If you don’t already know what Vibe Coin is, you might count yourself lucky. It means that you successfully dodged one of the most notorious bullets of the cryptocurrency craze of 2017, the year of thousand ICOs (initial coin offerings). The year of thousand ICOs introduced many new cryptocurrency projects to the public, each of them presented as on its way to the moon in terms of value, though most ended up crashing in an ocean of tears, as regretful buyers realized too late they would never get the promised value out of their once precious tokens.
In many ways, cryptocurrencies are developing technology and there are many attempts to develop a product of value in this ecosystem. Some of these attempts are well-meaning, while some are best defined as Ponzi schemes, but most, unfortunately, end up in failure. Vibe Coin can be considered as one such example of a failed coin though the project isn’t actually dead. Vibe Coin initially launched into the market as a VR technology, though it has rebranded itself as an NFT market in the last years following the NFT craze.
In this guide, we will cover the history of Vibe Coin and explain its price movements, its promises, and its uses. By the end of it, you’ll be clear on exactly what Vibe Coin is.
The Success of Bitcoin and the Rise of ICOs
The successes of Bitcoin (BTC) and Ethereum (ETH) led to a boom across the cryptocurrency markets in 2017, propelling creators and investors alike to join the crypto economy. This resulted in an incredible number of initial coin offerings or ICOs. Initial coin offerings promised people (who thought they missed the Bitcoin train) the chance to be the early investors in a crypto project to make the best profits.
ICOs raised billions of dollars from investors between 2017 and 2018, but most of these projects only had whitepapers and no working product. Even though many lacked a reasonable business plan or a suitable developer team, aggressive social media marketing worked its magic: each new coin was speculated to become the next big thing, even though it wasn’t clear how the promised project would be implemented. In many ways, the FOMO mentality took over rational discussion and risk assessment, causing the ICO bubble to grow larger and larger until it reached billions in value. Then the bubble burst.
Many tokens tanked by 90% at the end of 2018. Some investors had seen the burst coming and sold their coins when the prices peaked but most crypto hopefuls held their tokens and had to bear the losses.
What Is Vibe Coin?
Vibe Coin was first announced on the bitcointalk forum in July 2017, as a blockchain-based VR initiative for gaming and entertainment. VibeHub, the company behind Vibe Coin, promoted itself as a virtual augmented reality platform. The platform would allow users to attend live concerts, meet with loved ones across the world through VR, and take lessons from artists and athletes while also offering market services, as the Ethereum blockchain does.
Basically, VibeHub promised to merge blockchain technology with VR technology. As both technologies seemed like the future, VibeHub gained a lot of popularity after its initial announcement. While some questioned why blockchain technology would be used for a VR platform, the reactions to VibeHub were mostly positive.
VibeHub drew a lot of attention on social media and Vibe Coin had a successful ICO in 2017. At the end of 2017, Vibe Coin got listed in several cryptocurrency exchanges, including Binance.
Vibe Price History
Vibe Coin generated a lot of interest due to aggressive PR which included rumors of a Superbowl commercial appearance thanks to a partnership between VibeHub and the technology company Monster. Vibe prices peaked a few weeks after its official listing and reached an all-time high before the rumored Superbowl commercial appearance. Right before the commercial, VibeHub’s Twitter account clarified rumors and explained that founder Alessio Mack would appear in the commercial wearing a hat with the VibeHub logo. However, the commercial didn’t feature VibeHub and Monster released an apology on its Twitter account, indicating VibeHub’s founder had been cut out of the scene.
After the failed commercial appearance, the approaching bear market, and the lack of any developments from the VibeHub team, Vibe Coin steadily lost its value.
VibeHub Games and NFT
VibeHub drew ire from social media users for using open source material, such as VR material to showcase its products. Critics point out that displaying open source content mislead the public into thinking VibeHub offered more potential than it had.
VibeHub launched an FPS game in 2019 called Vibe or Die. Vibe or Die doesn’t use VR technology nor is it developed by VibeHub entirely. Instead, it seems to be a Unity 3D’s sample fps game VibeHub employed with token economics. That means you can gain or lose tokens based on your kills in the game. The game isn’t for VR and is PC playable. In other words, VibeHub project hasn’t developed a blockchain-based VR system as they promised to their investors: the game is monetized version of a freely available product.
So what is the end game for VibeHub, if the developers aren’t following through with their original vision of happily uniting blockchain technology with VR-based entertainment? Like most cryptocurrency projects that failed to deliver on their initial promises, VibeHub turned to what seems to have become an easier and more profitable market: NFTs. VibeHub has plans for an NFT market and an NFT auction house.
Vibe Coin According to CoinmarketCap
According to CoinmarketCap, the total supply, max supply, and circulating supply of Vibe Coin in 2021 was 267,000,000. In the same year, Vibe Coin had a market cap of 5,085,677 USD. You can check Vibe Coin’s trading volume and price chart on CoinMarketcap.
How to Buy Vibe Cryptocurrency
Vibe Coin has been delisted from crypto exchanges like Binance but can be found at Uniswap and HitBTC. Liquidity may change depending on the crypto exchange. The price of Vibe Coin can increase or fall depending on industry news but also on Vibe Coin’s appearance on popular blogs as old cryptocurrencies are recycled as “trending coins of the week”.
A Few Words Before You Go…
Vibe Coin emerged as a virtual reality project but the VibeHub team seems to have reoriented their goals to developing a vibe ecosystem, including a Vibe NFT marketplace and auction platform. You can learn more about these projects at vibehub.io. While we don’t give financial advice, we advise you to tread carefully when it comes to revived cryptocurrency projects like Vibe, which fail to fulfill its original promises to investors.
Of course, crypto is an exciting new frontier and you never know what is coming up next, so keep your eyes open!