that you would be comfortable losing, as will all cryptocurrency investments. However, should the project succeed, as we anticipate it to, those that buy coins in the bonus stages of Vite’s token sale may see significant returns on investment.