On 4th of August 2022 at 2:00 PM UTC Crypto Talkz hosted AMA with VIST
🌟Mr. Daniel – Founder of “VIST” shared us the Details about ‘ VIST ‘ and it’s Unique features… 🌟
Host: 👋Hello Chat , Welcome to another exclusive Crypto Talkz AMA❤️
Today we are also very pleased to have Mr. Daniel [Founder] from VIST with us to talk about their current development and progress! Hello @Danielnz 🙂
Daniel : Hi Everyone =) thank you for sharing your time and letting me answer some of these questions from the community
Host: Welcome here.It’s a pleasure to have you here, thanks for joining us 🙂
Daniel : my pleasure
Introduction Segment
Can you tell us a little about your background Daniel?
Daniel: Sure, well I have 22 years’ experience as a software engineer and solutions architect in the banking industry,
specialising in security, internal tooling and systems, data analysis and process optimisation.
I have worked both on greenfield projects exploring new technologies and innovations, as well as
enhancing existing products and the constraints inherent therein.
and I have lead the creation of new toolsets and algorithms to processes data, including machine learning for one of the largest banks in the world. So I feel I have a strong technical background =)
Where did the idea for VIST come from?
Daniel: well 22 years.. I had to learn something
About VIST – I have actually worked as a consultant for various Content Creators as a side gig for several years now, and when talking to them, it becomes very clear what the actual issues are that they face on a day to day basis.
Most Creators that reach out for consultancy and advice are struggling to transition from being part time creators supported by working in traditional jobs, over to fulltime. The creators that have transitioned to fulltime are faced with massive uncertainty and risk on a daily basis to meet their financial obligations.
I started to think about how we could solve this actual key issue, a real problem, and we have found a real solution. This is VIST.
We can provide 10%, 20%, 30% or more improvements in every creators financial position, This is because we use new technologies such as blockchain and the web3 ecosystem to innovate in terms of establishing a new business model that enables the Creators to benefit through the complete removal of fees and risk. This is key also, we remove risk. For example; malicious chargebacks, long duration payment terms, minimum thresholds and much more.
Can you help us understand how the VIST business model is different from other crypto projects?
Daniel: Absolutely – To understand VIST you need to understand what are the key issues that Content Creators worry about, and these are;
1. finances
2. audience growth
if a creator can solve these 2 things – they are going to be very successful – They vast majority do not see concerns around protecting their content / IP via NFTs or other licensing mechanisms.
So there are two ways to change financial situations –
1. generate additional money, or
2. use technology and innovative ideas to reduce costs which in turn leaves additional money.
the crypto market is almost exclusively focused on option 1 – and unfortunately far too often its focused on the facade of option 1 with no actual economic activity supporting it – which then risks instability and collapse.
Whereas VIST is focused on option 2 – use technology and innovative ideas to reduce costs.
So let’s delve into this a little deeper…
I aplogise this is a lot of information! I hope everyone is ok! VIST operates on fundamentals that creates real activity to drive demand and growth. In economics, there must be a consumer, an end point where a person purchases a product or service to use for themselves, not for resell onto someone else.
VIST has this, our core business is facilitating transactions between creators of content and consumers of content. The people who subscribe to and support Creators are not doing so because they can resell the content! No, they receive the content, are satisfied and the flow ends there. This is economic activity 101. Consumers paying for a product or service.
The consumers are the supporters of Creators that pay monthly subscriptions to access exclusive / early access to their Creator’s content, access special offers and social networking or whatever the Creator defines. Patreon for example, currently has 200,000+ Creators and more than 7,000,000 (7 million) active “patrons” – 7 million people paying to access Creator content every month.
The Creator economy is projected to continue significant expansion over the coming 3 years.
VIST has this core consumer model, that includes end user consumption. But if you compare this to things like Play 2 Earn games, Move 2 Earn platforms and HODL meme coins, there is no end point. you buy access to an activity – not because the activity itself is the goal, no, but because you can resell to someone else. the purpose changes from consuming a product or service, to reselling a
product or service! and that is getting very close to MLM marketing schemes and pyramids. think about this, it’s really important. Consumers vs resellers.
whew! ok =)
Ok, so Consumer vs Reseller business models, certainly something to consider! But tell us please,how does all of this provide benefits to people that are not Creators, nor consumers, but just want to buy VIST tokens to generate potential gains for themselves in the future?
