Varius World Tech ICO: Aiming to Disrupt the Betting and Gaming Market
Varius World Tech (VWT) is a technology company based in the United Kingdom that focuses on providing services and software to the gambling industry. The focus of Varius World Tech is on using blockchain’s Distributed Ledger Technology (DLT) for delivering security, data integrity, and functionality. As of 2016, the gambling market was $44.6 billion, and it is predicted to reach $59.79 billion by 2020 and $81.71 billion by 2022, creating a large opportunity for Varius World Tech. In addition to overall improvements to security, functionality, and data integrity, Varius World Tech also has a list of specific needs or issues that the company resolves. The gambling industry requires a trusted environment for customers, a visible and decentralized RTP for each game screen, a decentralized random number generator, a quicker KYC process for the customers, cost-effective AML and KYC processes for the casinos, modernized brand adoption for the video slots, honest reward schemes for the recreational customers, and artificial intelligent to identify problematic customers. Varius World Tech can provide all of these things via the use of blockchain technology.
Challenges Facing the Online Casino Industry
In addition to those specific issues, Varius World Tech also aims to resolve some specific challenges that the casino industry faces. It can be difficult for casinos to keep up with the changes to technology and demographics. It is also challenging for casinos to achieve customer loyalty and retain recreational players given the highly competitive market. Varius World Tech will also help casinos deal with the pressures related to compliance and regulations, including AML and KYC.
Varius World Tech recognizes that the online casino industry faces challenges of security via cyber threats that could compromise data. The company also dislikes the fact that consumers must rely on third parties, particularly given the potential of the industry for corruption. Finally, there are issues related to spotting vulnerable and problem gamblers.
What Is VI Protocol
VI Protocol (Varius Integrated Protocol) is one of the products from Varius World Tech. This innovative casino hosting platform is designed to bring the blockchain’s integrity to the industry of online gambling. The VI Protocol will be tailor-made to meet online casinos’ needs. The protocol will deliver the openness and trust associated with the blockchain along with the agility and speed needed for gambling’s fast-paced world. VI Protocol will include a transaction speed of as much as 50,000 tps and integrate licensing, compliance, and legal layers into its core.
Another product from Varius World Tech, the VoX (Varius Online eXchange) Wallet will use the VWT token as a way to make it possible for anyone to gamble online. This token will allow for a cost-effective and quick solution for customers and casinos alike. From a user standpoint, VoX Wallet will allow for the deposit of various currencies and the ability to play in a range of jurisdictions. The product will be easy to use and quick. Varius World Tech will create partnerships with hundreds of casinos around the world, making it possible for users to play globally without the restrictions they currently must deal with.
Some of the key features of the VoX Wallet include the ability to deposit in several currencies, peer-to-peer transfers, no transaction fees, the ability to access the wallet globally via the app for tablets and mobile devices, the bonus reward scheme, and the daily exchange rates for major cryptocurrencies and fiat.
Winberry Casino is another product from Varius World Tech. This is the project’s online casino platform and Varius will use it to test all the technology the company produces. Additionally, Winberry Casino will be a white-labeled solution that existing and new casinos can purchase. Winberry Casino is a software solution that will allow for engagement of end-users by combining a new approach for online gambling with some unique offerings. The software will have low entry costs along with simple onboarding and a fresh design, features that both consumers and clients will appreciate.
Winberry Casino will include traditional casino games along with proprietary games. The traditional games include cards, tables, slots, jackpots, and poker. There will also be a retro jackpot suite, unlike anything that has ever been introduced to online gambling. The software will make it possible for users to begin playing within seconds in their local currency, no matter where they are.
The VWT token will be a global gambling currency. Varius World Tech has the goal of bringing the VWT token to global adoption for use as the primary currency for any online, land-based, and on-chain casinos. The token holds value for the Varius community as well as end-users and investors. As many as 350 million VWT tokens will be minted. Among those tokens, 23 percent is allocated for the public sale with another 23 percent going to the founders. Sixteen percent is allocated to the private presale, 17 percent to seed investors, 11 percent to staff and advisors, 7 percent to the casino reserve, and 3 percent to roadshows.
Varius Token Sale
The VWT private sale will begin Dec. 1, 2018. Currently, you can register your interest in the public sale, and Varius World Tech will contact you when that sale begins. The token sale will run until April 30, 2019. During the sale, there is a soft cap of $25 million USD and a hard cap of $100 million USD.
Varius is transparent regarding how it plans to use the funds generated during the token sale. Twenty-three percent of the funds will go to other operating costs and 22 percent to brand licensing. Twenty percent will be dedicated to other marketing and sales. Finally, 18 percent will go to employee costs, and the final 18 percent will go to development and IT.
Varius World Tech is a technology company in the United Kingdom that aims to deliver blockchain-based software and services to those in the gambling industry. The solutions from Varius will overcome industry challenges and improve the online gambling experience for both casinos and consumers. The token sale will begin in December and run until the end of April 2019.