At noon CT (US Central Time) on August 15, 2017, we will take a snapshot of all holders of Embers (MBRS) on the Ethereum network. After we take the snapshot, we will begin allocating Tokenverse (TOV) at a 2:1 ratio to the amount of Embers present in the address at the time of the snapshot (NOT EXCHANGE ADDRESSES, but ERC20-compatible wallets such as MyEtherWallet, Mist, or Metamask.)
What is the use of TOV?
The TOV tokens will be the unit of value for the Tokenverse syndication network, which will include a variety of blogs and sites that will provide the new and experienced alike with many sources of knowledge and perspectives within the blockchain space. The intent behind Tokenverse is to create a network of sites that bring blockchain and related technologies within reach and understanding of all. The syndication structure will eventually allow for a blogger to feed their content into the Tokenverse main site and even other sites in the network. In time, we hope this structure will result in network effects for the content that strengthens the network as a whole.
TOV will be the only form of payment for services Tokenverse provides. In the short term this will be providing ad space for blockchain-based projects and products. Ad space will be available for individual sites as well as the network as a whole.
From this pool of revenue, certain percentages will be allocated to salespeople, content creators, the network as a whole, and individual sites. This will create a cascading effect for the value of the network in which all participants are compensated fairly for their contributions to the network’s growth.
Why not do a sale?
Tokenverse is a project of Embermine, Inc. Our flagship project is the Embermine Platform, a smart contract deployment platform that allows creative individuals to more securely and efficiently pursue their endeavors without relying on middlemen and legacy systems. We held a tokensale early June, but did not reach our funding goals, but because of the support shown by our early contributors, we decided to launch Embers. This project is a considerable undertaking that requires significant capital to develop in an effective, meaningful way. We thought of Tokenverse as not only an excellent project in its own right, but a complimentary venture that can help bootstrap the value of the Embermine ecosystem and accelerate its development. Since Embers will function as seats of a software licence once we reach MVP, providing the asset with short-term utility will benefit Embermine’s growth.
Since we decided to tokenize the ecosystem, we decided not to hold separate sales for each project. That approach would have been cumbersome and would have isolated the projects from Embermine (which defeats the purpose.)
We instead chose to build up from our modest token release and work to establish our runway.
All future Embermine projects developed internally will utilize this token distribution method.