What is Olyseum (OLY) | What is Olyseum token | What is OLY token

What is Olyseum (OLY) | What is Olyseum token | What is OLY token

Olyseum is an innovative blockchain-powered social ecosystem that rewards fan engagement and collaboration, streamlining the connection between fans and stars. A paradigm shift for the world of fan engagement, Olyseum’s purpose-built rewards ecosystem enables fans to engage with entertainment leaders, sports stars, fashion icons and global trailblazers. Olyseum’s expanding roster of stars are aligned on a common mission to create opportunities for meaningful, authentic interactions with fans, and rewarding fans for their support and participation in the celebrity economy. What is Olyseum (OLY) | What is Olyseum token | What is OLY token

What is Olyseum?

Olyseum is an innovative blockchain-powered social ecosystem that rewards fan engagement and collaboration, streamlining the connection between fans and stars.

A paradigm shift for the world of fan engagement, Olyseum’s purpose-built rewards ecosystem enables fans to engage with entertainment leaders, sports stars, fashion icons and global trailblazers.

Olyseum’s expanding roster of stars are aligned on a common mission to create opportunities for meaningful, authentic interactions with fans, and rewarding fans for their support and participation in the celebrity economy.

Who are Olyseum’s founders and stars?

Olyseum was founded in 2016 by accomplished computer scientist and neuro-scientist Carlos Grenoir (CEO), and world renowned computer security consultant Kevin Mitnick (Chief Security Officer), along with former FC Barcelona players Carles Puyol, Andrés Iniesta and Iván de la Peña.

The platform was built upon a shared vision to create a more fan-centric network of engagement.

Olyseum has already brought almost 40 stars to the platform, which will be unveiled over the course of 2021, including motoGP icons, top fashion models, 5-star Michelin super-chefs, music legends and mega YouTube personalities.

What are challenges and replicas?

Olyseum’s diversified community of acclaimed global stars play a central role in our fan-centric ecosystem.

The Olyseum app plays host to a live feed of star-led challenges, in which Olyseum’s stars share original video content of themselves performing a trick, move, gesture or other unique activity that can be captured in a 10-15 second video.

This is where the fan engagement starts. Stars set the challenges and fans record their own attempts (replicas) at the challenge to earn rewards.

Olyseum facilitates gamified engagement, allowing fans to ascend the rankings via participation in the star-led challenges.

What are Olyseum experiences?

With Olyseum, fans can enjoy exclusive interactions and experiences with stars, including live chats, video calls, meet and greets, personalized memorabilia and much more!

Stars will also create original products and services, reserved for their top fans on the Olyseum platform.

What is the Experiences Marketplace and how can I pay for an experience?

The Experiences Marketplace enables fans to gain access to exclusive star-led experiences, which can be redeemed via:

  1. Medals — Olyseum’s in-app points system that rewards user engagement 
  2. Payment in OLY tokens
  3. Payment with credit card (coming soon)

Premium users will be able to receive OLY Tokens and use them to access exclusive VIP experiences on the Olyseum web  application.

Can I connect my personal social networks to Olyseum?

Absolutely! You can get started on Olyseum using an existing Facebook or Google account. This also makes it easier for you to invite friends to join, and earn rewards for doing so!

Can I invite my friends to join?

That’s the spirit! As a collaborative social app that enables direct interaction between fans and stars, we’d love to welcome your friends to our platform! This is our vision, to create an ecosystem of engagement, content generation and monetization — the more the merrier!

And because collaboration is the core principle of the Olyseum platform, you’ll be rewarded in Medals for referring your friends to join.

Medals are the in-app point system that rewards user engagement, and can be used to access a catalogue of exclusive experiences involving their favourite stars. So, why not earn more Medals by inviting your friends to join? Just click ‘invite’! The more friends you register on Olyseum, the more Medal rewards you and your friends will receive!

Where can I download the Olyseum App?

In 2020 the Olyseum mobile app was released for iOS and Android platforms. Now also available on the Apple store, the Olyseum app continues to go from strength to strength.

Download from the AppStore here:  https://apps.apple.com/us/app/olyseum/id1107654607

For Google Play, download here:  https://play.google.com/store/apps/details?id=com.olyseum.olyseum

How does the Olyseum app work?

The Olyseum mobile app is where fans can access original content from their favourite stars, take part in star-led challenges and receive rewards by replicating stars and sharing their own content online, allowing them to enjoy the exclusive experiences together. 

