The launch of a virtual reality blockchain has been announced by media firm Live Planet. Known as the Blockchain Virtual Reality (VR) Network, it will be the very first project of this type to get off the ground. We looked a few months ago at the ConcertVR ICO that uses similar technology but for different reasons.
This network combines two of the most important, disruptive technologies of our times in VR and the blockchain. By doing this, the team hope to allow their content partners to present podcasts and other types of media in the most immersive way possible.
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What Do We Know About It?
According to a press release, this new network has been created using VideoCoin technology. It is a blockchain platform for media use that the company has been working on for some time.
By using this network, content creators can apply a 360 stereoscopic video service when recording or streaming. The team behind it have stated that it will be capable of streaming to YouTube and Oculus, as well as a number of other VR platforms.
Who Else Is Involved with It?
Live Planet confirmed in their press release that they are working with a diverse group of partners. These include some influential podcasts and blockchain experts. It is believed that these partners will reach a big global audience.
They have calculated that the new technology will be used by up to half a million blockchain enthusiasts. Other content producers who don’t make blockchain or crypto videos can still use this virtual reality blockchain platform to reach higher levels of audience engagement.
Among the names mentioned as partners are Decentralized Films, Bad Crypto Podcast and BLOCKTV. Joel Comm is a co-host on the Bad Crypto Podcast. He said that this is an “opportunity to revolutionize how listeners learn about blockchain”.
Is There an ICO or Tokens?
The VideoCoin ICO started out in early 2019. At the time of writing, their roadmap shows “Release TBD” for their token distribution event. They originally expected that the altcoins for this network would be generated in May, 2019.
Their White Paper confirms how the technology will work. According to the ICO site, over 105 million tokens were sold in the pre-sale phase. The lifetime token supply is listed as being 265 million. The first year supply is limited to 125 million tokens.
Virtual Reality Blockchain Summary
There are clear signs that this virtual reality blockchain network is ready to take off. It seems that there have been some delays with the ICO. This is possibly due to the revisions made to their token economy. However, their impressive list of partners suggests that this could still be a success.