Daniel: Well, VIST still has all of the same upside potential as these other projects, indeed even greater potential I believe. Because it’s all about supply and demand, because we have significant demand drivers through consumer activity, this will naturally have a significant impact on the token price, the more demand the higher the price, the more Creators using the platform, the more demand.
This is then compounded by users that do wish to leverage this opportunity, such as everyone here in the AMA today, who want to buy VIST tokens and hold to take advantage of these natural price growth mechanisms. This also adds additional demand for the VIST token. – this is how most other crypto projects source most or all of their demand, whereas in VIST this is just one of many different sources of demand.
But the key thing to understand is that the price increase is a natural side effect of the actual economic activity on the platform. It isn’t the purpose of the platform and it isn’t the purpose of the token either, but supply and demand mechanics still apply and thus there is an opportunity for those that choose to purchase tokens for future gains.
That is clear, VIST really is a unique platform and a unique opportunity for all types of users.
Daniel: Yes, exactly, but there is only one real question here.. and that is – can VIST attract Creators to the platform – because if we can, then demand increases. This is the core question.
In my opinion this is a very big YES! because the advantages we offer, not only in capabilities and features, but also in the fact that with VIST Creators will always have 15 – 60% more money in their hands every month – and that is an extremely powerful message for Creators.
They can stay with Patreon, OnlyFans, Funhouse, Clubhouse etc and continuously see large chunks of their monthly earnings disappear in fees. Or they can move to VIST – have access to the same features abilities – plus more! and at the same time keep all their earnings 100% is theirs always!
These other companies that creators use currently hide a lot, the real fees that creators encounter on average range from 15 – 60% depending on what platform they currently use. This is massive and coming to VIST will have a significant positive impact on their earnings every month.
OK that’s a lot to consider, but very valuable information. Do you think that with the downturn in the markets and the economy will negatively affect VIST?
Daniel: The concerns about the state of the market is fair, but you need to consider where we actually are.. most crypto projects are not yet fully developed and so they make private sales with the intention of funding 2-3 years of work before any revenue occurs This is especially true for GameFi projects.
But our funding needs are completely different. Our product is already built! And not just an MVP alpha, but a complete and feature rich v1 product. Our apps are already available on booth google and apple app stores.
The next thing to consider is that most crypto projects are reliant on the crypto market in its entirety to provide transaction volume and activity. VIST is very different here, as we detailed earlier, a very large portion of VIST’s transaction volume will be coming from non-crypto users (i.e. everyone that is a supporter on Patreon and other platforms now).
If you combine this with the fact that in recessions and bear markets everyone becomes most cost conscious and the sentiment changes to focus on these aspects much more. This is where VIST shines, the current market is actually perfect for VIST and will accelerate our growth, because Creators are going to be investing more time into finding ways to reduce their expenses.
We already see a lot of data points about brand deals drying up and the offers being presented to Creators how significantly reduced remuneration.
VIST will thrive in this environment =)
OK, so if people want to know more about VIST, because it really is something different from what we are used to. Where can people go to learn more?
Daniel:
Well the first stop should be our website, you will find links there to download the app but also, links to the litepaper – which contains a lot of information about how VIST operates and also what motivates us, references and data points reputable sources so that people can see for themselves things like “malicious chargebacks” and the other problems that VIST solves that Creators face every
day.
The Pitch Deck – also linked on the site will provide a more visual and brief overview of the platform, but it also contains key information about the Tokenomics. Which I know everyone wants to know about – this is all available in the pitch deck that is linked in the footer of the website.
There is also another link everyone should check out. And that is the “live launch” link in the main menu – this will help provide additional info about our Launch roadmap, it includes things such as links to the Contract and also Vesting locks that can be publicly viewed.
Additionally everyone is welcome to ask queries in our telegram and discord channels =)
OK – can you please give us some insight into future plans, anything interesting on the horizon?
Daniel:
Yes! So much actually, a lot of this revolves around the second fundamental issue that Creators face – Growth – we have Phase 2 and Phase 3 planned out – and you can read more in the litepaper about phase 2.
But basically, we are developing a a crowdfunding component that will allow
Creators to pitch content ideas to the VIST userbase, and VIST will establish contracts secured as NFT’s that will give the VIST userbase the ability to fund and own Limited Content Series that the Creators will pitch, get funding, develop and release. The NFT’s allow for VIST users to trade and buy and sell their stake of the ownership of the specific content series that the Creators have agreed to make in return for the funding. NFT holders will then share revenue from ad’s sponsorships etc that the Creator receives from publishing their Content series onto youtube, tiktok etc.