The main reward system is through Medals — an in-app point system that rewards user engagement, which can be earned by sharing or interacting with their favorite star’s post or by participating in star-led challenges and activities. You can also earn Medals if your video ‘replicas’ are liked or shared by other users. With Medals, fans can access a catalogue of exclusive experiences involving their favourite stars. 

Fans can derive value from time spent on the app, inviting friends to join, creating video content and sharing on social media channels, and sharing their favourite star’s posts.

Within the Olyseum app, fans will soon be able to buy exclusive experiences with a credit card. Premium users will have the opportunity to receive OLY Token giveaways.

What is Olyseum Token (OLY)?

Just like fans fuel the celebrity economy, OLY tokens fuel the Olyseum platform. OLY tokens can be used to access rewards, offers and discounts in Olyseum’s exclusive marketplace, for advertising campaigns, and can be used to access exclusive interactions and experiences with the stars themselves.

In addition to OLY tokens, fans can also earn credits in the form of OLY ‘Medals’ based on their levels of activity and engagement. These medals can be used to access exclusive experiences with Olyseum’s roster of stars.

What are the Olyseum incentive schemes?

Olyseum has established three bespoke incentive schemes to boost growth across the different sides of our community. They are as follows:

  • Early Adopters Incentive: Token holders who participated on the pre-sale will soon have the opportunity to avail of Olyseum’s comprehensive incentive program (our Early Adopters Incentive, EAI) which will be activated in due course.
  • Liquidity Providers Incentive: As outlined in our white paper, 10% of OLY Tokens are allocated to the Yield Farming program for Liquidity Mining rewards. These are specifically designed to incentivize Liquidity Providers (LPs) to increase liquidity in the pool created for the OLY:ETH pair on Uniswap. As part of the Olyseum Yield program, we anticipate distributing 500,000,000 OLY Tokens to community members who provide liquidity to the OLY:ETH pool on Uniswap and subsequently stake their LP tokens. By adding liquidity to OLY:ETH Uniswap pool, and in turn, receiving the corresponding Uniswap LP tokens to your wallet, you will be eligible to participate in the program.
  • Top Stars Incentive: This unique incentive scheme has been developed to drive acquisition levels of the Oly platform, while demonstrating the exponential growth of Olyseum’s exclusive roster of stars over time. The familiarity and credibility of Olyseum stars, coupled with their ongoing participation in the ecosystem, will help us extend the reach of OLY to new swathes of prospective users, and in tandem, encourage wider participation in the crypto sphere through our utility token.

Can I change OLY to a FIAT currency, such as USD or EUR?

Yes! The OLY Token is an ERC-20 token based on the Ethereum blockchain, which means it can be saved and traded between Ethereum (ETH) wallets, and exchanged for other cryptocurrencies or FIAT.

As we continue to grow, OLY will be more widely available across different wallets and exchanges, with more currency pairs.

Can I deposit OLY from my own wallet?

We will be adding this feature to our platform very shortly. One you’re registered, the next step will be to copy your Olyseum’s wallet address and send a transaction from your own wallet to the copied wallet address, depositing OLY in your own Olyseum wallet. Simple!

Why did Olyseum choose a token?

First and foremost: Olyseum is not a trading company, nor a crypto company. We are a social media platform that connects fans and stars, and we are also leveraging innovations in 21st Century economics.

We also have a distinguished team that has an in-depth understanding of the crypto world, and as such, we decided to harness this knowledge to broaden the reach of OLY.

In actual fact, we could have launched an internal token totally separate to external markets, but instead opted to allow users to have their own token outside the platform, in line with our principles of independence and decentralisation.

This approach also gives expression to our commitment to the longevity of the platform, by pouring significant resources into launching a legitimate public token.

How will token price fluctuations impact the business?

The OLY token has distinct capabilities within the Olyseum platform, but it will also have a life of its own in the external market. So while there may be fluctuations in the price of the OLY token, particularly at the launch and following the subsequent end of the ‘lock up’ period, it is important to note that token price fluctuations will have no bearing on the performance of the company. The business is totally de-correlated from the token, but there is a unilateral, one-sided correlation between the token and the business, ie: the token will be powered by the demand generated by the normal business. While the token has certain utilities within the company, that by no means implies that the company is impacted by fluctuations in token price. The fundamental principles of the platform are the real drivers of growth.

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