SAN DIEGO & LOS ANGELES--(BUSINESS WIRE)--VERSES, a non-profit foundation creating the universal protocols and standards for the next generation of the Web, and XYO Network, the technology bringing blockchain to the real world, today announced a partnership to power key aspects of the Spatial Web, a single, worldwide network linking people, places and things, both virtual and physical.

Working in close collaboration with XYO Network proof-of-location capabilities, blockchain-native VERSES will power the Spatial Web by securing user data and authenticating assets and locations, for a boundless new Web 3.0 that is smarter, safer, seamless and immersive. The partnership is expected to deliver a series of unique applications and benefits to consumers, enterprises and public entities alike.

“When you talk about smart factories or smart cities, and when you want to validate a position in space, a drone, an autonomous truck, cargo, or things in motion, XYO is in an amazing position with our network to act as a validator of where something is via proof of location,” said Gabriel Rene, founder and executive director, VERSES. “VERSES is the access to the single standard of the record of location, and XYO is the validation. XYO is perfectly positioned to do this at scale.”

The VERSES Spatial Web Protocol is a universal and open standard for the next generation of the Web existing in augmented reality (AR) or virtual reality (VR), connecting people, places, things, and currencies into a single digital network. VERSES also enables and manages blockchain-based property rights in augmented reality.

“Our companies are perfect partners. We feel strongly about what VERSES is doing and the synergy between our offerings could not be more ideal,” commented Markus Levin, Head of Operations and Co-Founder, XYO Network. “Working in lockstep, our companies see innovative solutions bridging augmented reality, virtual reality, blockchain and the real world, in an unprecedented way. The benefits from our collaboration are clear, unmistakable and will benefit consumers and businesses across industries.”

XYO Network connects the digital world with the real world offline through location-based technology via industry-leading tracking beacons. The technology allows everyday consumers to track real-world items in real time. Building on this, XYO Network is building the world’s first people-powered proof-of-location network using blockchain technology to enable location-based decentralized apps (dApps) and services.

About VERSES

VERSES is a next-generation protocol connecting people, places and things to the internet via secure blockchain technologies. The VERSES Spatial Web Protocol is a universal and open standard for the next generation of the web that connects people, places, things and currencies into a single, digital network. VERSES enables developers to turn any location into a smart space, any product into a smart asset and to enable cryptocurrency transactions across the real and virtual worlds. The VERSES Foundation is a not-for-profit group developing open standards, protocols and technologies for the future web. For more information on VERSES, visit our website at http://VERSES.io.

About XYO Network

XYO Network is an effort to create a vast, geospatial, blockchain-powered location network currently under development with the goal to provide accurate, certainty-driven location data on everything from cars to smartphones. By combining location beacons with IoT and mobile devices, the XYO Network ecosystem plans to deliver the verified coordinates and data needed to execute smart contracts, run smart cities, foster financial transactions, and power a legion of location-centric applications. For more information, please visit https://xyo.network.

All trademarks and product names are the property of their respective companies.