Brief review of 2020

Safe to assume a lot of you are keen to say goodbye to 2020. Undoubtedly, for us here at VETRI, nothing could be truer when it comes to describing our sentiment.

COVID aside, 2020 started off fairly well, mind you. Enthused by the acquisition of a key and powerful strategic partner, Lucid, the world’s leader in “insight technology”, our path to success seemed rather linear and unencumbered. Of course, ever since Procivis bequeathed the Foundation with the reigns of VETRI (along with the IP, its exploitation, as well as a capital reserve in the form of tokens) we also understood the implications of inheriting a code and algorithms, developed by third parties, that had consumed considerable resources over many months. Or so we thought…

From March to September, an eternity in our sector of activity, our developers, tirelessly at first, then more and more desperately, tried to “make it all work”: to integrate what was passed on with the development needs and features demanded by Lucid’s operating platform.

But it wasn’t to be. The code we had inherited was built on generations-old software and couldn’t be salvaged, or even built on, without us encountering insurmountable problems down the line. Bugs basically. And of biblical proportions, it turned out.

By then, it dawned on us that our only option was to start over and to rebuild the code entirely. Both front and back ends. We had hit a very low point and that dawn was most definitely sunless. We had wasted half a year and by September, 6 months after we had begun work on the Lucid integration, nothing was working!

The last 4 weeks

November 23rd marks the day of our first working app release. This time, based entirely on newly written code and this time, using the latest available tools and software. Under its current form and given the history, we might as well call it “VETRI 1.0”. It showcases our very first use case, VETRI as “Best Paying Survey Aggregator” but one we absolutely want to get right – technically and commercially – before we consider moving on to the next use case.

As it stands, we finally have a robust and competitive product. Over the coming weeks, you can expect lots of new features and offering enhancements, such as:

  • The integration of CINT’s survey offering – CINT is number 2 in the global “insight technology” market, and after Lucid, but the clear and established leader in Europe (DACH included)
  • PayPal integration
  • In-app messaging
  • Enhanced earnings/rewards opportunities for users
  • Maintenance and bug fixes

Marketing efforts and investments are to follow soon after this next release, which we expect to take place as early as the middle of next month.

We promised you some quantitative data. “A picture is worth a thousand words”, as the saying goes. And so, as our concluding message and so you can judge our progress for yourself, please see below some relevant graphics straight out of Google analytics (pretty much!). As for some hard numbers, when we were distributing 5$ a day previous to our latest release, we are now above 100$ a day with previous peaks at about 300$, and growing.

(please note the below numbers reflect organic growth, as hardly any marketing initiatives / spent were undertaken during the period):