How Can Blockchain Accelerate the Virtual Reality Revolution?
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Virtual reality and augmented reality technologies today are at the forefront of the high-tech revolution. Technology that less than a decade ago looked like pure science fiction, is quite mundane nowadays. Virtual reality is widely used in all spheres of life, from entertainment and education to real estate and travel industries. This growth is reflected in the market value as well: in 2019 the global market value of virtual reality was less than $15 billion, but if the dynamics will remain as it is now, by 2024 it will reach $70 billion. Judging by the recent events in the world, the virtual reality market will grow even faster.
The general turmoil, caused by COVID-19 and quarantines, turned out to be quite a boon for the virtual reality Industry. After all, people still want new experiences and virtual reality gives them just that; users can visit various places in our world and even explore new worlds without any risks and maintaining social distance.
But virtual reality is not the only industry that bloomed recently. The other popular player is blockchain technologies and cryptocurrencies. Since the crypto market collapse of 2018, the industry has recovered and now it is stronger than ever. Naturally, people started to explore how to combine blockchain and what virtual reality brings to the table. It turned out that these novel technologies pair quite well.
First, it allows the decentralization of virtual reality content without sacrificing its protection. Basically, by using blockchain it becomes possible to create a full-fledged virtual world, filled by its users’ creations and working on the rules created by its users, without intervention from the platform’s developers. It allows users to create a world that truly lives on its own and allows users to experience it without any risks.
Second, despite decentralization, copyright protection will still be in place due to blockchain; if one will be able to steal the credit from someone else’s creative work, it is recorded in a blockchain. Copyright protection may be freed from the bureaucracy that plagues it now, and an efficient protection system allows virtual reality platforms to become pieces of a united ecosystem.
Third, merging with the profitable cryptocurrency market makes virtual reality popularization much easier. If people realize that they can not only spend their free time in a virtual world but also make decent money out of it, the interest will increase dramatically.
An innovative platform that combines virtual reality and blockchain
A nice example of a project that leans heavily into all the advantages provided by blockchain and virtual reality symbiosis is Victoria VR. It is a blockchain-based ecosystem that unites multiple virtual reality platforms and creates a whole world filled with user created photorealistic content, recorded in the blockchain. Therefore, Victoria VR users can work, visit tourist destinations, participate in meetings, enjoy concerts and play games without any risks or need to travel.
Victoria VR also allows its users to make money in the real world by trading and running businesses in the virtual one.
The icing on the cake is the ability to earn a passive income of up to 20 per cent annually via staking VR: the Victoria VR token. Users only have to hold VR on their DEXFIN Exchange accounts to become eligible for staking.
By the way, DEXFIN exchange is quite an interesting platform in itself. The crypto platform removes the need for specialized services for every aspect of the crypto market. It offers cryptocurrency trading, staking of various tokens, access to crowdfunding campaigns and tokenized assets – all in one place. And DEXFIN Exchange also offers its users a proprietary DXF token that both provides a lot of benefits in trading and allows earning passive income via staking.
Victoria VR paves the way for a new generation of joint blockchain and virtual reality projects that provide their users both with all the benefits and freedoms of virtual reality and with real benefits in the physical world. The cooperation with DEXFIN Exchange ensures that this revolutionary project will get enough interest and financial resources to take off and accelerate the Virtual Reality Revolution dramatically.