Ven is Social Currency

< Previous | Main | Next >

16th Sep 2009

Article Image
Ven is a virtual currency used by members of Hub Culture to buy, share and trade knowledge, goods and services with anyone in the network and can be spent at any Hub Culture Pavilion

The currency is currently linked to the U.S. dollar at a rate of 10 Ven to the dollar and trades against other major currencies at floating exchange rates. 

Ven first appeared as an application in Facebook on 4 July, 2007. In late 2008, it became tradeable to anyone with an email address, making it the first global digital currency to move from an online social network into the real world.

The Ven Prize 


The Ven Prize is an award toward sustainable,  circular, cellular economic systems in Hub Culture and the world at large. 

The Prize was launched October 1, 2009 at the Hub Culture Los Angeles Pavilion at the Governor's Global Climate Summit . The first award will be presented in December 2009 at the Hub Culture Copenhagen Pavilion at COP15.  

The Prize began with a V100,000 base and is growing. The current value of the Prize is: V102,680

Criterion for Selection: 

The Ven Prize is open to Hub Culture members creating projects that help lead Hub Culture and the world at large toward a sustainable, circular, cellular economic system:   Sustainable.  Circular.  Cellular.


Deadlines: 

The deadline for application submissions is December 7, 2009.



Judging Panel: 

A minimum of 7 leaders in sustainability will judge applicant projects toward the Ven Prize, they will be announced in November 2009.

Application Components: 

Applicants to the Ven Prize must submit their application in the form of a Hub Culture group consisting of the following components:

Team Members 
Any members of the Group providing the application are considered to be team members, as such, they must be Hub Culture members.

Application Fee
An application fee of V800 is required to submit an application to the prize.  Of this, V500 goes directly to the prize bank.  As such, every applicant to the Ven Prize raises the total pool of awardable Ven. 


Application Materials
Consist of 3 components:  
a.  a web video presentation no longer than 3 minutes uploaded to youtube or vimeo.
b. an executive summary with project outline and use of funds no longer than 5 pages
c. solid evidence of collaborative progress on the Project using the Hub Culture group tools.