What is Vezt (VZT) Cryptocurrency Beginner’s Guide
Vezt is a marketplace for music intellectual property rights. Fans can buy rights to their favorite songs on this platform. Artists can raise funds through an Initial Song Offering. A portion of the song is sold to fans. In the future, fans will receive royalties every time the song is performed. The ISO includes a date and time when the rights are available.
VZT Token Information
Vezt utilizes the Ethereum blockchain. VZT is an ERC20 token. The ICO was held in November 2017. It had a maximum limit of 15 million USD. The total amount of tokens created was 125 million VZT. 50% of this amount was sold during the ICO. ETH payments were accepted. Investors received 25 million VZT. The rest of the tokens were distributed as follows:
50% – Private/Public token generating event
35% – Vezt. Inc. platform development
10% – Partnerships, marketing, PR
5% – Advisors and consultants
The funds from the token sale were used to cover the following expenses:
Software development; marketing/business development; international expansion; operational expansion; legal/accounting; and customer service
VZT tokens are traded on several cryptocurrency exchanges including COSS and Qryptos. VZT tokens are paired with BTC and ETH tokens. VZT has a market capitalization of $2.8 million. Daily volume exceeds $1,200. The circulating supply is 57,984,817 VZT.
The total value of tokens sold during the ICO is $1,380,644. The value of a VZT token during the ICO was 0.5 USD. VZT is a utility token. VZT can be traded for USD, EUR, BTC, and ETH. The app only accepts VZT tokens. US residents weren’t allowed to participate in the token sale. Unsold tokens from the crowdsale were destroyed.
Vezt has met their goals so far. Their roadmap has a few notable benchmarks.
Q4 2017 – 3 artists added to platform
Q3 2017 – Completed back-end and blockchain development/integration
Q1 2018 – Beta launch with selected artists and rights-buyers
Q2 2018 – Platform available to all artists and rights-buyers
Artist’s Rights and Buyer’s Rights
The artist decides how much of the song to sell. The artist can set the price for the percentage as well. The contract term is also decided by the artist. The last step is to set the date for the Initial Song Offering. The artist receives funds after the sale. The details of the sale and the song are recorded in the Vezt blockchain. STEM.is Aggregates digital royalties from several music websites including tunes, YouTube, Spotify, and Pandora. Vezt gets a 5-percent investor royalty fee.
Fractional music monetization is new. Artists can sell the rights to 1% of a song. This is very small, but it will add up over time. The right’s buyer is as important as the artist. In fact, the right’s buyer is promoted on social media websites. Investors aren’t limited to a single song. They can invest in several songs. Every part that an investor owns can become a trend that fans will follow.