This is a complete game changer for Creators. There is plenty of funding out there, hedges want to purchase ownership in youtube channels. But that has immense problems and massive risk for the creators as they are selling permanent ownership in their actual brand and business. VIST is going to be different, we are not buying onto the Creator, we are instead funding specific pieces of Content. And this makes everything much cleaner and clearer and easier. And the NFT ownership provides a liquid market so that users can sell their stake to other users, because content can take several months to prepare, film, edit etc. so NFT’s enables and clean market for users to trade in accordance
with their own needs.
What this means for Creators is that they can now explore new content ideas that would have been impossible previously, they can get funding for new ambitious projects, and not need to sell there own brand and IP over to corporate sharks. This is the community operating to generate something completely new in a mutually beneficial manner.
And this is just phase 2 – we have Phase 3 also! But we can’t go into that yet, I will just hint that its esports related!!
OK, wow, thank you! That is really exciting and final question is this intro stage – how can people buy VIST of they wanted to?
Daniel:
Well we have our IEO launching this Saturday with IndoEX and after that we will be expanding into many different CEX (such as coinsbit and bitmart later in august). But right now, buying VIST via our APP is the way.
The presale (seed price) is still available until tomorrow night and that is absolutely the best price to purchase VIST tokens. So if anyone wants, download the app and you can deposit BNB via metamask or trustwallet. Or fiat transactions via bank transfers are available now.
And remember – the Live launch – we have a very special bonus offer running now. Every week we will airdrop in 2% of your staked balance, and this can be compounded! This will run every Sunday night until October 30th!
Twitter Segment
Q1. VIST allows the option of making bank transfers. I would like to know what are the procedures and what kind of security is handled for this operation. What security can people feel when making transactions through your platform?
Daniel:
I wanted to speak about this, so I am glad to see this question, and its to help explain two different aspects of card payments vs bank transfers.
1. Security
2. Costs
So in terms of Security, we need to look at the differences. Card payments are a PULL mechanism, whereas bank transfers (and crypto wallets also) are a PUSH mechanisms. And this distinction is really important.
With payment cards, you send details out to many different websites and apps and all of these places, and anyone that is able to recover the details from any of these places has absolute control to pull funds from you. They initiate the transfer and receive funds completely independent of you!
This is inherently insecure, there are so many points of failure and attack vectors. And companies that process payments via cards have high costs, they have all sorts of fraud detection, administration costs, storage and continual analysis for stored data to detect tampering.
Using cards requires a 3rd party – the payment gateway and all of the additional people doing all these additional jobs to try and keep the data you give them safe. This drives up costs significantly.
The entire PULL model is fundamentally flawed. Crypto is much closer to Bank transfers, both of these are PUSH models and these are just fundamentally more secure and this reduces overheads in terms of storing data – reducing costs, reducing risk.
In reference to storing data – there is no data to store. In fact it’s the reverse, we tell you our data, here is our bank account number, here is our wallet address, and you then PUSH a payment to this data. But we never store your data, we never ask for it, you never give it, we never know it, your data is your data not ours. The best security is to not have anything that needs securing and when it comes to payment data – we never have it, and that makes it secure.
Q2. A lot of social platform do have withdrawal issue as a result of congestion of funds withdrawal, what plans is VIST taking to ensure this issue doesn’t occur in your platform?
Daniel:
Yes, this is a valid concern, but again our business model lends itself well to preventing such issues.
This is because we have constant recurring demand, via the monthly subscriptions, via live tipping, transactions will be flowing through VIST constantly and most of these will be FIAT payments. This means that VIST is never subject to any liquidity crunch in the wider market or with individual exchanges, most of the funds that are required to facilitate withdrawals are stored in bank accounts or in other liquid formats such as short term government bonds. Other projects require conversions to make withdrawals, Whereas we will always have a ongoing, recurring incoming flows of liquidity so we can always facilitate withdrawals.
Q3. What’s interesting is that VIST supports content creators, free of charge and a new way to increase your revenue with gifts and bonuses. But if there are no fees, then what is the revenue from your platform like? Can you explain what the VIST revenue model looks like?
