- 1 What is VirtualStaX
- 2 How does VirtualStaX monetize talent and dreams?
- 3 What is TurnCoin
- 4 An elite line-up of ambassadors
- 5 Unique concept, unique execution
- 6 The journey and the road ahead
- 7 Giving back
What is VirtualStaX
VirtualStaX can be best described as digital trading cards issued by talented people from various industries through TheXchange, the first-ever global exchange for talent. It targets people from all passions of life including artists, actors, celebrities, musicians, business people, athletes, and Esports stars.
The heart of the company can be summed up in its mission statement, BELIEVE: Giving people a platform to believe in themselves to power their future and allow those who believe in them to share in their success and participate in their journey.
VirtualStaX has a user-friendly mobile app, called the StaX App, which is slated for release in early 2022.
Here is a wrap-up of the interview we did with Rudolf Markgraaff, the CEO and founder of VirtualStaX.
How does VirtualStaX monetize talent and dreams?
VirtualStaX employs a business model that enables passionate people from around the globe to monetize their popularity and fund their dreams. Whether a rising star or a superstar, everyone can issue VirtualStaX to create an awesome digital experience for their fans. Each issuer will receive 100,000 StaX that can be bought, collected and traded by family, friends, and fans on the StaXapp. Issuers receive 90% of their initial StaX sale and 1% on all future trades. They can use those funds to further their careers or achieve their dreams, while supporters can benefit as the popularity of the issuer increases. Issuers also have the ability to offer exciting utility for their supporters and in doing so, increase the desirability of their StaX.
VirtualStaX monetizes talent, popularity, name, image, and likeness. Since these parameters are not quantifiable, how is the price of VirtualStaX determined?
Rudolf explains, “the price of VirtualStaX is solely determined by a simple supply and demand algorithm built into the platform called the GPX(Global Performance Index). The more the issuers (talented people) engage with their friends, family and fans, cast their vision and the better they perform, the more the demand for their StaX, and thus higher the price. Very simple”.
TheXchange is not the first project under the helm of Rudolf Markgraaff. He was also the brain behind Hotel.com, HospitalSupplies.com, and Internet Commerce Innovations, to name a few. It comes as a pleasant surprise that a video of a 6-year-old girl sparked the idea of VirtualStaX. It was late 2017 and this video was all over the internet. The little girl was playing against 10-year-old boys, and she was beating them at it.
“I thought to myself — how does she get from South America to where she wants to be in Milan? Then I saw that her videos had 3.4 million views, which I like to call her social media net worth.”
Rudolf decided to take those 3.4 million views and monetize her dream, allow her to fund her career, and get her where she can be. That was how TheXchange, VirtualStaX, and TurnCoin were born.
What is TurnCoin
TurnCoin is the digital security that funds the VirtualStaX platform globally. Every time VirtualStaX is sold anywhere in the world, 90% of that income goes to the issuer and 10% to TurnCoin. 100% of TurnCoins revenue is paid out to TurnCoin holders through a monthly yield via smart contracts.
An elite line-up of ambassadors
VirtualStaX is supported by football powerhouses Drew Brees and Patrick Mahomes, pop singer Randy Jackson, and Rugby star Jean de Villiers among others.
“It is an honor to have them as ambassadors, because we feel they really represent the heart of the company, well, which is to uplift others. As for new ambassadors, we are currently in the process of onboarding more that the world will know, but you will have to wait for that.”
Unique concept, unique execution
Although at first glance, the underlying concept of TheXchange may seem similar to platforms like Sorare and Socios that too monetize fandom leveraging blockchain technology, that is not the case. VirtualStaX is the only platform in the world that allows any talented person in any passion of life to issue digital collectible cards in themselves and share them with friends, family, and supporters around the world. While other platforms seek popular teams and individuals, VirtualStaX empowers emerging talents as well. The platform is open to everyone who is confident in their skills and talent.
“Anyone from any passion of life can easily go and list themselves and make their dreams a reality with VirtualStaX,” says Rudolf. And, the StaX goes on an exchange where its value is determined according to the GPX (Global Performance Index).
The journey and the road ahead
It all started with the idea to create a sports app to help talented athletes around the world fund their careers. The team was gearing up for the release of StaX App for sports in 2020, however, the pandemic soon took over the world and the project was shelved for the time being.
“But that helped us think outside of the box and to think of all the talented people in the world, not just in sports. We started with SportStaX, but when Covid hit, we pivoted to every passion of life. The StaXapp is now ready to be launched and it will go live in early 2022 globally.”
The long-term vision of the project is to create the most powerful decentralized exchange, driven by people and their passions. A platform to level the playing field for any talented person in the world to showcase their talent.
The heart of TheXchange is built on the concept of giving. It gives talented people a platform to fund their dreams, fans an opportunity to nurture talent, and StaX issuers the choice to contribute a percentage of their StaX profit to charity.
“We believe in being transparent with these donations, so we will use blockchain technology to ensure transparency of where these funds are spent.”
VirtualStaX has partnered with the Heart of Compassion Foundation (an organization that stands for food, water, health, and human rights), Chen Foundation (dedicated to widows and orphans), and the Heart of Sports Foundation to make a wider impact using the platform.
To learn more about TheXchange and VirtualStaX, visit:
Disclosure: This is a sponsored press release. Always do your research before buying any cryptocurrency.
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