Recently, NEM has made an announcement on Twitter about the availability of its platform-based token- RHOVIT. As per the announcement, the users can do so many exciting things with the newly launched token. For instance, the user can watch the latest trailer of movies, can check out gameplay, creators, and so on. There is also a chance for the user to get exciting rewards.
— NEM (@NEMofficial) May 20, 2019
The token RHOVIT is an open beta version as per the company’s official blog. Currently, it is created with an aim to do the testing. In the blog, you can find a good detail on exactly how this token can be used.
How to start?
To start with you need to register on the platform to open a new account. Please note that no matter if you have already signed up for the MVP and also have claimed Rbit tokens on the platform, you still have to register freshly for a new account. Please check the official blog to get a step by step guidance on how to open a new account.
Once a user has registered oneself, the company send 50 Points into his or her account to spend on the platform. These points are the virtual currency (and are not cryptocurrency), which is used to unlock the online content.
Unlock Button, Points, Loot
Whichever content you choose to view or indulge in, such as watching a video, to watch it post the initial 20 second time bracket, the user would need to click on “UNLOCK” button to continue watching it. By clicking on this button, the POINTS get deducted from the user’s account.
At every unlock click, the user earns LOOT. The sign of the LOOT is of a “lightening bolt.” A culmination of 20 LOOT gives the user 1 Rbit token.
The unlocked content is available to the user in different ways. The unlocked video becomes available to the user for 24 hours for multiple watching, whereas the unlocked article is made available to the user on a forever basis.
Every point you spend on watching any content goes to the creators for getting exchanged with USD. Points are distributed on every Saturday. The user can check the details of his or her points by clicking on the ‘points’ button. If you wish to buy more points, you can do so with the help of a credit card.
Earning Rbit or Loot-
Rbit token is created on the NEM Mosaic token. In order to claim Rbits, the minimum requirement is to have 20 Rbits. You can also transfer Rbits to your NEM Nano Wallet by adding it to the platform. Rbits can be earned through gathering LOOT as we discussed above. Another way to earn Rbit is by watching Promos. The platform offers two opportunities for users to earn Rbit daily.
As of now, the Rbit is not present on any exchange and therefore is not available for any sale. The company may soon launch it once the testing phase is completed with gaining an active user-base. This token can currently be spent on RHOVIT.