How Far Can VR/AR and Blockchain Go? VR/AR and Blockchain Combined
Recently, I’ve had an interesting experience.
Last week me and my friend went for a coffee after a hard working day. These days it’s quite impossible to be blown away by something, but trust me, that was surreal! Not coffee, obviously. Before sitting in the cafeteria and enjoying tasty cupcakes, he suggested having a virtual ride. I didn’t mind that. We approached the salon with glass doors and hanging signboard saying “360VR” and after buying tickets, sat into virtual reality chairs, put gear VR on and started the ride.
Virtual reality can really turn your world upside-down. I learned that while spinning around in a giant simulator that is not for the faint-hearted.
This made me think that there are so many ideas, solutions, startups… However, once the idea is born in your mind, you see it’s already been done by someone else. So, how to stand out? It’s almost impossible to enter the market with something new and exclusive.
The answer is in this blog.
AR/VR & Blockchain
When considering emerging technologies AR, VR and blockchain are top of mind. Being predicted to be worth billions of dollars by 2024, these three have an incredible potential and as combined, can give birth to products and services not possible before.
Let’s have a look at the solutions embracing the best of AR, VR, and blockchain.
1. Decentraland
Blockchain-based virtual reality universe Decentraland is a well known virtual social space linked to crypto coin-based transactions. With the help of the Ethereum blockchain users can purchase land, build a house or a virtual neighborhood on it, monetize it, and make money. Users can create residences for live music performances, shopping, workshops, test-driving — whatever people can experience in virtual reality.
“The ownership of items is cryptographically established on a smart contract, which prevents anyone from stealing or altering users’ property,” Ariel Meilich, Project Lead at Decentraland, explained. “Conversely, a centralized platform can very easily print more in-game currency, revoke item ownership, or even delete users.”
Simply speaking, Decentraland uses VR and blockchain smart contracts to allow us fully participate in a virtual world by becoming landowners and monetizing various worlds, selling space to advertisers or renting it in exchange for Decentraland’s cryptocurrency token, MANA.
You have two options.
You can be the next landowner if you want. Or, you can create your own VR and blockchain system that would be the new world of the next generation.
2. CEEK
Another company, called CEEK, is also working on the intersection of VR and blockchain to deliver a solution for VR events. A platform was developed mainly for performers to extend their reach and connect with thousands of fans across the world. CEEK provides a possibility to singers to host live VR versions of their concerts, enabling fans to enjoy the experience without physically attending the event.
Instead of centralized registration and payment platform, CEEK is using smart contracts and unique crypto token system, which allows token holders to make flexible “in-world” interactions, participate in virtual celebrity concerts and other events. Blockchain transactions are safe, clear and provide an enduring record of exchanges.
Katy Perry, Tony Bennett, Fall Out Boy have chosen CEEK to give a chance to their fans to experience their live concerts.
Yet, there are more artists who would like to store VR versions of their performances. Would you like to offer them your solution?
3. Cappasity
In a nutshell, Cappasity is a decentralized, community-driven ecosystem created for renting, buying or selling AR/VR and 3D content. It uses blockchain infrastructure to keep and manage 3D digital assets copyrights. Developers and 3D content creators can easily monetize and share their works within the system as well as embed them into web stores and mobile apps. The system itself has a sandbox technology allowing buyers to test out the content by deploying it there.
The ecosystem includes a content storage, a decentralized copyrights storage, CAPP Wallet, Internal Exchange, API for the third-party developers, and free utilities.
This is an awesome system for e-commerce solutions, as it makes the whole browsing experience easier in retail. Consumers from all over the world flock to the internet to make purchases and soon there is going to be a significant demand to make online retail as realistic as possible.
If you launch such a platform like Cappasity it would allow businesses to quickly and easily create and embed 3D content into their online shops. What do you think?
Is There a Place for Another Blockchain and VR solution?
VR/AR and blockchain are two industries that probably benefit the most from each other, as well as AR and AI. If you are searching for a new solution — think about VR and Blockchain. Behind these technologies, you’ll find awesome possibilities that will help you to grow your business. If you have any questions about these technologies, contact us — we would be more than happy to clarify everything for you.
