VERI is and never will be a tokenized asset trading platform like LAToken. Or at least I have yet to hear any such plans to build such a platform.
The only thing that will make VERI increase in price is use of the VEADIR (and any licensed derivatives, like for the african/jamaican exchanges) which will consume the VERI token. With the VEADIR fee at 5%, if someone wants a $1M exposure, they have to use 625 VERI (at $80/each). Our real hope is that big money starts using VEADIR and that the 5% fees start to really consume the token. Of course the big money is going to probably buy their VERI direct from Reggie.
The VEADIR is similar to the projects you mentioned but it has it's not exactly the same. They will compete on some levels. For one, and probably the biggest standout is the quantity and quality of research used to determine the composition of the VEADIR, and the fact that I'm pretty sure the VEADIR might venture beyond the crypto world to include other veritized assets whereas the others are crypto-only (could be wrong about this). It could be that some day someone publishes performance comparison of these companies, and we'll have to see if VEADIR outperforms them.
I think the other big advantage is that the VEADIR assets and transactions are all on the blockchain and verifiable; whereas with the competitors you own the tokens which represent a piece of a fund but you may have to trust someone that the assets are really there as they report.
LAToken, disappointingly, is not an asset tokenization platform.
Increased usage of the VeADIR will not increase the price, in my very sincere and honest opinion, because no token will be consumed from any usage. Please remember that VERI token is recyclable and resellable, and thus cannot be consumed. And the total supply ultimately determines the potential increase in price, which is explained in these cases below...:
Case #1: If VERI cannot be used as currency itself to trade tokenized-AND-redeemable assets and ask for delivery, then the price would be as good as dead (honestly). Benefits do not flow to the Veritaseum as a token but to the Veritaseum as a company.
Case #2: If VERI can be used as currency itself to trade tokenized-AND-redeemable assets and ask for delivery, then the price would be as good as all the assets in the world that can be tokenized by Veritaseum and the price increase potential would overwhelm the total supply limitation. Benefits can flow equally to both Veritaseum as a token and Veritaseum as a company.
Of course the competitors are not exactly the same, which is what I said. Quality and quantity of research do not matter. Others have yet to issue research reports but there is nothing to stop anyone other than Reggie & team to do the same. There is no barrier to entry. Differences from performance comparison would be marginal and insignificant to justify any bombastic price increase in VERI. In other words, I don't believe others can perform worse, otherwise you go check out their performance yourself.
It is only with VeADIR that I need to own the token to use the fund. With the others competitors, I do not know of any requirement to own any token to use their funds other than as record keeping to keep track of who owns how many for purpose of profit distribution. They are all verifiable too. And audited too. So in case of the requirement for trust, this only happens with using the VERI token to use a service that is provided by a private entity.
Update:
If Reggie is truly a stupid person, as I rightly pointed out in the past, then VERI will not be used as a currency to trade tokenized assets in VeADIR.
In which case, the value and use case of the VERI token would be as close to become unneeded, another word for saying it is worthless. Worthless is not because VeADIR users need to pay 5% fee with VERI to be able to use the platform. No. Instead, worthless is because all the VERI sold and unsold, used and unused, will be
recyclable and resellable (not to mention highly divisible) so much so that it makes zero difference whether the total supply is just 1 unit or 100 million units to the end users.
If price is super cheap, I would just buy 100 million of the tokens to pay for 5% fee.
If price is super expensive, I would just buy 0.00000001 of 1 token to pay for 5% fee.
Do you understand?
Will the supply be enough if another user wants another 100 million tokens? Of course!
Reggie would just recycle my used token back into the system and resell it to the next user/buyer, duhhhhh...!
Which is why Reggie said the token is a gift card (but better than gift card because it is "printed" only once with unlimited re-issuance).
And those of you who keep supporting the project like it is some investment that will change your life to early retirement has been mislead by all the hype and misunderstanding.
And Reggie was right. This is
NOT an investment. This is
NOT a security.
You being a fanboy are better off owning a boatload of ETH than a boatload of VERI.
At least with a boatload of ETH, you have the freedom to subscribe to other competing services too, like ICONOMI, Crypto20, Hedge, etc etc.
Update #2:
If there is anything you should understand in this whole thing, is how being
RECYCLABLE and
RESELLABLE to infinity will affect the final price.
Absolutely nothing in this world has such economic characteristics as VERI token in being recyclable and resellable to infinity.
If you want to talk about Reggie being revolutionary, then you are being very unscientific and very impractical.
Update #3:
Maybe some jackass will then say, "Oh, I am not an investor. I am just a user."
Well, good for you. How many ETH do you have in your portfolio? Make sure you do not own more than 5% of that amount in VERI.
And make sure that is valid assumption only if you plan to use 100% of all your ETH into the VeADIR platform.
Otherwise, if you plan to use half of your total ETH for VeADIR and the other half for something else (savings, other investment, etc), then make sure you do not own more than 2.5% of that amount in VERI.
