Announcing Rhovit and ChainX Listing Event

We’re happy to announce the Rbit will be listing on the ChainX exchange! A top South Korean Exchange, ChainX is building an amazing community of crypto and blockchain enthusiasts which we’re thrilled to be a part of!

Since this is our first exchange we will be holding a LISTING EVENT!

We’ve kept Rbits in limited circulating supply, with 87.5% locked to platform usage. But to celebrate our first listing and fuel the next release of the platform we are offering approximately 0.6% of the total supply for discounts and bonuses! Check out the details below!

Connect on Telegram @rhovitplatform

Listing Event Details

Sale 1:

Begins: March 23, 2020

Ends: March 28, 2020

Rbit Price: $.20 plus 15% Bonus

Hard Cap: $2,000,000

Extra Perks:

Contribute 15 ETH or more and receive 1 Ledger Wallet (Limit 30 Units — first come, first serve)

Contribute 50 ETH or more and receive 1 Apple iPad Air 64GB with Smart Cover (Limit 20 Units— first come, first serve)

Contribute 100 ETH or more and receive 1 Herme`s Apple Watch plus 1 Limited Edition RHOVIT BlackCard NFT (Limit 10 Units Each — first come, first serve)

Sale 2:

Begins: April 2, 2020

Ends: April 6, 2020

Rbit Price: $.25 plus 10% bonus

Hard Cap: $3,000,000

Extra Perks:

Contribute 15 ETH or more and receive 1 Ledger Wallet (Limit 30 Units — first come, first serve)

Contribute 50 ETH or more and receive 1 Apple iPad Air 64GB with Smart Cover (Limit 20 Units — first come, first serve)

Contribute 100 ETH or more and receive 1 Herme`s Apple Watch plus 1 Limited Edition RHOVIT BlackCard NFT (Limit 10 Units Each — first come, first serve)

To participate in the sale you must sign up for a ChainX account and complete KYC.

Rhovit Sale Details

About Rhovit

Rhovit is bringing content gaming to the masses! An entirely new type of platform based on virtual and cryptocurrency, Rhovit allows viewers to level up for greater rewards while also enabling content creators to earn more money.

Rhovit has been in open beta for about 8 months with thousands of viewers signed up and earning daily. Featuring short-form videos and articles, this version allows viewers to earn Rbit Tokens for unlocking content and watching ads. Rbits can then be used as discounts in the Rbit Shop — Rhovit’s built-in marketplace for merchandise and token backed assets.

Phase 2, which is 90% complete, will have these additional features:

Added content types (Podcasts / Series)
Reward Pools (Viewers can level up for greater payouts)
Zone Rewards (Content Creators can offer their own loyalty rewards)
Enabled for larger publishers (Tools for partners to better organize, display and run their “zones”)
Comment Sections and more!

RHOAM is Coming

Rhovit is already gamified, but Rhoam will turn it fully into a game! Designed to return part of the profit of the platform back to its viewers along with distributing other partner rewards — Rhoam will allow viewers to collect game pieces using Rhovit and then use or trade them in Rhoam to gain treasure.

Token Backed Game Assets

Rhoam features 4 different types of assets — three of which are token backed and fully owned by the holder. Based on Rhovit’s own ERC1155 contract, we are currently holding a series of pre-sales, which will be the only time token backed assets will be able to be purchased directly from us. After the “Genesis” sale, they will only be able to be won, bought or traded from another holder.

More details on Rhoam and how the assets work can be found here.

About the Rbit Token

The Rbit Token is based on the NEM Blockchain and is the backbone of Rhovit’s ecosystem. Earned by viewers, creators and sellers — it can be used for both discounts and promotions on the platform. It also fuels all advertising, which is what will create the main source of demand as the platform grows.