Daniel:
this will be another long one =) hold one!
Yes sure, so forgive the in depth details, I hope no one is bored, but its important to understand and this is an important question.
So how does VIST make money? We have staking requirements, for users these are optional – users can stake and earn rewards if they want to – or not, its entirely up to them. But creators its different, they must stake. But let me explain.
So a Creator offers a subscription package, they define what is included and the price.. their supporters pay for this every month / week/ whatever from their VIST balance. So the Creator receives these subscription payments into their VIST account. They then have various options about amounts and time that they want to stake. So the smaller the % the longer the time required and vice versa.
So for example.. a Creator in Patreon now, paying 18% (platform fees 12% at their premium plan + payment processing, plus currency conversion plus the hidden fees etc) so every month, Patreon does a monthly charge to their supporters bank cards. And send this money to the Creator minus 18% so the Creator received 82% of the money charged to their supporters.
In VIST it works like this.. the creator received 100% but then must select a staking option. Let’s assume they choose the 10% for 90 day option.. so the creator opts to lock 10% into the VIST for 90 days. And the Creator can immediately withdraw the other 90% to their bank account that same day.
So we now have 10% of the total amount that is in FIAT, we then sell the Creator VIST tokens from our internal liquidity pool to the creator in return for the 10% of funds they staked. Thus giving the Creator VIST tokens and the FIAT to us. We then put that money to work for 90 days, be this via government bonds etc.
we will also be diverse and a large portion will be used to do things like provide PoS on nodes that validate blockchain, such as BNB Smart Chain where we will earn validating rewards. We will put this money to work – but through reputable layer 1, high liquidity projects, such as BSC, Ethereum once they move to PoS etc.
We will put it to actual economic work. When the time is up. We take the rewards we have earnt + the original staked amount and we buy our tokens back from the Creator and give them the FIAT in return. If VIST earnt more than our targets, we also give bonuses to the creator in addition to their original staked amount.
This is the same process for users that choose to stake also (except our target levels that trigger bonuses are different for users, they are more likely to get bonuses than creators because creators get other benefits – like use of the platforms services to promote their subscription packs etc).. when you stake.. we sell you VIST tokens in the app and take the fiat / crypto in return as we put it to work in real economic activity. But is always safe, we do things like bonds, PoS nodes, cloud mining etc. we don’t trade it, we don’t want the risk.
So to recap – for the Creator – they stake 10% – they immediately can withdraw the 90% remaining to their bank and then after the staking term ends, the creator receives the 10% staked + bonus back to their account, unlocked and free to also be withdrawn to their bank account. The Creators have freedom, they can stake smaller amounts, all the way down to 5% but they have to stake that for a longer period of time. In all cases, infinitely better than Patreon where the Creators are literally just waving goodbye to large chunks of their money forever in fees.
Simple, clean, safe, effective =)
Q4. In recent years, the Content Creation & Live Streaming Industry has seen a massive increase and there are currently a plethora of such platforms in the market. So, how does VIST plan to revolutionize the Content Creation market using its platform?
Daniel:
That’s absolutely correct, the Creator Economy has been booming and I believe will continue to do so, people become engaged in the personal story of the Creators that they follow and this connection is extremely valuable to corporations (it is to VIST also and forms a key part of our marketing mechanisms) but it has also meant that there is a lot of competition.
But everything comes back to the core issues that Creators face – Improve finances and expand their audience. VIST has both of these core issues meet. Firstly the Finances through our unique ZERO fees platform. We have covered this sufficiently I think =)
But also, phase 2 and phase 3 which are both really unique additions to our ecosystem that are both specifically designed to enable Creators to expand their audience. These features are designed for this exact need and no one else is offering anything like it!
Q5. 89% of creators are always looking for a radical new way of doing business,it’s true. So,can you tell us what is the radical new way of doing business that Vist offers for content creators bored with the same advertising schemes offered by web3.0 applications on the market today?
Daniel:
No one else does what VIST does. Our Financial featureset, the depth of integrations with broadcasting software such as stream elements, community integration such as discord, the flexibility that this provides to Creators to interact with their audience and add value to their streams. And then, we have Phase 2 – Content crowdfunding with NFT ownership for revenue sharing back to the community, phase 3 – Creators League Esports model.. everything we do is about providing real value to Creators.
