We asked ourselves: Why do VR and gaming companies use a walled garden business model, when they can derive far more value from growing an open network, leveraging network effects via Metcalfe’s Law? We decided we didn’t care, but we would build our company on their short sightedness.

Sales start in

Our story

We all want to take control of our virtual identities online. We don’t want to be spied on, see our property stolen or seized, or our identities snuffed out without due process, and we want to be able to talk to who we want to, wherever they are. In short, we want our rights back. Advances in technology, like Virtual Reality, do not negate our natural rights

Roadmap

2014

Galactic Systems is incorporated in Delaware

2015

Develops Galacticoin v0.1. Works on new galaxy sized virtual reality environment.

2016

Realized we can’t compete against billions in funding with large corps creating walled garden VR platforms. Took a year to study the market

2017

Developed GridFone prototype in OpenSim and Second Life, designed to tear down walled gardens. Developed business plan and began angel fundraising. Graduated from Apex Accelerator program at PSU. Raised $150,000

2018 Feb

Starts ICO, Gridfone Beta prototype goes live.

2018 March

Token sales end. GridFone expands into High Fidelity, Unity3d, Unreal, Minecraft and VRchat/Steam. Galacticoin 1.0 goes live as cryptocurrency.

2018 August

Gridfone completes expansion globally into all major VR/AR/MR platforms, uses viral model to expand reach within each platform. Galacticoin starts implementing smart contracts capabilities.

Market Calculation

VR world keep growing rapidly

Platform Userbase Monthly Active GDP/user GDP/active user Gross Market Value~2016
Second Life 47 million 600,000 $0.01 $8.00 $500 million
OpenSim 480,000 31,000 $2.05 $35.00 $1 million
High Fidelity None None 0 0 0
Unity3d 770 million 57 million $1.49 $21.9 $1.15 billion

We see that projections are doubling adoption annually based on the past few years data to expect 171 million users by the end of 2018, which means 1.4 billion users by 2021 and the asymptote starts hitting an S curve return to more normal trending thereafter to effectively full market penetration globally by 2025.
Based on the reach and daily users for well known messaging apps, we see a market potential across the VR/AR/MR/Gaming markets of no less than 50 million users when fully deployed on available platforms by mid 2018, with a growth potential reaching as much as a billion users by 2025 as VR and AR applications grow exponentially. Current markets we will enter initially are Second Life and OpenSim, with High Fidelity and Unity3d, Unreal, and Minecraft to follow. The sizes of these markets are as follows:

Once we have proven our business model in the SL and OS markets, we will expand into the High Fidelity, Unity3d, Android and Unreal markets where we foresee our true growth to occur into the global market leader of metaverse A2A communications as the creator and dominator of this market.
We expect to see the largest growth in our company to occur in this global expansion into these other VR platforms where the vast majority of the spending on VR occurs

Founder, CEO

Mike Lorrey

CFO

Patrick Devereaux

Director of Marketing

Sam Eaton

Company Counsel/ Smart Contracts Lead Author

Stephen T Davies

Advisor

David Drake

Advisor

Katie Ananina

Advisor

Bradley Rotter

Advisor

Juan S Galt

Advisor

Lori Corpuz

FAQ

Token distribution
Token distribution starts February 3 and ends March 18.

How can I contribute?
We allow contribution in ETH, DASH, LTC for utility token. ETH for equity.
Don’t use exchanges to send your crypto unless they accept ERC20 tokens in your ETH wallet. We suggest to use MyEtherWallet or other ERC20 wallets. Whichever ETH wallet you use to send ETH will be the wallet that receives your equity tokens in GSI.

Can US residents contribute?
We offer both the Galacticoin utility and Galactic Systems equity token. Only non-US persons, and US residents who are accredited investors can purchase equity token. Non-accredited US residents are allowed to purchase the utility token. These rules are required by SEC Regulation D, Section 506. It is the investors personal responsibility and legal liability to honestly declare their status as a US or non-US person, and as an accredited/sophisticated investor or not such an investor. Those purchasing the utility tokens at the crowdsale are not considered “investors” under the law based on the Howey Test.

What is difference between utility and equity?

Equity tokens are smart contracts representing ownership in Galactic Systems, Inc, a Delaware corporation. Under SEC Regulation D, Section 506, all participants in such capital raises must, if they are US persons (i.e. US citizens, nationals, or legal resident aliens) be accredited investors (an accredited investor must either earn over $250,000 US per year or have a net worth of over $2 million), or if they are not US persons there is no such requirement for accreditation.

What will happen with unsold tokens?

Unsold equity tokens are returned to Galactic Systems Inc general ownership by the company and will be used for employee stock purchase plans in the future.Unsold Galacticoin utility tokens will become a float reserve held by the Galacticoin exchange (GCX) which will enable users to exchange Galacticoins for other virtual currencies, cryptocurrencies, or fiat.

What Exchanges are you listed on or will be listed on?
We are not allowed to comment on exchanges and dates.

When will prototype be ready?
Prototype GridFone will be in public beta in Second Life and OpenSim on Feb 1st along with Galacticoin blockchain utility token going live on March 14th. Full implementation of the Galacticoin blockchains smart contracts capabilities will occur on or around the end of August 2018.

When will product be ready?
Full functionality of the block-chain will take approximately 6 months post-ICO to complete development of all currently planned features. During this period we will be expanding GridFone market reach into other VR/AR/MR/Game/Virtual World platforms to encompass half of the world VR/Gaming market by end of 2018 using our viral marketing model to expand within each platforms virtual economy.