Vevue Partners with CBX Exchange for Initial Auction Offering
14 Oct, 2019, 15:00 BST
Social Media Platform is Selling an Initial 5 Million Security Tokens
TAMPA, Florida, Oct. 14, 2019 /PRNewswire/ -- Vevue Media, Inc. ("Vevue"), a Wyoming corporation operating a rewards-based next-gen social media app, announces a partnership with CBX, a crypto exchange based out of UAE, to launch the sale of its VUE Token -- an Ethereum-based security token, each being a share of non-voting preferred stock of Vevue, entitled to a portion of gross revenues collected by Vevue. For qualified investors, this is an unparalleled opportunity to earn first-dollar gross revenues from the Vevue ecosystem.
Vevue's social media app allows creators to own and monetize their video content through a revolutionary crypto to dollar business model. Traditional social media platforms severely limit payments to users for their content, which, while providing shareholder value, does nothing for the content creators. Driven by data showing that rewards for action are key to the future of social engagement for Gen-Z audiences, Vevue gives users the opportunity to directly earn money from their content while still providing financial returns for investors through the VUE token.
The initial auction offering (IAO) will begin on October 28, 2019, at 4 PM PST and close within 48 hours of auction open. From the 100 million total cap of VUE tokens, of which 35 million are reserved for investors, 5 million will be available for sale in the initial auction. Vevue and CBX plan to have a monthly auction going forward. Interested investors can participate in the Dutch-style auction, where the price of the offering is set after taking in all bids to determine the highest price at which the total offering can be sold. Investors place a bid for the amount they are willing to buy in terms of quantity and price. The higher bids are accepted starting from the top until the 5 million VUE tokens are allocated.
CBX is a digital exchange built by financial experts and is considered as one of the largest Middle East crypto exchanges with a global presence and reach. CBX has adopted the highest standard of AML/KYC with quick approval turnaround time and is compliant with all international rules and regulations. The Vevue VUE token IAO is the second to launch on the CBX exchange, following the success of the first IAO with GoJoy, an Alibaba competitor, which raised over $10 million in their genesis auction.
Vevue's revolutionary business model delves into new territory for cryptocurrency in social media. Built on a first of its kind token ecosystem, Vevue app users interact using the native Vpay token and cash in and out of the system using the USDC stablecoin. It is an ecosystem designed to monetize all forms of engagement and create a meaningful opportunity for users to earn money.
Unlike other social media platforms, Vevue only collects a 5% transaction fee, so users can earn more and feel rewarded for their creative efforts. The transaction fee from on-platform engagement enters a dividend pool, and the gross revenue will be distributed daily to VUE token holders. The VUE token IAO is an exclusive offer to non-US investors only, and only in accordance with all applicable law. For more information visit - Cbx.one or email investor.relations@vevue.com
About Vevue:
Vevue is a rewards-based social media app, powered by the blockchain, empowering the next generation of media makers to honor their creative craft and make a difference in the world through powerful visual content. The multi token-based economic model allows anyone, anywhere to view, earn, participate, and feel rewarded. With over 60+ years of combined entrepreneurial and multi-industry (Fortune 100/entertainment) experience, Vevue's pioneering global team is committed to building a future where creatives can thrive.
About CBX:
CBX is a digital asset trading platform dedicated to providing users with safe and professional digital currency trading services. The company has independent operating teams in the UAE, Hong Kong, and London. The two founders Meng Chan Shu and Steve Shi have more than 20 years and 10 years respectively in the financial and commodities markets. They lead the team and provide the cryptocurrency industry with traditional financial soundness and prudence. At CBX, the mission is to deliver the fastest and most secure trading platform and wallet system to users.
To learn more about Vevue visit Vevue.com
THE VUE TOKEN HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, OR APPROVED OR DISAPPROVED BY THE U.S. SECURITIES AND EXCHANGE COMMISSION, ANY STATE SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY, NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED UPON OR ENDORSED THE MERITS OF THIS OFFERING OR THE ACCURACY OR ADEQUACY OF THIS MEMORANDUM. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.
THIS PRESS RELEASE IS NOT AN OFFER TO SELL OR SOLICITATION OF AN OFFER TO BUY SECURITIES. QUALIFIED INVESTORS RESIDING IN JURISDICTIONS IN WHICH THE PURCHASE OF VUE TOKENS IS LAWFUL MAY OBTAIN INFORMATION IN THE MANNER STATED HEREIN.
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Vevue Media, Inc.
Vevue.com
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