There are others trying to innovate in the Creator economy, For example let’s talk briefly about projects trying to tokenise Creators. It may have some limited merit, if you are already a massively successful Creator who already doesn’t need to worry about finances.
Tokenising your brand will add significant overheads, additional staff, additional time, additional costs just to manage it.. then there other things that I think most just don’t consider.. if a Creators audience are trying to accumulate tokens instead of donating / tipping to the Creator what is the actual financial impact on the creator? Are they better off or worse? Also what fees are involved, there is such a lack of clarity and the actual end result for the creators is very uncertain..
And remember – if you are small or medium sized creator, forget it, the overheads will turn into a loss making exercise, you won’t have the audience to offset trading pressure and you are literally going to make yourself worse off.
These other Web3 Creator projects might work for extremely large creators only. But VIST works for everyone. VIST is truly unique, entirely so, we need to focus on actually solving the real needs that creators have, and VIST is the only one that does this, others are often going to be making finances worse for creators, not better. There is no competition to VIST out there. We are unique as far as I am aware. And that means we can capture significant market share!
Telegram Live Segment
How did you get the community involved in developing the project? and how do you build a strong community to grow globally?
This is a good one, We are in a unique position, because I am sure you have seen Creators pushing their Patreon links at the end of videos etc. The Creators have built trust with their audience and it is the creators that define where and how their audience can support them, so for us the key is to build connections with Creators and then let them grow our community for us. it means that we can be super efficient in our marketing activities and we are already doing this. we have a strategic partnership agree with StreamerSquare – which will be announced this coming monday actually. this is a reputable resource for Creators to learn and grow and they will be helping us network with all of their creators (which is many thousands)! but the key is, we will soon hit a critcal mass where the VIST brand becomes know and then we expect our community to thrive and grow very significantly
You point out that we can create our VIST account for free, but to create our first content, will we need to make any significant investment? if so, how much would it be? And when could I start generating income with the content created?
Hi I think there is a misconception here that is worth clarifying. VIST is not a content platform, so creators will continue to post their content to youtube, twitch, tiktok, wherever they wish, wherever they have built their audience, that won’t change if the Creator joins vist. VIST is a membership platform, so the Creator can define packages of perks (early access to youtube videos for example or merchandising, or just private social network via discord, whatever the creator defines. the creator promotes VIST as the method that their audience can can access to these packages. but we are not hosting content, we are a payment /membership platform – and course soon growing to include our content crowdfunding / NFT ownership of limited content series! very cool – but even these will be hosted on youtube etc, as that is where the creators audience is.
One of the great annoyances of social networks is the use of advertisements, so I ask you, will we see these same ones in Vist? or really when you mean “No ads or trackers”, do you mean other type of ads?
VIST will have no ads, its not applicable to our ecosystem, so there is no privacy concerns around us tracking you content preferences or activities, you have complete security always
When did IEO start and where can I participate in IEO VIST can you provide a link to the venue with details and with what pairs to buy at IEO VIST?
Our IEO starts this Saturday at IndoEX – you can buy VIST there with 4 trading pairs, but the you can also buy VIST in our app right now, and stake it to get the 2% weekly rewards until October 30th! when the IEO begins, the price in the app will change from the current cheap “presale / seed” price up to match the IEO pricing which is 60% higher than it is now
The creators are working so hard on social media platforms! There should be a option for supporting or tipping them some amount. Do you have any features like that and If so how can we support our favorite creators?
Daniel:
Hi yes we do! and this is another feature that we have that patreon doesn’t and never can due to their post monthly billing practices. whereas a creator on VIST can integrate with their streamer software, OBS, or services like DonationAlerts, StreamElements and receive instant real time tip notifications from within VIST! its very cool.
ok.. I think run out of questions I am allowed to answer (((
but if I may – please feel free to ask more in our TG group
Host : Thanks for diving us deeper unto VIST. Chat thanks also for those great questions.
It’s time for Wrapping Up, any other things you want to share with the community? @Danielnz 🙂
Daniel: I think we have covered everything =) I guess, I would just like to say Thank you! and we very much wish to create a vibrant and inclusive community where everyone is welcome, so yeah, here’s to VIST’s future together with you all. thank again!
📌 Here below are links for you to get the latest update about VIST
Community: https://t.me/vistnz
Twitter: https://twitter.com/vistnz
Website: http://vist.nz/
Discord: https://discord.gg/7A2aSUtY