VR (virtual reality) first emerged in the 1990s, but for a long time it didn’t live up to the hype. Like manynew technology solutions, there was a consumer gap between the idea and the reality. It’s only in the

last few years that hardware and software have come close to matching the power of imagination. [1] VR and AR (augmented reality) are now becoming dominate tools for online gaming, real estate, and increasingly in retail. And as VR and AR move on to the blockchain, the way we access and interact with

digital content will be transformed.

What does blockchain bring to VR?

Decentralized storage makes VR more effective by allowing faster access to information, and peer-to-peer connectivity makes voice chats and body tracking in virtual spaces possible. Blockchain technology allows for widespread adoption of VR, while keeping costs low. Blockchain will also give users more control over their data, and will help preserve users’ privacy and security. [2]

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Innovative use cases for blockchain-powered VR

If the earliest internet with static web pages was Web 1.0, and interactive social media is Web 2.0, Verses represents the development of Web 3.0. Developed by a non-profit organization, Verses is

creating a spatial web, using blockchain technology to connect virtual and physical people, places, things and digital currencies into a single network. In the words of Executive Director Gabriel Rene, Verses “evolves the model of today’s web from text-based web pages in two dimensions to three-dimensional AR and VR web experiences located in the physical and virtual worlds.” [3] Verses will use DLT to create unique identifiers for both real and virtual world locations. This will result in “smart spaces” and “spatial domains,” giving real places a virtual layer and making it possible to

create programmable rules that apply to specific locations in a virtual reality. [4 ]One of the first major partners for the project is IMAX, which will use the Verses protocol to create geo-located VR and AR content. [5] Verses will also generate a location-based element for digital assets, giving them a virtual presence in the real world. As a result, they can be accessed both via AR in the real world and VR in a virtual world. [6]

Another innovative project using blockchain to power VR and AR is Geon Network, which uses geolocation and geomining to revolutionize value transfer. The Geon Network platform enables the creation of virtual ATMs, or Geons, anywhere in the world. AR technology allows live camera feed from

a smartphone to be merged with computer-generated 3D objects, so it’s easy for users to find and access Geons in the real world. Creators of these virtual ATMs can design specific challenges to be completed before funds can be withdrawn, making Geons a valuable tool in marketing and advertising.

It also has several other use cases:

- Gaming. Geons can be set up near different locations to reward players for reaching checkpoints

in outdoor games.

- Commercial events. Conference organizers can establish Geons at key locations, allowing

attendees to access them for information as they move through a venue.

- Crowdfunding. Non-profit organizations can raise funds using Geons, making it easy for anyone using the Geon App to transfer funds to the organization.

- Charitable causes. Geons can be set up in disaster areas or war zones, allowing individuals with a smartphone to geomine donations.

- Social engagement. Tethering a Geon to the leader of a march or parade provides a beacon that will attract and guide supporters. [7]

We are on the cusp of a digital transformation. As more platforms for blockchain-powered VR and AR emerge, and as people come to expect that their assets will function in every platform, can we expect that the boundaries between virtual and real will begin to blur? As virtual moves ever closer to reality, there is little doubt that blockchain and VR will change the world.

[1] https://thenextweb.com/contributors/2018/04/19/blockchain-vr-lead-new-conversation-tech/

[2] https://www.cryptomorrow.com/2018/01/19/9-projects-that-are-combining-vr-with-blockchain/

[3] https://www.bizjournals.com/losangeles/news/2018/08/20/verses-introduces-web-30-the-spatial-web.html

[4] https://siliconangle.com/2018/08/15/verses-launches-augmented-reality-blockchain-connect-physical-virtual-

spaces/

[5] https://www.bizjournals.com/losangeles/news/2018/08/20/verses-introduces-web-30-the-spatial-web.html

[6] https://siliconangle.com/2018/08/15/verses-launches-augmented-reality-blockchain-connect-physical-virtual-

spaces/

[7] https://geon.network/