Basics

Total Supply: 4 Billion

Circulating Supply: 31,907,312 (0.8% of total supply)

Max Circulating Supply After Listing Event: 56,607,312 (1.4% of total supply)

Locked Tokens to Platform: 3,500,000,000 (87.5% of total supply)

Years to Distribute Locked Tokens: 33 plus years (max of 104 Million yearly / 2 Million Weekly)

Reserve / Team / Partners / Sale / Beta Distribution: 500 Million (12.5% of total supply)

Blockchain: NEM

Symbol: Rbit

Platform Distribution Breakdown

When RHOVIT hits scale (Approximately 200K Weekly Active Users), we will start distributing from the platform locked tokens at the rate of up to 2 million weekly. (During beta we are using the 500M Reserve fund to reward users and creators.)

The 2 Million Tokens will be split into 4 separate pools.

Pool 1 — Liquidation to fund free “Points” to viewers.

Points are what viewers spend to unlock content on RHOVIT. They are USD based and content creators keep 100% of all Points earned.
Max Liquidation Amount — 800K
Rhovit uses funds from liquidation to distribute Points to viewers based on their activity. The more active a user, the more points they receive.

Pool 2 — Direct Distribution to Viewers

Max Tokens — 700K
There will be 5 levels of payouts for viewers. The viewers who are the most active on the site will receive a higher level of payouts.

Pool 3 — Direct Distribution to Creators

Max Tokens — 300K
Creators earn their share of tokens based on the traffic they drive to the platform.

Pool 4 — Direct Distribution to Sellers

Max Tokens — 200K
Sellers earn their share of tokens based on the number of items they sell in the marketplace.

Rbit Use Cases

Currently, viewers on Rhovit can use their Rbits to receive discounts in the Rbit Shop. Priced at $.25, sellers set the amount of discount they want to offer with the minimum being $1. Viewers can choose if they want to pay full price or use their tokens for the discount. So far, over 80% of all items purchased in the shop have been bought using the discount.

Phase 2:

Creators and Sellers will be able to use their Rbits to promote their content on the platform and build their audience.

Rewarded Advertising: All ads on Rhovit are opt-in by viewers and will never be placed on content. Ad space will ONLY be able to be purchased using Rbit Tokens, creating more and more demand for the token as the platform grows.

Supply and Demand

We had initially started to do an ICO in 2017 when we were still laying out how the new economy of Rhovit would work. Companies were making millions, sometimes hundreds of millions of dollars based on nothing more than a whitepaper.

Ultimately we decided against it and one of the biggest reasons was supply and demand. It didn’t make sense to sell out 50% or more of your token supply without having a platform or a user base to back it up. When we say user base, we don’t just mean holders of the token — but people actually using the platform it’s made for in a meaningful way.

We decided to take a little longer route and build the platform, get people using it and figure out a token distribution model that made sense, while still giving us the ability to access funds to help it grow.

Rhovit is designed for the masses with the ability to benefit from a token-based economy without ever having to know anything about crypto or blockchain. Tokens can be earned and spent right on the platform without needing a wallet or exchange. This design is important because the main driver of demand for the token will be advertising and the more viewers we have, the more accessible we make the site — the more advertisers will come. By keeping the supply low and only releasing the majority of tokens through the use of the platform, we help guard against supply overtaking demand.

Team/History

Based in Los Angeles, CA — Rhovit was founded by my brother Matt and I in 2011. Owner/Operators of an independent film company we built the first version of Rhovit to better the distribution model for films, series, games, music, comics, and books.

Built for commercial content, the platform instead gained an independent following by creators looking for a way to better monetize their content. Realizing what the problems were and the difficulties with getting viewers to pay for indie content, we set the platform aside until we could figure out how to truly solve the problems for indie creators.

Around 2016 we started to learn more about blockchain and token economies and realized we could create an entirely new economic system that did two main things:

Got viewers to pay for indie content
Created a freemium model for viewers to do so

We released an Alpha Version of the new Rhovit platform in 2018 and used feedback to built out the Beta Version, which is currently live.

We’ve gathered a talented core team and a distinguished group of Advisors who are former executives from HBO, Disney, Warner Bros, Universal Music Group and iHeart Radio to aid us in bringing the Rhovit platform to the masses.